Tag: Asia

China Post, French CNP launch joint-venture insurance business

Posted by | Mar 27, 2006 | |

China Post and French CNP Assurances announced the opening of their life insurance joint venture last Friday. The newly established Sino-French Life Insurance Co., Ltd is also China’s first insurance company invested by the banking or postal sector. With a registered capital of 200 million yuan (24.9 million U.S. dollars), the joint venture is equally shared by China Post and French CNP Assurances. China’s banking and postal sector is becoming an important channel to distribute insurance products. Currently, savings banking business has accounted for half of China Post’s total business, and its income from post offices acting as insurance agents topped 22 billion yuan last year.

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TNT opens dedicated national life science distribution centre in Shanghai

Posted by | Mar 22, 2006 | |

TNT today unveiled one of Asia’s most sophisticated medical logistics facilities in Shanghai, China. Constructed at a cost of 1 million Euro, the state-of-the-art facility in the WaiGaoQiao Free Trade Zone is TNT’s first dedicated Life Science National Distribution Centre (NDC) and will complement its Regional Life Science Distribution Centre (RDC) in Singapore. TNT’s China NDC was set up in response to the needs of the industry for bespoke services to cater to the world’s fastest growing healthcare market.

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Hongkong Post chief credits his staff for the growing profits after reversing five years of deficits

Posted by | Mar 20, 2006 | |

Postmaster-General Allan Chiang Yam-wang knows just how important it is to deliver messages on time – not just the mail, but also corporate news to staff. When Mr Chiang took the helm in 2003, he was faced with a sea of red – Hongkong Post’s five consecutive years of losses. While he was there to make decisions, he realised that the staff needed to know what the financial position was with the post office. “We had not done enough in linking people in the past,” said Mr Chiang, who defined the interaction between his staff and the public as a way of linking people. And all the hard work is paying off, with the post office posting a 225 million dollars profit in the last financial year – up 1,223 per cent on the 17 million dollars profit of 2004, ending five years of deficits.

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Indian express encounters postal delay

Posted by | Mar 17, 2006 | |

Global express and courier major TNT has pledged investment of Euro 100 million in India in the next five years. Blue Dart Express, in which DHL took a 68% stake in 2004, will induct two of the latest generation 757 aircraft into the Indian market in June taking its fleet size to 7. First Flight Couriers will also ramp up its fleet in June as part of a Rs 50 cr infusion. Even Anil Ambani controlled Reliance Capital recently acquired a 44% stake in the Rs 150 cr DTDC.
With such large investments in the pipeline, the Rs 4,000 cr express and courier industry is vociferous in its protest against a government move to yet again table the Indian Postal Act Amendment Bill which will allow the department of posts the authority to regulate the industry and also to reserve the business in the below 500 gms category for India Post only.

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Japan Post's planned JV with TNT to be delayed

Posted by | Mar 15, 2006 | |

Japan Post and Dutch mail and logistics giant TNT NV now expect the launch of their planned joint venture to be far behind the original schedule of April, Japan Post President Masaharu Ikuta said Wednesday. Last October, the two firms agreed to set up the venture in April to start joint express transport and delivery services in the Asia-Pacific region. It is uncertain when the two firms will be able to form the new firm, Ikuta told a news conference, adding that they will continue talks on the matter. Japan Post hopes the planned overseas business will be a major source of revenue, as it faces falling demand for its domestic mail service. In the talks on the joint venture, TNT has brought up many new proposals, Ikuta said.

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