What is Singapore Post up to?
I thought no organisation is to price in the 2% GST increase to the consumers? In his reply to Leong Sze Hian, Tay Poh Choo, a VP from SingPost said, 'As a GST registered company, Singpost collects GST on behalf of the Govt. In this exercise, we would like to assure the public that there will be no increase in revenue for Singpost.' And the 1c increase in postage is exactly 2%. Ok, accepted. And Singpost will absorb the 2% increase for all other local weight steps. 'We will return 1% of the franked postage to franked mail customers from 1 July.' Puzzled, 2%, 1%? Why take all the trouble?