SingPost furthers its strategic ambition in Australia

SingPost furthers its strategic ambition in Australia

Singapore Post (SingPost) is looking to buy a 38 % stake in Freight Management Holdings (FMH), a fourth-party logistics (4PL) service company incorporated in Victoria, Australia for A$85 million (S$84.1 million) in cash.

SingPost’s wholly-owned subsidiary SingPost Logistics Holdings entered into a conditional sale and purchase agreement on Oct 16 with existing shareholders of FMH, as well as a share subscription agreement with FMH for the stake purchase, SingPost said in a filing on Monday morning.

On completion of the acquisition, SingPost Logistics intends to set up a new holding company in Australia to hold its equity interest in FMH.

The company explained the investment in the filing: “Together with the SingPost Group’s other businesses in Australia – CouriersPlease as well as one of SingPost’s other Australian subsidiaries, Quantium Solutions Australia, an eCommerce logistics solutions provider – the SingPost Group is able to derive synergistic benefits, grow volumes and build scale.

The combination enables the SingPost Group to provide an end-to-end B2B2C logistics solution for customers serving both Business-to-Business (B2B) and Business-to-Consumer (B2C) channels, and provide a seamless logistics service within Australia and the wider Asia-Pacific region.

This provides a strong platform for the SingPost Group to drive revenue and earnings growth, as well as further its strategic ambition in Australia over the long term.”

Relevant Directory Listings

Listing image

SwipBox

Focus on the user experience SwipBox is focused on creating the world’s best user experience for delivering and picking up parcels using parcel lockers. Through a combination of intuitive network management software and hassle-free, app-operated parcel lockers, SwipBox delivers maximum convenience to logistics providers, retailers […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Post & Parcel
InPost “bringing the parcel experience up to date with consumers’ lifestyles”
Austrian Post’s market share in the parcel business rises to 56%
Just Eat on Prosus offer: We are looking forward to an exciting future together
Poste Italiane: we have exceeded our financial targets
PostNL acknowledges that government needs to “carefully assess the future of the postal market”
InPost “bringing the parcel experience up to date with consumers’ lifestyles”
Austrian Post’s market share in the parcel business rises to 56%
Just Eat on Prosus offer: We are looking forward to an exciting future together
Poste Italiane: we have exceeded our financial targets
PostNL acknowledges that government needs to “carefully assess the future of the postal market”
SingPost furthers its strategic ambition in Australia
1
2
3
4
5
Listing image
Listing image
Listing image
Listing image
New GCFO for SingPost
SingPost welcomes Neo Su Yin back as  Group Chief Operating Officer
SingPost has fired its GCEO, GCFO AND CEO-IBU citing “gross negligence”
SingPost’s Australia business to be acquired by Pacic Equity Partners for A$775.9 million in cash
Share This