Tag: Asia

Post offices to sell new UTI mutual fund

Posted by | Jul 6, 2007 | |

Coimbatore: The Postmaster General, Western Region, K.V. Sundar Rajan, launched the sale of UTI India Lifestyle Fund through post offices here on Wednesday.

The fund opened on July 2 and closes on July 25. The minimum investment is Rs. 5,000 and in multiples of Re. 1. The allotment date is August 16, this year and the maturity date is August 17, 2010.

The fund will be a three-year, close-ended equity scheme with automatic conversion into an open ended scheme on maturity. Investors have the growth option and dividend option.

The fund will be invested in equity and equity-related securities of companies, including those in the derivatives segment.

‘The fund will seek to benefit by investing in those companies and sectors which will profit from the domestic consumption led boom,’ according to a brochure on the fund.

Individuals, institutions, non-resident Indians and Foreign Institutional Investors are the eligible investors.

Mr. Sundar Rajan urged the postal staff to educate investors on the security available in investing in mutual funds.

‘Today, mutual fund is a vibrant, growing market. A customer should be informed that mutual funds are a relatively safe investment,’ he said.

Unlike earlier days, when not many options were available to investors, now they had several products to invest their money.

The Postal Department had a huge network and was able to mobilise a lot of investments through this network. This was why several companies preferred to launch the sale of their products through post offices, Mr. Sundar Rajan added.

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Japan Post Expands Parcel Delivery Market Share in FY '06

Posted by | Jul 4, 2007 | |

Japan Post expanded its market share for parcel delivery services in Japan by 0.6 percentage point from the previous year to 8.4 pct in fiscal 2006 that ended in March, it was learned Wednesday.

As a result, Japan Post, to be privatized in October, moved up to fourth from fifth in the market share rankings, as its “Yu-Pack” service performed well, according to data compiled by the transport ministry and other organizations.

The top three spots in the rankings were unchanged from the previous year. Yamato Transport Co. retained top position with a 36.6 pct share, up 1.0 point, followed by Sagawa Express Co. with a 32.4 pct share, up 0.9 point. Nippon Express Co. remained third with a 10.7 pct share.

The overall number of parcels handled in Japan inched up 1.0 pct to 3,207.14 million for fiscal 2006, indicating that the Japanese parcel delivery market is reaching saturation point.

The top three spots in the ranking for number of parcels were also unchanged. Yamato maintained its lead, with 1,174.56 million, up 4.0 pct. Sagawa was second with 1,037.87 million, up 3.6 pct, followed by Nippon Express with 342.87 million, up 0.5 pct.

Japan Post’s figure increased 8.6 pct to 267.95 million, the fourth highest, on the back of tie-ups with department store chains.

But Fukuyama Transportation Co. saw its number of parcels plunge by 26.0 pct to 20.46 million. The company’s market share fell 2.2 points to 6.3 pct, dropping it to fifth place from fourth.

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Indonesia to allow up to 95.5% foreign stake in courier firms

Posted by | Jul 3, 2007 | |

The government has prepared a draft regulation allowing foreign investors to own up to 95.5 per cent of a courier company in the country.

Under the present regulation a foreign investor is allowed to have up to 95 per cent stake in a freight forwarding company but not more than 49 per cent in a courier company.

Postal Service Director Woro Indah Widiastuti said the draft regulation has been in the office of the trade minister for approval.

Earlier the association of logistic companies (Asperindo) urged the government to allow foreign investors to wholly own a logistic company to attract foreign investors, but their operation areas should be restricted.

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New PIN code for bulk mail in Chennai

Posted by | Jul 1, 2007 | |

Chennai is one of the cities identified for the launch of a new system of six-digit PIN (postal index number) code, aimed at serving bulk recipients of mail.

As the new PIN codes will be customer specific, it would suffice if senders of mail or articles wrote the respective PIN code. There will be no need for writing the detailed postal address.

Under the proposed system, the first three digits will indicate the existing sorting district.

For instance, in the case of Chennai, the first three digits will remain as 600. But, the last three digits, to be assigned by the State-level or regional-level postal authorities, will be unique to each customer.

Apart from individual bulk addressees, the PIN codes are going to be earmarked for specific buildings such as Rajaji Bhavan, where a large number of offices are located. The customer PIN codes will be provided to the bulk addressees free of cost.

Sources say there is a provision for premium numbers with regard to the last three digits. But, they will be allotted by the Postal Directorate.

The rationale behind the new system is to facilitate automation and mechanization of mail processes, leading to speedy delivery. The proposed system is going to be launched in major cities and towns of the country as it has been found that almost all business mail get generated in the urban centers. Also, a majority of mail meant for delivery is also within 78 cities and towns.

At present, many bulk recipients of mail are subscribers of the post box system, under which they are required to collect their articles from the post offices. But, under the proposed system, postmen will deliver the mail at the places of the addressee.

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