Local rates will increase between four cents and 20 cents while international rates will move up between five cents and 25 cents depending on the weight.
Get the full story from The Straits Times.
Here is the press release from SingPost:
SingPost to adjust rates, continues to roll out service enhancements
- Postage increase helps fund $100M investment in service enhancements including upgrad ing of postal infrastructure, extended delivery days and modernised post offices
- 10 million free stamps to households and rebates to SMEs to mitigate impact
SINGAPORE - With effect from 1 October 2014 , local postage rates for letters weighing 20g or less will be adjusted by 4 cents.
The last time postage rates were adjusted was 8 years ago in 2006.
Since then, costs have gone up nearly 50 per cent - labour costs have risen about 31 per cent, fuel about 32 per cent and inflation has gone up 26 per cent - yet SingPost has been investing in service to serve Singaporeans better.
SingPost will also revise its international postage rates to partially offset the increase in postage for outbound mail as a result of Singapore being re-classified twice by international body Universal Postal Union. These have resulted in SingPost being charged more by other countries for delivering the mail that Singapore customers send to recipients in their countries.
Terminal dues for international mail have risen by up to 42.6 per cent and will further increase by an additional 37 per cent by 2017.
SingPost to adjust rates and to continue to roll out service enhancements, amid challenging postal business environment
- SingPost grapples with second year of decline in domestic mail volume and continued rise in operating costs
- While global industry players scale back on service in response to declining mail volumes, SingPost is making significant investments in service enhancements including upgrading of postal infrastructure, additional delivery days and modernising of post offices
Dr Wolfgang Baier, Group CEO of SingPost said: "Around the world, postal peers have been hit by the onslaught of the digital era. Here in Singapore, we are seeing domestic mail volumes decline for the second consecutive year. This is further compounded by escalating operating costs, largely driven by manpower costs."
Unlike global trends to reduce mail service spend, SingPost has chosen to invest in its domestic letter mail service despite the volume decline and increasing operating costs.
Added Dr Baier: "We are committed to deliver the best possible service and are investing $100 million into postal and delivery infrastructure, extended operations and people. For instance, the new integrated sorting machines which cost $45 million, will help ensure that Singapore continues to enjoy one of the world's highest mail delivery standards ie. 100 per cent delivery by the second business day. As part of our service enhancements, we have extended our operations to 6 delivery days, with Saturdays dedicated to delivering mail packages."
He said: "We want to go beyond providing quality service and also be here for the changing needs of every Singaporean, for instance, by providing 24/7 services and mobile and digital solutions to complement existing solutions."
SingPost's $100 million service improvement plan includes: Upgraded postal infrastructure for better service
- Revamped sorting infrastructure for higher accuracy in mail service SingPost is in the final stages of the install ation of new integrated sorting machines which will increase the automation process, sorting capacity and speed of sorting. To be fully operational by the end of 2014, the $45 million machines will increase letter sorting capacity by 17 per cent and mechanisation rate to 95 per cent, improving efficiency and accuracy at the same time.
- New fleet of three whee lers with bigger carrying capacity
In tandem, SingPost is upgrading postal equipment and tools to facilitate delivery and service to customers including the use of three wheelers with bigger carrying capacity for packages.
The new fleet of three wheelers has a bigger carrying capacity which translates into higher productivity and better service for our staff and customers respectively. SingPost will completely renew its fleet to cater to the demand. These three wheelers which are more stable are also safer for the postmen.