Tech in Asia — SingPost, Singapore’s national mail carrier which is rapidly diversifying its business, has posted record highs in annual revenue and net profit, driven by its ecommerce and logistics activities. Its 2015 revenue hit US$840 million, up 25 percent year-on-year. Net profit jumped 58 percent to US$181 million. Growth in its ecommerce and logistics revenue outpaced overall growth, soaring 60 percent and 35 percent to US$300 million and US$457 million, respectively.
Nikkei — SHANGHAI/SINGAPORE On Nov. 11, 2015, millions of Chinese consumers were glued to their smartphones, busily tapping away adding items to virtual shopping carts. Commonly known in China as “Singles’ Day,” what began in the early 90s as a party at Nanjing University was later seized upon by major retailers such as Alibaba Group Holding and turned into an online sale.
Tech in Asia — Singapore’s national and logistics company SingPost is waging a global campaign to conquer ecommerce, and it just added another notch on its belt. The Singaporean company announced today it has acquired US end-to-end ecommerce firm Trade Global. The news comes only days after SingPost announced the acquisition of a majority stake in another US company, logistics provider Jagged Peak.
Channel News Asia — SINGAPORE: SingPost will acquire a 96.3 per cent stake in US e-commerce provider TradeGlobal for US$168.6 million (S$236 million), in a move to expand its e-commerce footprint. TradeGlobal is a leading US e-commerce provider that offers services to fashion, beauty and lifestyle brands.
Nation Multimedia — Chinese e-commerce giant Alibaba Group Holding is investing about S$279 million (Bt7 billion) to expand its holdings in Singapore Post (SingPost) and take a share of its subsidiary, aimed at boosting growth in their e-commerce logistics platform across the Asia Pacific, the two companies announced last week.
Want China Times — Alibaba announced on July 8 an additional investment of 187 million Singaporean dollars (US$138 million) in Singapore Post, raising its stake to 14.51% from the 10.23% it acquired one year ago. It also obtained a 34% stake in Quantium Solutions, a logistics firm under the auspices of Singapore Post, for 92 million Singaporean dollars (US$67.85 million), according to caixin.com.
ZDNet — China’s Alibaba Group is increasing its stake and investments in Singapore Post (SingPost), pumping in US$206.45 million to drive the development of e-commerce infrastructure and services in the region. The Chinese e-commerce giant will invest an estimated S$92 million (US$67.85 million) for a 34 percent stake in SingPost-subsidiary Quantium Solutions International (QSI), which provides e-commerce logistics and fulfilment services including warehousing in the Asia-Pacific region.