Tag: Asia

SingTel to float post offices for DS628M

Posted by | Apr 22, 2003 | |

Singapore Telecommunications will float its Singaporean postal operations as early as next month, with plans to raise DS684 million (USD627.5 million). SingTel said it planned to sell 60 per cent of the postal business, with 1shares on offer at a price that could reach USD60c each. Final pricing will not be set until May 7, with shares expected to start trading on May 14, the company said. SingTel’s proposed float of the postal business places a value of DS1.1 billion on the division, around 10 to 11 times earnings for the 2002 year.

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Japan Post to Cut 11,000 Jobs by 2005

Posted by | Apr 18, 2003 | |

Japan Post, a public postal service corporation launched in April, plans to cut about 11,000 jobs by the end of March 2005, 3,000 more than planned by its predecessor the Postal Services Agency, it was learned Friday. The agency had aimed to cut 8,000 of its 140,000 workforce over the same period. The new public corporation is speeding up its rationalization program in the current severe business environment arising from the popularity of e-mail and the partial deregulation of postal services, informed sources told Jiji Press.

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Bill to regulate Indian courier firms round the bend

Posted by | Apr 15, 2003 | |

The Indian government will introduce a bill on regulating courier service firms during the forthcoming Parliament session, minister of state for communications and IT, Su Thirunavukkarasar, said here on Saturday. “At present, the government does not have any control on courier service companies. It even doesn’t know how many firms are working and how much and on what basis are they are charging. First, the government wants to regulate these firms. And at the same time, it is looking for some revenue from these firms,” he said.

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Yamato Transport to double parcel collection points to counter Japan Post

Posted by | Apr 13, 2003 | |

Yamato Transport Co plans to double the number of its parcel collection points to 5,000 in five years in an effort to better compete with Japan Post, which operates about 24,700 post offices nationwide, the Nihon Keizai Shimbun reported, citing company sources. Yamato hopes to set up more collection points in shops and other convenient locations and establish new offices dedicated to its direct mail service.

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Korea Post CEO Named Koo Yung-bo

Posted by | Apr 13, 2003 | |

Korea Post, a semi-state postal service operator, has named Koo Yung-bo, 52, as president, succeeding Lee Kyo-yong. In a statement, Koo said he would take a bold step to improve the postal service‘s competitiveness, seeking the real value of the postal service. The postal service operator, which has been in transition for partial privatization since 2000 as part of the government‘s reform measures, is expected to draw up a mid-term business proposal in a month based on the instruction offered by Information and Communication Minister Chin Dae-je.

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