S&P Global Ratings said on Aug, 05 2026 that Singapore Post (S08) is likely to record more predictable and stable earnings over the next one to two years after deciding to retain its flagship SingPost Centre and revamp its core postal business.

The credit assessor expects recurring rental income from SingPost Centre, which has maintained close to 100% occupancy, to offset operating losses in the postal and logistics segment through fiscal 2028.

S&P projects annual EBITDA of about 50-60 million Singapore dollars until fiscal 2027, rising to roughly 70-75 million Singapore dollars in fiscal 2028, compared with 41 million Singapore dollars reported for the year ended Mar, 31 2026.

The postal operator commissioned a new automated sorting facility in the second quarter of 2026, lifting daily parcel-sorting capacity to 400,000 from 200,000, and plans to deploy automated postboxes to cut manpower needs and monetise post-office space.

Capital expenditure is expected to stay moderate at 35-45 million Singapore dollars a year through fiscal 2028, funded by a cash balance of 605 million Singapore dollars as of end-fiscal 2026.

S&P kept its issuer credit rating on Singapore Post at BBB- with a stable outlook and said no rating action was taken in conjunction with the report.