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SingPost’s S$100m investment spread over several years

We refer to Mr Teo Hoon Seng’s letter “Questionable SingPost figures?” (Jan 28). Since 2013, SingPost has been investing significantly to improve postal service.

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Patsie Tan, Assistant Vice President, Group Communications, Singapore Post

We refer to Mr Teo Hoon Seng’s letter “Questionable SingPost figures?” (Jan 28). Since 2013, SingPost has been investing significantly to improve postal service.

More than S$100 million, which we have committed to technology, people and capabilities to drive productivity and enhance the service level, is being disbursed over several years.

Of this, 60 per cent goes directly into improving postal service, specifically through upgrading of our postal infrastructure, refreshing of the post office network and rehiring of additional postal staff.

For instance, we just invested S$45 million in new, integrated sorting machines, which process letters and packages faster and more accurately. We are also progressively replacing the two-wheeler delivery fleet with larger-capacity three-wheelers.

Over the next few months, we will be rolling out a user-friendly, integrated Self-service Automated Machine, where customers can access multiple platforms, including smartphones, tablets, desktop and our physical kiosks.

To meet customers’ changing lifestyle, we introduced new-generation post offices integrated with 24/7 auto-lobbies to bring around-the-clock access to customers.

Another 30 per cent is for enhancing staff and customer productivity; for example, increasing touchpoints for our customers’ convenience.

We have nearly 90 POPStations across the island for customers to post, collect or return parcels. We aim to roll out more than 100, if the demand continues. We are also investing in technology such as ezy2ship and a new track-and-trace system.

The remaining 10 per cent is to help lower-income staff earn a better income and prepare them through training and development to cope with a changing economy.

The S$10 million SingPost Inclusivity Fund is being disbursed over five years, as of 2013.

In line with the Singapore Financial Reporting Standards, these investments are taken either as capital expenditure and recognised in the balance sheet or as expenses and recognised in the profit and loss statement.

The capital expenditure is ongoing and accounted for progressively.

We thank Mr Teo for the opportunity to explain and would be happy to meet him if he wants a better understanding.

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