Postal Digest – Postal news from China, Spain, Latvia and Malaysia
A round-up of more postal news from around the world, including new Malaysian express products, a union deal in Latvia and money transfer services in Spain…
China Post to float express unit
China Post Group has received a green light from regulators to float its China Postal Express & Logistics unit on the Shanghai stock exchange, according to Chinese media.
The move to issue around 4bn shares in an initial public offering could raise up to 9.98bn yuan ($1.59bn USD), although it has not been publicly confirmed when the IPO might take place.
Reports of the IPO are confirmed by documents from the China Securities Regulatory Commission, with China Post reportedly looking to use the investment from a share sale to fund new warehousing facilities and delivery vehicles.
Correos signs 5-year Western Union deal
Spain’s Correos has renewed its working relationship with money transfer specialist Western Union for a further five years.
The company said the deal would see the services available through 2,260 of Spain’s 2,260 post offices expand to include Western Union Business Solutions services, which sets up custom arrangements for businesses of all sizes to send international payments. The deal will keep Correos locked into a worldwide network of 500,000 Western Union agents, spreading to 200 countries.
Javier Cuesta, president of Correos, said: “We hope this new agreement will improve and increase the supply to our customers and position the post as one of the most advanced operators in international remittances, both for individuals and businesses.”
Latvian Post signs work contract with union
Latvian Post has said it has finally agreed a collective bargaining agreement with the Latvian Communication Workers’ Union, after several years of negotiations.
The deal replaces the previous agreement that has been in place since 1999, and takes account of ongoing reforms at the Post as it faces the opening up of Latvia’s postal market to full competition in 2013.
“Currently we are working very aggressively to regain customers lost in recent years, and we are succeeding in that,” said Latvian Post chairman Māris Kleinbergs.
Pos Malaysia launches prepaid express products
Pos Malaysia has launched new express products aiming to take the hassle out of using the mail – a PosLaju Prepaid Box and Prepaid Envelope – available in 300 postal outlets.
The new products mean customers no longer have to calculate postage based on weight, although the three available sizes of Prepaid Boxes and two sizes of Prepaid Envelopes do come with weight limits attached. The products will be delivered next day where possible, or one-to-three working days to outlying areas.
Launching the products, Pos Malaysia group chief executive Khalid Abdol Rahman said: “PosLaju Prepaid Box and Prepaid Envelope is very convenient for customers, especially those who are on the go, as you only need to purchase the box or envelope and just PosLaju it!”
