SingPost raises postage in 8 years

[Ktglfc]

SingPost raises rates for the first time in 8 years

 

CNA POSTED: 02 Sep 2014 20:38

SINGAPORE: SingPost has raised its rates for the first time in eight years. It announced on Tuesday (Sep 2) that local postage rates for letters weighing 20g or less will be adjusted upwards by 4 cents to 30 cents from Oct 1.

 

Adjustments to international rates will range from 5 cents to 25 cents, depending on weight and the zones. International registered mail fee will increase from S$2.20 to S$2.50, to partially recover the cost increase in terminal due payments for registered mail.

 

SingPost said rates were last adjusted in 2006, and that costs have gone up nearly 50 per cent since then. To mitigate the impact of the rates increase, SingPost will give a 5 per cent rebate on franked mail for a year from Oct 1, 2014. Every household will also receive six free local stamps, and charity organisations will enjoy free postage.

 

SingPost says the increase in revenue from the rates adjustments will allow it to invest S$100 million into postal and delivery infrastructure, extended operations and employees. These improvements will include new integrated sorting machines to ensure 100 per cent delivery by the second business day.

 

Extended operations of six days, with Saturdays dedicated to mail packages, will cater to the growing trend of online shopping. SingPost will also hire up to 200 more delivery staff to boost its current manpower strength and serve new housing estates.

 

In a statement, the Infocomm Development Authority of Singapore (IDA) said SingPost had sought its approval to increase domestic and international postage rates for basic mail services. IDA reviewed SingPost's request and agreed to the rate revisions with effect from Oct 1, 2014.

 

IDA said it took into account that SingPost's commitment to investing in measures to improve its services, such as upgrading its postal infrastructure, increasing its manpower, and improving the welfare of, and investing in, its postal workers.

 

The authority also added that it will continue to monitor SingPost's service enhancement measures to ensure that these measures will improve the reliability and quality of basic postal services for businesses and consumers.

 

----------------------------

 

With Saturday delivery services resume, they have to recoup some cost back... And that is increase in postage stamps...

Better buy SingPost shares, Huat Ah :((

[Raymondism]

Hv not sent any letters for ages..... lol

[Mustank]

Should go up lah

Let me earn a bit dividend also good lah

[Wt_know]

corporate also send less letters liao with email and pdf

 

Hv not sent any letters for ages..... lol

 

Edited September 2, 2014 by Wt_know

[Davidklt]

If you take into account the logistic involved in sending a mail, 30 cents is really a nominal fee.

[Joseph22]

I believe this is one increase that everyone agree on

SingPost raises rates for the first time in 8 years

CNA POSTED: 02 Sep 2014 20:38
SINGAPORE: SingPost has raised its rates for the first time in eight years. It announced on Tuesday (Sep 2) that local postage rates for letters weighing 20g or less will be adjusted upwards by 4 cents to 30 cents from Oct 1.

Adjustments to international rates will range from 5 cents to 25 cents, depending on weight and the zones. International registered mail fee will increase from S$2.20 to S$2.50, to partially recover the cost increase in terminal due payments for registered mail.

SingPost said rates were last adjusted in 2006, and that costs have gone up nearly 50 per cent since then. To mitigate the impact of the rates increase, SingPost will give a 5 per cent rebate on franked mail for a year from Oct 1, 2014. Every household will also receive six free local stamps, and charity organisations will enjoy free postage.

SingPost says the increase in revenue from the rates adjustments will allow it to invest S$100 million into postal and delivery infrastructure, extended operations and employees. These improvements will include new integrated sorting machines to ensure 100 per cent delivery by the second business day.

Extended operations of six days, with Saturdays dedicated to mail packages, will cater to the growing trend of online shopping. SingPost will also hire up to 200 more delivery staff to boost its current manpower strength and serve new housing estates.

In a statement, the Infocomm Development Authority of Singapore (IDA) said SingPost had sought its approval to increase domestic and international postage rates for basic mail services. IDA reviewed SingPost's request and agreed to the rate revisions with effect from Oct 1, 2014.

IDA said it took into account that SingPost's commitment to investing in measures to improve its services, such as upgrading its postal infrastructure, increasing its manpower, and improving the welfare of, and investing in, its postal workers.

The authority also added that it will continue to monitor SingPost's service enhancement measures to ensure that these measures will improve the reliability and quality of basic postal services for businesses and consumers.

----------------------------

With Saturday delivery services resume, they have to recoup some cost back... And that is increase in postage stamps...
Better buy SingPost shares, Huat Ah :((

 

[Vid]

Good lah... last time how to buy 1 stamp for 26 cents? Need to buy whole pack of $2.60. Now can buy 1 stamp at 30 cents

[13177]

Good lah... last time how to buy 1 stamp for 26 cents? Need to buy whole pack of $2.60. Now can buy 1 stamp at 30 cents

True, dont understand last round of price hike, why they didnt round up or down, so that easier to buy 1 or 2 pieces of stamp?

 

So if i still have 26 cents on hand, how to use after 1 Oct? Needs to buy 4 cents stamp to top up the difference?

[Vid]

True, dont understand last round of price hike, why they didnt round up or down, so that easier to buy 1 or 2 pieces of stamp?

 

So if i still have 26 cents on hand, how to use after 1 Oct? Needs to buy 4 cents stamp to top up the difference?

 

I think they will let you use up the stamps you have on hand. Those that you buy in a pack doesn't indicate any value. Maybe they will start selling it at $3 once the rule comes into effect.

 

If not, dunno how to buy 4 cents stamp sia

[Porker]

If you take into account the logistic involved in sending a mail, 30 cents is really a nominal fee.

It's a business model that works on volume. The internet and mobile devices hugely relegated snail mail to being almost obsolete. So 30 cents isn't really nominal when the volume is substantial. Just my limited understanding of the mail business model

[Camrysfa]

Feb 14 report, edited quote,

mail business still account for half of revenue.

domestic mail revenue is down but overall mail revenue rose.

 

 

 

Last Thursday, Singapore Post Limited (SGX: S08), or SingPost for short, posted a year-on-year revenue increase of 30.2% to S$222.6 million for the third quarter of its Financial Year 2014 (3Q 2014). Its net profit, however, was flat at S$39.4 million.

 

 

And while the company’s ‘Mail’ business segment is still very important, accounting for slightly more than half of its overall revenue, the company’s also involved in other types of business that are classified under the segment names of Logistics, Retail & e-Commerce, and Others (which refers to commercial property rental operations and other miscellaneous items).

 

The revenue rise in the reported quarter was due to contributions from acquisitions and growth in e-Commerce related activities across all business segments. Without contributions from acquisitions, revenue increased by only 9.3% year-on-year.

 

Overall mail revenue for 3Q 2014 grew 12.8% to S$133.2 million, despite a decline in domestic mail volume decline. It’s now the eighth consecutive quarter where the company has seen its mail volume drop.

 

Meanwhile, revenue for the logistics business grew by 64.5% to S$101.2 million. In Retail & e-Commerce, revenue decreased by 6.1% to S$22.6 million while rental and property-related income rose by 1.9% to S$11.4 million.

 

 

[Maxus-MIFA9]

This one increase no complaint from me.....

 

Just look at the postmen/women daily delivering letters into your letter boxes or house to house for those staying in landed properties, whether in sun shine or pouring rain. They still deliver your mails.

 

Last increased was 8 years ago and our transportations companies don't know increase how many times already.......

[Ktglfc]

Think the only time that I mass posted using postage stamps was like years ago when posting job application and resumes

How time flies....

 

Agreed that its still relatively cheap on the increase.. $0.30/stamp... thats a fraction of our transport cost :)

 

Hmm.... buying SingPost shares sure can earn dividends... definitely won't collapse cos ppl nowadays order online, and still need delievery on goods after ordering online :))

[Knoobie]

die.. every time something increase price in SG.. sure will have outage one!!

[13177]

 

I think they will let you use up the stamps you have on hand. Those that you buy in a pack doesn't indicate any value. Maybe they will start selling it at $3 once the rule comes into effect.

 

If not, dunno how to buy 4 cents stamp sia

I still have 2 booklets of 26 cents stamps lo.

[1fast1]

Called up SingPost to check.

 

1) Before 1st Oct, current (26c) stamps can be used.

 

2) From that date, if you use a 26c stamp, you will need to affix another 4c stamp to make up the 30c postage.

 

3) They will not honour the 26c stamp by itself after 1st Oct.

 

4) They don't have plans to allow an exchange of your existing stamps at the Singpost counter for 30c stamps.

 

I've lodged a customer complaint and am waiting to hear back from their manager. This is piss poor service, as far as I'm concerned.

Edited September 3, 2014 by Turboflat4

[Mustank]

Called up SingPost to check.

 

1) Before 1st Oct, current (26c) stamps can be used.

 

2) From that date, if you use a 26c stamp, you will need to affix another 4c stamp to make up the 30c postage.

 

3) They will not honour the 26c stamp by itself after 1st Oct.

 

4) They don't have plans to allow an exchange of your existing stamps at the Singpost counter for 30c stamps.

 

I've lodged a customer complaint and am waiting to hear back from their manager. This is piss poor service, as far as I'm concerned.

 

i was still thinking of loading up on the old 26c stamps

[Maxus-MIFA9]

Called up SingPost to check.

 

1) Before 1st Oct, current (26c) stamps can be used.

 

2) From that date, if you use a 26c stamp, you will need to affix another 4c stamp to make up the 30c postage.

 

3) They will not honour the 26c stamp by itself after 1st Oct.

 

4) They don't have plans to allow an exchange of your existing stamps at the Singpost counter for 30c stamps.

 

I've lodged a customer complaint and am waiting to hear back from their manager. This is piss poor service, as far as I'm concerned.

 

They should stopped printing 26c stamps & start selling 30c at all post branches. Let ppl use up all the 26c.

 

Give us a year period to finish the 26c stamps and implement the 30c stamp on 1st August 2015 ...