SINGAPORE - Both local and international postage rates are set to rise from October, SingPost said on Tuesday.
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.
The revised rates come amid a challenging postal business environment, said group chief executive Dr Wolfgang Baier, where domestic mail volumes are on a decline for the second consecutive year and costs are escalating.
SingPost's postage rates have not seen any adjustments since eight years ago.
To mitigate the impact of the new postage rates, SingPost will give out a free stamp booklet containing six 1st local stamps to every household. Small and medium enterprises (SMEs) will also receive a five per cent rebate for franked mail for one year.
To continue to provide quality services to its customers, SingPost said it will enhance its processes under a $100 million service improvement plan, which includes installing new automated sorting machines and hiring up to 200 more postmen.