POST OFFICE SAVINGS BANK Annual Report & Accounts 1980

Contents

Chairman's Report 3 Organisational Structure 5 The Year in Review 7 Service Consciousness 13 POSB Loan Schemes 19 Community Relations 21 Personnel 23 Financial Statements 24 Statistical Data 28 Directory of Offices, Subsidiary & Associated Companies 30

Highlights of 1980

* Inclusive of earned interest and SAYE (Bonus) Contracts. Board of Directors

Chairman (L to R): MrNg Kiat Chong, Mr Michael Wee, Mr Tan Chok Kian Mr F J D'Costa, Mr Tan Chok Kian, Mr Wong Lee Hoong, Mr Ng Tee Geok, Mr Lee Hock Ley. Deputy Chairman Mr Wong Lee Hoong

Directors Mr F J D'Costa Mr Lim Hong Keat Mr Ng Tee Geok Mr Robert Iau (up to 1 Oct 1980) Mr Michael Wee Mr Ng Kiat Chong (from 1 Jan 1981) Mr Lee Hock Ley (from 1 Jan 1981) Chairman's Report

In November 1980, the POSB introduced the As an extension to the branch expansion programme, PASSCARD Account, a retail banking concept new to we introduced during 1980 the concept of the Principal . This personalised and convenient transaction Branch. The objective in this instance is to make facility serves as an alternative to the traditional available a comprehensive range of services including passbook. The Passcard eliminates updating at counters, higher withdrawal facilities to the Principal Branches. which is a time-consuming process. Transactions are, therefore completed in a shorter time. The POSB remains confident of growth in the future while accepting that growth rates per se will moderate The public response to this new service has been most somewhat as our deposit base expands. On a deposit encouraging. The PASSCARD was introduced on base of $2,785 million, we recorded a modest growth November 24, 1980 and by the end of the year — ie rate of 9.1% in 1980 while the total number of accounts just slightly over a month — nearly 12,000 depositors at almost 1.9 million grew by 11%, a very satisfactory had opened PASSCARD Accounts with the Bank. growth considering that our population numbered just Last year, I reported on the introduction of our about 2.4 million. Cash-On-Line self-service banking facility through the On behalf of the Board of Directors, I would like to installation of automated tellers. The expansion of this express my deep appreciation to the staff for their hard facility progressed satisfactorily during 1980. Up to work and dedication to the Bank. Without their March 1981, the number of ATMs installed was 22 steadfast contribution, another year of progress and including two through-the-wall models. service would not have been possible. We opted for this modern mechanised facility to save manpower and to reduce queues at our counters. This objective has been met. The number of Cash.On.Line cardholders stood at slightly over 69,000 at the end of the year. Transactions handled by the tellers amounted to over 409,000 at a monthly average of over 34,000 transactions. To provide greater convenience, we have extended self-service banking to Sundays at tellers located in departmental stores and supermarkets. TAN CHOK KIAN The expansion of the Cash-On-Line tellers goes hand in Chairman, POSB hand with the Bank's branch expansion programme, April 1981 particularly in new housing estates. Consequently, most of our branches opened last year were in estates such as , Clementi, and . The Bank has currently a network of 105 branches spread throughout the island. Principal Officers Organisational Structure

General Manager Mr Bertie Cheng

Controller, Finance & Operations Mr Tan Han Meng

Head, Development & Property Department Mr Hiew Siew Nam

Head, Data Processing Centre Mr Wee Tew Lim

Head, Investment & Credit Department Mrs Margaret Koh

Head, Personnel & Administration Department Mrs Kwok Moon Moi

Head, Finance Department Miss Chua Bee Choo

Head, Public Relations & Marketing Department Miss Nelly Menon

Head, Training & Security Department Mr Vincent Sebastian

Head, Operations Department Mr Cheah Pin Thong

Head, Management Services Department Mrs Pearl See-Thoe

A POSB Cash-On-Line teller located in a department store. The Year in Review

The POSB entered the 1980s by introducing two new services during the year under review adding to the broad range of facilities which are already available to depositors. The two new services are the Passcard Number of accounts, 1972 - 1980 Account and the establishment of Principal Branches which was intended to decentralise and upgrade services at key Branches. The Bank's Cash-On-Line self- service facility introduced in 1979 was expanded with the installation of 19 additional automated tellers at different locations during the year. The POSB's overall business expanded at a slower pace than in the past. Although the volume of deposits placed with the Bank was higher in 1980 than in the previous year, the growth rate was lower due to the larger deposit base. POSB's share of the savings account market also showed a drop when compared with the share of the market held by commercial banks and finance companies. As the prime lending rate of commercial banks reached new peaks, interest rates on deposits, particularly fixed deposits also escalated. For most of 1980, Total depositors' balances, 1972 -1980 commercial banks were able to offer interest rates which were much more favourable than those offered by POSB. Also contributing to the slower growth was the bouyant property market and the volatile conditions which prevailed in the stock market in 1980.

Slower Growth in Total Balances Total depositors' balances including SAYE contracts and interest earned at the end of 1980 stood at $2,785.8 million. The increase of $231.5 million or 9.1% was the lowest recorded since 1974. Night Banking at the POSB Branch. The Year in Review (continued)

Accounts up by 11% For yet another year, the number of accounts with the Bank showed a steady increase. The total number of accounts at 1,898,264 was higher than the previous year's total Number of transactions, 1972 -1980 by 187,712. The growth rate was 11 per cent which compared favourably with the 12 per cent growth registered in 1979 on a larger volume increase in the number of accounts.

Net Deposits Net deposits placed with the Bank (deposits over withdrawals) amounted to $69.6 million. Deposits totalling $3,581.4 million were placed with the Bank during the year. This was $960.0 million or 36.6 per cent higher than in 1979. However, the level of withdrawals was also higher and totalled $3,511.8 million. This was $1,271.6 million or 56.8% over that of 1979. The figures are inclusive of SAYE deposits and withdrawals.

Record Transaction Level With the growing volume of the Bank's business, the number of transactions has shown a steady Number of POSB offices, 1972 - 1980 increase. A record level of 15.9 million transactions were handled during the year exceeding the previous year's total by 3.3 million or 26.6 per cent more than in the previous year. Longer banking hours, Saturday afternoon banking and Cash-On-Line transactions contributed to the greater volume.

Cash Turnover The total cash turnover during 1980 also reached record levels at $7,093.2 million. The increase amounted to $2,231.6 million or 45.9 per cent. Through-the-wall model of the Cash-On-Line teller outside the Bedok North Branch. The Year in Review (continued)

Interest Rates To keep interest rates in line with prevailing market rates and to ensure that depositors were given a fair return on savings, the Bank's interest rates on savings accounts were revised upwards twice during the year. The first revision was on May 1 when the first tier interest rate on balances up to $100,000 was raised from 6 per cent to 7 per cent per annum, while the second-tier rate on deposits in excess of $100,000 1 was increased from 4 /2 per cent to 5 per cent per annum. The second upward revision took place in December when the first tier rate offered on savings was set 1 at 8 /2 per cent and the second tier rate at 6 per cent.

Interest Paid A total of $164.6 million was paid as interest on deposits placed with the Bank in 1980. The increase in the total interest credited to the depositors' accounts was $47.7 million or 40.8 per cent higher than in 1979.

Equity in Marina Centre In January, the Bank took up a 10 per cent equity in Marina Centre Holdings. The company, formed to own and develop the Marina Centre project, was incorporated in November 1979 with a paid-up capital of $125 million. The Bank's equity of $12.5 million is held by POSB Investment Pte Ltd.

Dr Koh Lip Lin, Member of Parliament for Nee Soon, unveils the plaque at the official opening of the Ang Mo Kio North POSB Branch (top right). A model of the Marina Centre development project in which POSB has an interest (right). The Passcard, yet another convenient service introduced by POSB during 1980. Service Consciousness

The Bank's consciousness of the • Ang Mo Kio North Branch need to provide better services Blk 629, 1018 led to the expansion of the Ang Mo Kio Avenue 4 branch network, the extension of Singapore 2056 self-service banking through Cash-On-Line tellers at more The Clementi Central Branch was locations, longer banking hours and officially opened by Mr Chor Yeok through the introduction of new Eng, Senior Parliamentary Secretary services and facilities for depositors. (Environment) and Member of Parliament for on More Outlets September 18, 1980. The Ang Mo The Bank had a total of 105 offices Kio North Branch was officially including 67 independent branches opened by Dr Koh Lip Lin, and 38 counters at Post Offices at Member of Parliament for Nee the end of 1980. Soon on October 23, 1980. Eight new branches were opened In addition, two separate savings during the year. bank counters were established at The new branches opened during the Halt Post Office on 1980 were: April 7 and at the Post Office on May 26. Branch and Location The savings bank counter at • Orchard Towers Branch Newton Post Office ceased Unit G7 Orchard Towers operations during the year with the Rear Block establishment of the independent Claymore Drive Newton Branch and Drive-in. This Singapore 0922 branch now offers depositors a more comprehensive range of services. • Bukit Merah Central Branch Blk 161, 3727/3729 Longer Banking Hours Bukit Merah Central Singapore 0315 Banking facilities on Saturday afternoons were available at 21 of • Newton Branch the Bank's branches at the end of 135 Bukit Timah Road 1980. Singapore 0922 Personalised night banking service • Clementi Central Branch up to 7 p.m. remained available at Blk 449, 243/247 10 branches in department stores, Clementi Avenue 3 supermarkets and key housing Singapore 0512 estates. • Bedok Branch Cash-On-Line Tellers 314 Bedok Shopping Complex Singapore 1646 The Cash-On-Line self-service banking facility introduced in • Hillview Branch September 1979 was extended to Blk 17, 1314 Hillview Avenue 19 new locations during 1980. At Singapore 2366 the end of the year, the Bank operated 20 tellers located at • Ang Mo Kio East Branch branches, supermarkets and Blk 452, 1793 departmental stores. Ang Mo Kio Avenue 10 Singapore 2056 The POSB Principal Branch in Ang Mo Kio Central. Service Consciousness (continued)

Depositor response to the service Principal Branches was instituted in has been more than encouraging. 1980. Twelve key branches were The total number of Cash-.On-Line upgraded to Principal Branches cardholders stood at 69,069 at the from November 1. At these end of 1980. Transactions branches, depositors are provided amounted to 409,120 during the with higher withdrawal limits as year or an average of 34,093 well as additional services which transactions per month. previously were available only at Withdrawals totalling $43.8 million the Bank's Headquarters. were made through the Cash-On-Line tellers. The Principal Branches are: As an additional facility for • Ang Mo Kio Central Branch depositors, the Cash-On-Line • Bedok Central Branch service was extended up to 9.00 pm • Branch on weekdays at 12 Cash-On-Line • Clementi Central Branch tellers. This service was also offered • Empress Place Branch on Sundays, between 11.00 am to • Town Branch 4.00 pm, at 12 Cash-On-Line • Marine Parade Branch tellers located in supermarkets and • Newton Branch departmental stores. • Robinson Road Branch • Road Branch Passcard Account • Central Branch A new service was introduced in • Upper Pickering Street Branch November with the launching of the POSB Passcard Account. The Passcard Account is a savings One of the two cash lucky draws account which operates without a organised by POSB during 1980. passbook. Depositors are issued with a handy-sized Passcard which incorporates the depositor's photograph and signature. This is the first no-book savings account to be introduced in Singapore. The primary reason for introducing the Passcard was to offer faster and more convenient service at the counters. The Passcard does away with the need to update unposted transactions such as salary credits, Giro payments and Cash-On-Line transactions. Passcard Account holders receive a monthly statement of transactions. The number of Passcards opened between the launching of the service on November 24 and the end of the year was 11,897.

Principal Branches In order to provide easier access to the Bank's services, the concept of

Dual-channel drive-in service at the Newton Branc: POSB Housing Loans enable depositors to own private property. POSB Loan Schemes

Since the cost of funds were higher Interest rates on loans for in 1980, the Bank's rates for commercial properties were raised 1 3 housing loans were raised twice by /2% in March and by /4% in 3 during the year by /4% on May 1 May. On December 15, the rates 1 1 and by 1 /2% on December 15. were increased by another 1 /2%. The current rates chargeable are as The Bank's prevailing rates are as follows: follows:

Giro Service The interest rate for renovation During the year, the electronic 1 funds transfer facilities through the loans was also raised by /2% in March and 1% in December. The Bank's Giro Payment Service were current rate is a flat rate of 8% per extended to enable payment of annum. Rediffusion charges, American Express credit card bills and The interest rate for Renovation insurance premiums to the cum Furnishing Loans was raised Prudential Life Company. by 1 per cent and the current rate as As at the end of 1980 there were of December 8 is a flat 8 per cent 229,066 standing orders to settle per annum. payments to PUB, HDB, Telecoms, From November 1, applications for JTC, Property Tax, insurance renovation loans and renovation premiums to certain insurers, cum furnishing loan schemes were Rediffusion charges and American decentralised to 12 Principal Express bills. Branches.

Renovation cum Furnishing Loans assist depositors in improving their homes. A miniature POSB branch in the Traffic Games Circuit built with the support of the Bank. Community Relations

The POSB has in the past associated community centres and road and itself actively with programmes traffic furniture such as traffic which concern the national interest. lights, pedestrians' crossings, Last year was no exception and the overhead bridges, underpasses, Bank's involvement in community zebra crossings and other traffic affairs covered several areas. signs. The circuit is a novel way of instilling road safety consciousness Sponsorships amongst our young population and would work towards the reduction Sponsorships and contributions of loss of life and human suffering made by the Bank during 1980 caused by preventable accidents. included support of a variety of programmes, activities and institutions. Centenary Trust Fund Among the programmes which The Centenary Trust Fund was received the Bank's support were established in 1977 as a vehicle to the 1980 National Courtesy provide funds to charitable and Campaign Jingle and Song-Writing other institutions deserving support. Competition, the "Stories For In 1980, disbursements amounting Children" writing competition, the to $43,450 were made to several "Young Innovators", Science And institutions in the fields of Industry Quiz on SBC, the education, health and welfare. Campaign against Smoking and Disease, the Bilingual Essay Writing Contest for Schools, the Singapore Lantern Festival, the Family Day The POSB float during the National Care Scheme and the Festival of Day celebration. Lights held in Jurong. Contributions made to these programmes by POSB amounted to nearly $85,000. The activities were organised by various bodies in Singapore including the Ministry of Culture, the Ministry of Health, the Ministry of Education, the Science Council, Jurong Town Corporation and the Singapore Broadcasting Corporation.

Traffic Games Circuit To encourage road safety among the young, the Bank contributed $100,000 in January to the Singapore Police Force to meet part of the cost of building the Traffic Games Circuit along the East Coast Parkway. The planning and design of the traffic games circuit included the construction of miniature model buildings such as schools, banks, The POSB contingent in the National Day Parade at the National Stadium. Personnel

The Bank had 652 employees at the recruits. A specialised in-house end of the 1980. orientation programme was also conducted by POSB Computer POSB Courtesy Campaign Services and IBM to provide members of the staff with a basic Three hundred members of the staff understanding of the computer and participated in a seminar-cum- its functions. workshop organised to inculcate the courtesy habit among Overseas Training employees at all levels of the Bank. The initiative was taken by the Two officers attended programmes Bank's middle management officers conducted overseas. One officer who conducted the exercise in July participated in a Correspondent as part of the national courtesy Bank Credit Seminar held in Manila campaign. in May 1980, while another attended the 12th International Training Activities Conference on Savings Bank Marketing and Publicity conducted During the year, 17 officers by the International Savings Bank participated in training courses, Institute of Colorado Springs, USA workshops and seminars organised in August 1980. by Government bodies, training institutes and private organisations. A third officer was sent on These programmes covered a broad attachment to the Trustee Savings area and included several aspects of Bank Group in the UK for a period banking. of five weeks in October/November POSB continued to stress the Regular in-house training for 1980 to study personnel and importance of courtesy among banking operations. the staff through a series of counter officers was continued to activities including seminars and meet the orientation needs of poster drawing competitions. Report on the Audit of Accounts FOR THE YEAR ENDED 31ST DECEMBER 1980

The accounts of the Post Office Savings Bank of Singapore have been examined under my direction and in accordance with the provisions of the Post Office Savings Bank of Singapore Act (No. 13 of 1971). I have obtained all the information and explanations I have required. In my opinion:- (a) the accompanying accounts show fairly the state of affairs of the Bank at 31st December 1980 and its results for the year ended on that date; (b) proper accounting and other records have been kept; and (c) the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the Bank during the year have been in accordance with the provisions of the Post Office Savings Bank of Singapore Act (No. 13 of 1971).

CHEE KENG SOON Auditor General Singapore 28 April 1981 Balance Sheet AS AT 31ST DECEMBER 1980

The accompanying notes form part of the accounts.

TAN CHOK KIAN Chairman Post Office Savings Bank Singapore Income and Expenditure Statement FOR THE YEAR ENDED 31ST DECEMBER 1980

The accompanying notes form part of the accounts. Notes on the Accounts

1. Significant Accounting Policies (a) Historical Cost Convention The Bank's accounts have been prepared under the historical cost convention. (h) Depreciation of Fixed Assets Fixed Assets are depreciated on a straight-line basis over their expected useful lives at the following annual rates:

No depreciation is provided on freehold land. Fully depreciated assets are retained in the accounts until they are no longer in use. (c) Foreign Currency Transactions Transactions arising in foreign currencies are converted at the rates of exchange ruling on the transaction dates, except where foreign currency transactions were uncompleted at year-end, the respective outstanding balances have been converted at rates of exchange approximating those ruling at Balance Sheet date. Exchange differences are taken up in the income and expenditure account. (d) Investments and Marketable Securities Government Securities, Bonds and Debenture Stocks are stated at face-value. Shares in Unquoted Corporations and Subsidiary Companies are stated at cost. Shares in Quoted Corportions are stated at the lower of cost and market value. Interest income is accrued on the day-to-day basis. At year end, declared dividend income is also accured. (e) Renovation and establishment of branches It is the Bank's policy not to capitalise expenditure incurred on renovation and establishment of branches but to treat it as outright expenditure in the year it was incurred.

Fixed Assets The cost and accumulated depreciation of these assets at 31st December were as follows:-

3. Interest in Subsidiary

In 1980, the Bank's interest in other subsidiaries and associated companies was transferred to POSB Investment (Pte) Ltd.

4. Comparative Figures The comparative figures in the accounts have been reclassified where appropriate to conform with this year's presentation. Post Office Savings Bank Changes and Trends, 1960-1980

Directory of Offices

POSB Headquarters 14. Dempsey Road 27. Tanglin Domain Block 4, 524 Rochor Road 1. POSB Headquarters Singapore 1024 Singapore 0718 Middle Road Singapore 0718 15. Empress Place (Principal Branch) 28. Serangoon Road (Principal Branch) Government Offices Building 291 Serangoon Road Empress Place Singapore 0821 On-Line Independent Branches Singapore 0617 29. Taman Warna 2. Robinson Road (Principal Branch) 16. Clifford Centre (Principal Branch) Taman Warna/North Unit G2, CPF Building Unit 118, 1st Floor Singapore 1027 Singapore 0106 Clifford Centre 24 30. 3. General Post Office Singapore 0104 26 & 27 Block 1 Fullerton Building Tanjong Pagar Plaza Singapore 0104 17. Jalan Eunos Kee Seng Road Block 6, 2647 & 2649 Singapore 0208 4. Alexandra Eunos Crescent Block 136, No 165 Alexandra Road Singapore 1441 31. Thomson Plaza Singapore 0315 G 37, 301 Road 18. Joo Chiat Singapore 2057 5. Ang Mo Kio Central (Principal Branch) 437 Blk 713, 4040 Ang Mo Kio, Avenue 6 Singapore 1542 32. Singapore 2057 Block 28, 141-147 19. Jurong Tiong Bahru Road 6. Ang Mo Kio West NES Building Singapore 0316 Block 226G, 687 & 689, Corporation Road Ang Mo Kio, Avenue 1 Singapore 2261 33. Toa Payoh Central (Principal Branch) Singapore 2056 198-200 Block 178 20. Jurong Town (Principal Branch) Toa Payoh Central 7. Ang Mo Kio North 19 & 21 Block 106 Singapore 1231 Blk 629, 1018 Ang Mo Kio, Avenue 4 Yung Kuang Road Singapore 2056 Singapore 2261 34. Upper Pickering (Principal Branch) Block 3, 27 8. Ang Mo Kio East 21. Marine Parade (Principal Branch) Upper Pickering Street Blk 452, 1793 Ang Mo Kio, Avenue 10 Block 83, 584/586 Marine Parade Singapore 0105 Singapore 2056 Singapore 1544 35. Alexandra Village 9. Bedok Central (Principal Branch) 22. Market Street 6/8 Block 121 Blk 213, 103 Bedok North Street 1 Ground Floor Bukit Merah Lane Bedok Town Centre Multi-Storey Car Park Singapore 0315 Singapore 1646 Market Street Singapore 0104 36. Road 10.. Bedok North Block 2, 641 Balestier Hill Blk 539A, 475 Bedok North Street 3 23. Mountbatten Shopping Centre Singapore 1646 1st Floor, Hawker's Centre Thomson/Balestier Road Junction Old Airport Road Singapore 1232 11. Boon Lay (Principal Branch) Singapore 1439 108/112 Boon Lay Shopping Centre 37. Bendemeer Road Boon Lay Place 24. Newton (Principal Branch) Block 25, 605 Bendemeer Road Singapore 2264 135 Bukit Timah Road Singapore 1233 Singapore 0922 12. Bukit Timah Plaza 38. Bukit Merah Central LG 7 Bukit Timah Plaza 25. Pearl's Centre Blk 161, 3727/3729 Jalan Anak Bukit Unit G11, Pearl's Centre Bukit Merah Central Singapore 2158 100 Eu Tong Sen Street Singapore 0315 Singapore 0105 13. Clementi Central (Principal Branch) 39. Village Blk 449, 243/247 26. Queenstown 2037 Block 5 Clementi Avenue 3 1st Floor, Hawker's Centre Upper Changi Road Singapore 0512 Commonwealth Avenue Singapore 1750 Singapore 0314 40. Chin Swee Road 53. Pandan Valley 65. Metro Grand Unit G17/20 Manhattan House Block B, Unit 210 3rd Floor, Lucky Plaza Chin Swee Road Pandan Valley Condominium Singapore 0316 Pandan Valley Singapore 0923 Singapore 2159 41. Coronation Plaza 66. Metro Orchard Unit 115, 1st Floor 54. 3rd Floor, Holiday Inn Coronation Shopping Plaza 4 Jalan Tampang Scotts Road Bukit Timah Road Off Sembawang Road, 20 km Singapore 0922 Singapore 1026 Singapore 2775 67. Yaohan 42. East 55. Simpang Bedok Yaohan Katong Shopping Centre, Block 95, 489/491 314 Bedok Shopping Complex 2nd Floor Crescent Bedok Road Amber Close Singapore 1438 Singapore 1646 Singapore 1545

43. 56. Singapore Polytechnic 68. Yaohan Orchard Block 10, 88 Ghim Moh Road G104/105 Polytechnic Centre Yaohan Plaza Singapura, Basement 2 Singapore 1027 Dover Road 68 Orchard Road Singapore 0513 Singapore 0923 44. Hillview Branch Block 17, 1314 Hillview Avenue 57. East Singapore 2366 155 Blk 10 Telok Blangah Crescent On-Line Savings Bank Singapore 0409 Counters at Post Offices 45. Jalan Sultan G2, Jalan Sultan Centre 58. Telok Blangah West 69. Alexandra Post Office Singapore 0719 424 Blk 81 110, Alexandra Road Telok Blangah Drive Singapore 0315 46. Singapore 0409 Block 67, 469 Kallang Bahru 70. Balestier Estate Post Office Singapore 1233 59. Toa Payoh East 344 Blk 74 Whampoa Drive 736 Block 20 Singapore 1232 47. Lorong 7 Toa Payoh Room SC 207, Yusof Ishak House Singapore 1231 71. Bras Basah Post Office Kent Ridge Campus Block 231, 3 Bain Street National University of Singapore 60. Upper Serangoon Singapore 0718 Singapore 0511 766 Upper Serangoon Road Singapore 1953 72. Brickworks Estate Post Office 48. Keppel Harbour 4538 Blk 1 Jalan Bukit Merah 331 Telok Blangah Road 61. West Coast Road Singapore 0315 Singapore 0409 296 Blk 501 West Coast Road Singapore 0512 73. Post Office 49. Macpherson Chua Chu Kang Road, 16.5 km G12, Great Eastern Hotel 62. Whampoa Drive Singapore 2368 401 Macpherson Road Block 102, 12 Whampoa Drive Singapore 1336 Singapore 1232 74. Colombo Court Post Office Ground Floor, City Hall 50. 63. Woodlands Central Singapore 0617 Block 18, 265 Blk 2, 134/136 Marsiling Lane Woodlands Town Centre 75. Covent Garden Post Office Singapore 2573 Singapore 2573 179 Block 92 Zion Road Singapore 0316 51. Orchard Road 1st Floor, Cold Storage Supermarket Superbanks 76. Farrer Road Post Office 174-184 Orchard Road Farrer Road Singapore 0923 64. Metro Golden Mile Singapore 1026 Ground Floor 52. Orchard Towers Metro Golden Mile 77. Geylang Post Office Unit G7 Orchard Towers Merlin Plaza, Beach Road 447 Geylang Road Rear Block Singapore 0719 Singapore 1438 Claymore Drive Singapore 0922 Directory of Offices (continued)

78. Haig Road Post Office 93. Post Office Off-Line Savings Bank Block 12, 349 Haig Road Seletar Counter at Post Office Singapore 1543 Singapore 2879 106. Post Office 79. Henderson Post Office 94. Sembawang Post Office Pulau Bukom 219, Block 116, Bukit Merah View Sembawang Road, 21.5 km Singapore 01 Singapore 0315 Singapore 2775 80. Post Office 95. Post Office Cash-On-line 37 Block 2, Seletar Road Serangoon Garden Way Singapore 2880 Singapore 1955 Automated Tellers 1. Robinson Road POSB Branch 81 Post Office 96. Post Office Unit G2, 79 Robinson Road 734 North Bridge Road Podium G39, DBS Building Singapore 0106 Singapore 0719 6 Shenton Way Singapore 0106 82. Katong Post Office 2. POSB Headquarters Middle Road 373 Tanjong Katong Road 97. Post Office Singapore 0718 Singapore 1543 Upper East Coast Road Singapore 1545 83. Killiney Road Post Office 3. Bedok Central POSB Branch Blk 213, 103 Bedok North Street 1 Killiney Road 98. Singapore Airport Post Office Bedok Town Centre Singapore 0923 Singapore Airport Singapore 1641 Singapore 1953 84. Kreta Ayer Post Office 4. General Post Office Blk 333, 01-17 Kreta Ayer Road 99. Still Road Post Office Fullerton Building Singapore 0208 Still Road Singapore 0104 Singapore 1542 85. Lim Ah Pin Road Post Office 5. Cold Storage Supermarket Lim Ah Pin Road 100. Tanglin Halt Post Office 176-184 Orchard Road Singapore 1954 119-S Blk 39 Singapore 0923 Tanglin Halt Road 86. Macpherson Road Post Office Singapore 0314 Macpherson Road 6. Metro Grand 3rd Floor Lucky Plaza Singapore 1334 101. Tanglin Post Office (Drive-in) Orchard Road 60 Tanglin Road 87. Maxwell Road Post Office Singapore 1024 Singapore 0923 Maxwell Road 7. Metro Orchard Singapore 0106 102. Teban Garden Post Office 3rd Floor Holiday Inn Building Block 38, 316-317 Teban Garden Road Scotts Road 88. Nee Soon Post Office Singapore 2260 Road, 16.5 km Singapore 0922 Singapore 2677 103. Thomson Road Post Office 8. Metro Supreme Upper Thomson Road 9 km Basement 1 89. North Canal Road Post Office Singapore 2057 North Canal Road Supreme House Singapore 0923 Singapore 0105 104. Toa Payoh Central Post Office 344, Block 187 9. Metro Golden Mile 90. Post Office Lorong 6 Toa Payoh 1st Floor, Metro Golden Mile Pasir Panjang Road, 11.5 km Singapore 1231 Singapore 0511 Merlin Plaza Beach Road 105. Toa Payoh North Post Office Singapore 0719 91. Pay a Lebar Post Office 1117 8c 1119 Block 203 Road, 9 km Toa Payoh North 10. Metro Bukit Timah Singapore 1954 Singapore 1231 LG Bukit Timah Plaza 92. Plaza Singapura Post Office Singapore 2158 Gl, Plaza Singapura Shopping Complex 11. Metro Marine Parade Orchard Road Blk 87, 500 Marine Parade Singapore 0923 Singapore 1544 12. Yaohan Orchard 24. Clifford Centre Branch Daiwa & Partners Asia Capital Basement 2, Yaohan Plaza Singapura Unit 118 1st Floor Management Co Ltd 68 Orchard Road Clifford Centre Podium 517, DBS Building Singapore 0923 24 Raffles Place 6 Shenton Way Singapore 0104 Singapore 0106 13. Yaohan Katong 2nd Floor, 25. Jardine Steps Banque Nationale de Paris Yaohan Katong Shopping Centre World Trade Centre (South East Asia) Ltd Amber Close Maritime Square Unit 4201, 42nd Floor Singapore 1543 Singapore 0409 Hong Leong Building 16 Raffles Quay 14. Boon Lay Branch 26. Queenstown Branch Singapore 0104 108/112 Boon Lay Shopping Centre 1st Floor Hawker's Centre Boon Lay Place Commonwealth Avenue Marina Centre Holdings Pte Ltd Singapore 2264 Singapore 0314 1801/2, 18th Floor Shing Kwan House 15. Cortina Departmental Store 27. Simpang Bedok Branch 4 Shenton Way Lower Ground Floor 314 Bedok Shopping Complex Singapore 0106 Colombo Court Bedok Road Singapore 0617 Singapore 1646

16. John Little (Robina House) Ground Floor, Robina House Subsidiary Companies Shenton Way Singapore 0106 Credit POSB Pte Ltd 9th Floor, CPF Building 17. Ministry of Education 79 Robinson Road Ground Floor, Singapore 0106 Ministry of Education Building Kay Siang Road POSB Investment Pte Ltd Singapore 1024 4th Floor, Serangoon Building 291 Serangoon Road 18. NTUC (Welcome) Supermarket Singapore 0821 Ang Mo Kio 2003 Block 701 Avenue 3 POSB Computer Services Pte Ltd Ang Mo Kio 13th Floor, CPF Building Singapore 2056 79 Robinson Road Singapore 0106 19. NTUC (Welcome) Supermarket Serangoon Garden Mons Ads Pte Ltd 9 Portchester Avenue 179A Goldhill Shopping Centre Singapore 1955 Thomson Road Singapore 1130 20. NTUC (Welcome) Supermarket Toa Payoh 672 Block l92 Lorong 4 Associate Companies Toa Payoh The Discount Company of Singapore Ltd Singapore 1231 Room 1404, 14th Floor 21. Airport UOB Building Ground Floor Departure Building 1 Bonham Street Raffles Place Singapore 1953 Singapore 0104 22. Cold Storage Jelita Branch Holland Road Asia Capital Fund Ltd Singapore 1027 c/o Podium 517, DBS Building 6 Shenton Way 23. Bedok North Branch Singapore 0106 475 Block 539A Bedok North Street 3 Singapore 1646