Company briefs: Singapore Post

Singapore Post

Singapore Post is revising its rates for the international delivery of small packets from Jan 2 next year, following new rates set by a United Nations agency.

It will also stop accepting delivery of international small packets by ship from the same date as several postal organisations have ceased to accept such forms of conveyance, it said.

Demand for such a service is also low, with most senders choosing to use airmail.

International postal settlement rates - the amount that SingPost compensates other postal organisations for mail delivery in their country - are being raised on Jan 1 next year.

These rates are set every four years by the Universal Postal Union, a UN agency that sets the rules for international mail exchanges.


Olam

Commodities supplier Olam International has completed the sale of its 5,100 acre Edible Nuts orchards to Farmland Partners Inc (FPI) for US$110 million (S$148 million) in cash.

Olam will continue to operate the orchards for the next 25 years and will pay FPI, one of the largest listed farmland real estate investment trusts in the United States, a share of the annual revenue under the revenue-sharing model agreed between both parties, it said yesterday.

At the sale's announcement on Sept 22, Olam's managing director and chief executive of edible nuts, Mr Ashok Krishen, said the firm intends to further invest in growing almonds, pistachios and walnuts in California.


Best World International

Mainboard-listed Best World International has been included as a constituent stock of the MSCI Singapore Small Cap Index, effective after the closure of the trading on Thursday.

The index is designed to measure the performance of the small cap segment of the Singapore market. It consisted of 57 constituent stocks as at Oct 31,and represents approximately 14 per cent of the free float-adjusted market capitalisation of the Singapore equity market.

Best World chief operating officer Huang Ban Chin said on Thursday: "We are encouraged by the inclusion of Best World as part of the MSCI Singapore Small Cap Index, a strong testimony of our performance over the past few years.

"We believe that the inclusion will further enhance our reputation to attract more institutional investors as we seek to strengthen our shareholder base."

A version of this article appeared in the print edition of The Straits Times on December 02, 2017, with the headline 'Company briefs: Singapore Post'. Print Edition | Subscribe