SingPost ups stake in 4PX

SingPost ups stake in 4PX

Singapore Post (SingPost) has acquired an additional 17.91% of the equity in Shenzhen 4PX Information Technology Co. Ltd for S$36m. Under the terms of the deal, SingPost through its wholly-owned subsidiary Quantium Solutions International Pte. Ltd. (QSI) now owns 35.91% of 4PX.

Headquartered in Shenzhen, PRC, 4PX is an e-commerce cross-border solutions providers, serving more than 20,000 merchants in more than 50 locations in China and globally.

Formed in 2004, 4PX has more than 2,600 employees and operates warehouses in China, Australia, UK, Germany and the US.

Ms Goh Hui Ling, Deputy CEO (International Mail) of SingPost, commented: “The additional investment in 4PX, with its extensive logistics capabilities in warehousing, express delivery and freight forwarding, is a key part of SingPost’s strategy to strengthen our integrated end-to-end eCommerce logistics solutions and to leverage on the rapid growth in China’s eCommerce activities.”

Kevin Li, Founder and Chairman of 4PX, added: “SingPost’s additional investment in 4PX will help 4PX to enhance its overseas operations. It will also provide China cross-border eCommerce merchants and consumers with better eCommerce logistics solutions and services, as well as propel 4PX to become the market leader in China cross-border eCommerce.”

 

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