With letter mail volumes falling worldwide, Singapore Post has engineered a turn to logistics to boost its profitability. Its Group Chief Financial Officer Vincent Yik explains its strategy. When was the last time you posted a letter, bought a stamp or visited a post office? With the decline in demand for postal services over the years, Singapore Post (SingPost), the country’s postal service provider, is pivoting to the logistics sector to survive and thrive, shares its Group Chief Financial Officer Vincent Yik. “We’re one of the top postal agencies worldwide in terms of on-time delivery and service quality, and we carry that badge of honour with a great amount of pride. The postal business used to make up almost all of our revenue.  Now,  about 85 per cent of revenue comes from logistics and the rest from postal.” He adds that making the transformation enabled SingPost to significantly increase its revenue over the past five years and maintain its...