A clerk, a writer and a farmworker. That’s how Singapore Post Limited (SGX:S08) got started in the early 1830s. Today, SingPost is Singapore’s designated postal service, providing your mail and parcel deliveries island-wide and overseas. Its distribution network is extensive. It currently has 300 “SAM kiosks” to pay your bills and buy postage conveniently, 56 post offices, over 700 post boxes and 11,000 POPStation lockers across 160 locations in the country. And it still mails up to 3 million mail items daily. A 67% share price plunged… Once a dominator of the letter business, SingPost’s share price has plunged 67% to one of the lowest levels. It dropped from SGD2.15 per share in 2015 to around SGD0.70 per share. This is concerning. It’s only a few years ago that the company was starting to struggle. The troubles at SingPost — and the poor performance of its stock — suggest a structural change in its business and its industry....