Singapore Post - Maybank Research 2024-12-03: Australia Business Sold

• SingPost (SGX:S08) agreed to divest its Australia business for AUD1.02bn to Pacific Equity Partners and will realise a gain on disposal of about S$312.1m. Debt will also be significantly reduced to S$350m and a special dividend is likely. We believe that majority of the proceeds will likely be returned as dividends to shareholders.
• - Read this at SGinvestors.io -

Divestment gain of S$312m & debt pared down

• With an agreed price of AUD1.02bn, SingPost will realise a gain on disposal of S$312.1m.
• - Read this at SGinvestors.io -
• We also expect finance expense to be significantly lowered as blended finance cost for its Australia debt is around 5%+ as compared to 3% for its S$-denominated debt.

More monetisation and special dividends likely

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-11-11 Singapore Post - Still Awaiting Revised Strategy.

Previous report by Maybank:
2025-08-24 Singapore Post - Awaiting New Strategy; Downgrade To HOLD.

Price targets by other brokers at SingPost Target Prices.

Listing of research reports at SingPost Analyst Reports.

Relevant links:
SingPost Share Price History,
SingPost Announcements,
SingPost Dividend Payout Dates & Corporate Actions,
SingPost News