SingPost to shell out S$100m in services upgrade by 2016

S$45m goes to machines replacement.

According to DBS, Singpost intends to invest up to S$100m in infrastructure, services and enhancements over the next three years. About S$45m would be spent to replace its existing sorting machines to achieve greater operational efficiency.

Here's more:

A big amount would be spent on laying down PopStation network, a new delivery mechanism to serve customers 24/7. Overall, we estimate S$40m capex in FY14F followed by S$35m in FY15F & 16F each. Despite the higher capex, the free cash flow should allow it to meet dividend commitments easily. After three years, we expect capex to scale downwards again.

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