Singapore Post Limited announced that it has entered into a sale and purchase agreement with Pacific Equity Partners (“PEP”) for the sale of its Australia business, Freight Management Holdings Pty Ltd (“FMH”). PEP shall acquire the Australia business at an enterprise value of A$1.02 billion (approximately S$897.6 million), which translates into A$775.9 million (approximately S$682.81 million) in cash and generates an expected gain on disposal of approximately S$312.1 million, subject to … [Read more...] about SingPost to divest Australia business at A$1.02bn in enterprise value
SingPost
SingPost’s Australian unit eyes purchase of Border Express
Freight Management Holdings or FMH, a subsidiary of Singapore Post, has entered into a conditional sale and purchase agreement with the shareholders of Border Express, for a maximum purchase consideration of A$210 million, or approximately S$183 million. Border Express is considered the 6th largest national transport and distribution services company in Australia with comprehensive freight connectivity, warehouses and regional centres. It provides end-to-end interstate logistics services … [Read more...] about SingPost’s Australian unit eyes purchase of Border Express
SingPost names new CEO for international
Singapore Post Limited (SingPost) has elected Mr Li Yu as CEO for its international business with effect from 12 September 2022. Mr Yu possesses over 17 years of experience spanning across Engineering, Operations, Project Management, Customer/Sales support, Strategy, and Technology implementation. He joins SingPost's management team from United Parcel Service (UPS), where he was most recently responsible for its APAC Global Logistics and Distribution. Yu also has experience in … [Read more...] about SingPost names new CEO for international
SingPost names new information chief
National postal service operator Singapore Post Limited (SingPost) has appointed Noel Singgih as its Group Chief Information Officer (CIO) in July 2022. With more than 20 years of experience, Mr Singgih joins the management team from DHL Supply Chain, where he was the unit’s chief information officer for Asia Pacific. Mr Singgih, who spent a decade with DHL, held several key leadership roles, amassing a wealth of expertise in developing IT solutions for global customers. Mr Vincent … [Read more...] about SingPost names new information chief
SingPost eyes stake in Australian 4PL to boost e-commerce push
Singapore Post (SingPost) is looking to purchase a 38 percent stake in Freight Management Holdings (FMH), a fourth-party logistics (4PL) service company based in Victoria, Australia, for US$62 million (A$85.0 million). Its wholly-owned subsidiary SingPost Logistics Holdings on 16 October entered into a conditional sale and purchase agreement with the existing shareholders of FMH, as well as share subscription agreement with the Australian 4PL for the stake purchase, according to a bourse … [Read more...] about SingPost eyes stake in Australian 4PL to boost e-commerce push
Cainiao expands last-mile network in Singapore to drive e-commerce
Cainiao Smart Logistics Network (Cainiao Network) announced the expansion of its last-mile network in Singapore to shorten delivery time for e-commerce parcels and improve customer experience, a press release confirmed. Alibaba’s logistics arm forged partnerships with SingPost, BEST Logistics, Roadbull and Park N Parcel, to provide more competitive pricing and last-mile service offerings for Singapore’s consumers. Aside from home deliveries through the 600 couriers in its … [Read more...] about Cainiao expands last-mile network in Singapore to drive e-commerce
