Tag: Asia

India Post to set up a bank

Posted by | Aug 17, 2006 | |

In a dramatic attempt to wipe out the Rs 1,000 crore deficit that India Post currently runs, it has started work to set up a bank. Tentatively called the Post Bank of India, sources say it will start operating with 30 branches towards the end of this year – next year on the outside.

During the course of the 11th five year plan, the idea is to open 1,500 branches across the country. In many ways, the move mirrors a transformation that was engineered by the Italian postal service.

After years of mounting losses broke its back, Poste Italiana started using its network to run everything, from a bank to selling vacuum cleaners. The gamble paid off and CEO Massimo Sarmi is now spoken of in revered tones.

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EMS quickens deliveries to regain share

Posted by | Aug 16, 2006 | |

Express Mail Service (EMS), operated by state-owned China Courier Service Corp., has sped up its deliveries in a bid to regain its decreasing market share.

Now it takes just more than ten hours to deliver an express mail from Shanghai to Beijing, about two hours shorter than before. Moreover, EMS deliverers are dressed in orange, a change from the former green, and equipped with data collection machines, which provide timely information about the delivery process.

With millions of Chinese yuan put into upgrading facilities, adjusting networks and improving systems, EMS has accelerated both inside and outside the country.

It is the biggest move for EMS since it started twenty-six years ago. It has finally got moving when the Chinese express market is crowded with more and more privately owned express companies and global logistics titans.

EMS’ acceleration is mainly depending on upgrading equipment and optimizing operation, an upgrading model focusing on technologies.

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DHL to delist Blue Dart from bourses

Posted by | Aug 14, 2006 | |

Blue Dart Express Ltd, which was acquired by the Deutsche Post AG through its subsidiary DHL Singapore Pte Ltd last year, has initiated the process of delisting from the Indian stock exchanges, at the behest of its new promoter.

The Blue Dart’s board is to consider the proposal at its meeting scheduled for Thursday. In a notice to stock exchanges on Monday, Blue Dart said the company has received a notification from DHL Express (Singapore) Pte Ltd, to purchase the outstanding publicly held shares of the company, and delist it under the prevailing regulations.

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Blue Dart board meet Aug. 17 to consider DHL offer

Posted by | Aug 14, 2006 | |

The majority shareholder of Indian express delivery firm Blue Dart Express Ltd. has offered to buy out all outstanding shares at 550 rupees a share, the company said on Monday.

Blue Dart board would meet on August 17 to consider the offer from DHL Express (Singapore) Pte. Ltd., which owns 81.03 percent of the company, and take a decision on consequent delisting.

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ROK Daily: Korea Post Officials to Visit Kazakhstan

Posted by | Aug 14, 2006 | |

SEOUL (Yonhap) South Korea’s postal service Korea Post will send two of its employees to its counterpart in Kazakhstan to help a South Korean company win a bid to provide a consulting service on upgrading postal work in the Central Asian country, it said Monday.

The plan is to help SK C&C, an IT service company that is part of SK Group, clinch an USD 8 million consulting service deal to modernize the postal service in Kazakhstan, the state-run organization said. SK Group is South Korea’s fourth-largest conglomerate.

The two experts will offer consulting on constructing a postal service network and computer systems, as well as introducing equipment for postal work, it said.

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