Wolfgang Baier

Toll’s Paul Coutts to head Singapore Post

by

Toll Global Forwarding, Paul Coutts, has been appointed to the position of Group CEO of Singapore Post (SingPost) and also as a non-independent Director member of its Board, effective 1 June  2017. Coutts takes over from Wolfgang Baier who submitted his surprise resignation in early December 2016. In a statement,  the chairman of SingPost, Simon Israel, said: “The SingPost Board is delighted to announce Paul's appointment as Group CEO. Given his seniority and the experience he brings from an … [Read more...] about Toll’s Paul Coutts to head Singapore Post

SingPost divests 90% stake in DataPost

by

Singapore Post (SingPost) has entered into a sale and purchase agreement with Jing King Tech Solutions to dispose its 90 per cent stake in DataPost for approximately S$39.3 million (approx. US$29.5 million). This is on the back of another divestment that SingPost made in May of its whole stake in Novation Solutions and DataPost Hong Kong for S$24.4 million. The company says that it is selling off stakes in the more traditional forms of the postal service business to support the … [Read more...] about SingPost divests 90% stake in DataPost

SingPost divests 90% stake in DataPost

by

Singapore Post (SingPost) has entered into a sale and purchase agreement with Jing King Tech Solutions to dispose its 90 per cent stake in DataPost for approximately S$39.3 million (approx. US$29.5 million). This is on the back of another divestment that SingPost made in May of its whole stake in Novation Solutions and DataPost Hong Kong for S$24.4 million. The company says that it is selling off stakes in the more traditional forms of the postal service business to support the … [Read more...] about SingPost divests 90% stake in DataPost

SingPost acquires 90% stake in Famous Pacific

by

SingPost has acquired a 90 per cent stake in Famous Pacific Shipping (NZ) Limited (FPSNZ) through its subsidiary Famous Holdings Pte Ltd. Famous Holdings has paid an initial consideration of NZ$3.6 million (US$2.82 million) for the stake and certain debts owing by FPSNZ to the vendors. A potential earn-out consideration of effectively up to NZ$4.4 million based on the adjusted actual net profit after tax of FPSNZ may also become payable, potentially bringing the total consideration up to … [Read more...] about SingPost acquires 90% stake in Famous Pacific