Singapore Post - Maybank Research 2025-03-17: Hidden Value In SingPost Centre

Singapore Post - Hidden Value In SingPost Centre

Published:
SingPost (SGX:S08) | SGinvestors.io
  • SingPost will invest S$30m to boost capacity at its Tampines logistics hub and plans to move all operations there from SingPost Centre (SPC) which is also up for sale or lease.
  • We believe asset monetisation and repaying shareholders remains the way forward.

Moving out of SingPost Centre creates significant potential

  • - Read this at SGinvestors.io -
  • If all operations are shifted there, about 376,000+ sqft of industrial space could be freed up which represents an estimated S$ 9m leasing opportunity annually based on S$2/psf.
  • It could also potentially apply for a conversion of land use from industrial to office/retail which would lift SingPost Centre’s valuation significantly but this would be subject to regulatory approvals. Currently, out of SingPost Centre’s 1.47m sqft of GFA, 37% is classified industrial, 45% office and the rest retail.

New business model needs to be forged

  • - Read this at SGinvestors.io -

Value lies in asset monetisation

  • 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/.



Jarick Seet Maybank Research | https://www.maybanktrade.com.sg/ 2025-03-17



Previous report by Maybank:
2025-03-10 Singapore Post - Special Dividends Likely In May.

Price targets by 2 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





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