$SingPost(S08.SI)$  At 42 cents, SingPost looks materially underpriced given the near term catalysts.

This is why shareholders should be optimistic:-

- Asset realisation: Sale of SingPost Centre is a clear NAV catalyst.

- Core postal drag: Domestic postal operations are loss‑making and need a structural solution; management is engaging in active discussion with the government in view to find a sustainable solution.

- Network advantage: Dense network of ~2,500 touchpoints (~80% of the population within 10 minutes) provides a low‑cost platform to roll out higher‑yield services at scale.

Assuming completion of the SingPost Centre sale and government support for the local postage obligation, a 65 cents target price is conservative and realistically achievable.

Further upside depends on a credible resolution of the domestic postal losses and disciplined monetisation of the touchpoint network.