SINGAPORE Post : S08 0% (SingPost) has appointed Shahrin Abdol Salam as the chief executive officer of its Singapore operations with effect from May 1.
Shahrin was the managing director of SMRT’s Thomson-East Coast Line and the senior vice-president of strategic relations at SMRT Corporation. He was also the rail agency expert and adviser for the Dubai government’s Roads and Transport Authority.
He succeeds Neo Su Yin, who has been the CEO of the national postal service provider since November 2021. She will be leaving the group to pursue career opportunities elsewhere, said SingPost on Monday (Apr 1).
The company noted that Shahrin has more than 25 years of experience in managing operations, strategic planning, asset management, as well as business development, engineering and customer service.
SingPost group chief executive Vincent Pang added that Shahrin has a “strong track record” in leading operations, engineering and service quality. “I look forward to his leadership in our continued transformation.”
Shahrin’s appointment follows recent attempts by SingPost to lift its market value. This includes the completion of a strategic review aimed at enhancing shareholder value.
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The review laid out plans to transition the group into a pure-play logistics player as well as the execution of five thrusts over the next three years, including the adoption of a new dividend payout scheme.
SingPost said it was also looking at divesting its non-core assets, including its flagship retail-commercial mixed development SingPost Centre, which is valued at S$1.1 billion as at September 2023.
Additionally, the group will be reorganised into three business units: Singapore, Australia and international. This will give each business unit the “agility and empowerment” to operate in its own markets and build on its core capabilities according to individual strategies, said SingPost.
Shares of SingPost closed flat at S$0.42 on Monday, after the announcement.
