Tag: Mail Services

Postcomm publishes decision document on its interim review of 2006-10 Price Control (UK)

Posted by | Jan 10, 2008 | |

Postcomm has published a decision document confirming its proposals made in August 2007 that Royal Mail should be given extra flexibility to increase some retail prices and that access margins should be left unchanged.

These decisions are in response to the requests by Royal Mail, TNT Post and UK Mail for a review of some aspects of the 2006-10 Price Control.

As set out in Postcomm’s proposals document published in August, this decision would allow Royal Mail to raise the price of a second class stamp to 29p by 2010, subject to inflation (the original price cap was 26p). The price cap on a first class stamp will not be affected by this decision2.

In addition, Postcomm has decided to reject the requests from Royal Mail, TNT Post and UK Mail to change the margin between Royal Mail’s prices for bulk mail products and the amount Royal Mail charges other mail operators for access to its network and delivery of bulk mail over the ‘final mile’. Royal Mail had wanted to reduce the margin and the two Access operators argued that it should be increased.

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PIN Group attracting interest from CVC Capital

Posted by | Jan 10, 2008 | |

PIN Group, the troubled German mail delivery company that has put itself up for sale, has attracted interest from French, Austrian and Swiss postal services companies as well as from buyout firm CVC Capital, Handelsblatt said, citing unnamed consultants.

The sources said CVC, La Poste of France, Osterreichische Post and Suisse Post have contacted Axel Springer AG, PIN Group’s majority shareholder, the paper reported, adding that an Axel Springer spokeswoman declined to comment.

La Poste of France and Oesterreichische Post said they were not interested in PIN Group, Handelsblatt said.

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PhilPost-8 now accepts cargo services

Posted by | Jan 9, 2008 | |

The Philippine Postal Corporation (PhilPost), Region 8 headed by Regional Director Fabioleta P. Ferraris is proud to announce that their office now accepts transport of cargoes from one city or municipality to another for a minimal fee.

According to PhilPost Information Officer Designate Oscar E. Bioco, said postal service is facilitated through their mail service vehicle to and from the following post office points: Tacloban City – Ormoc City and way offices; Ormoc – Kanaga – Palompon – Isabel – Merida and way offices; Tacloban – Catbalogan, Samar – Calbayog City – Catarman, Northern Samar and way offices; and Tacloban – Borongan, Eastern Samar way offices.

Bioco added that other postal points are: Ormoc – Albuera – Baybay City; Tacloban – Baybay – Maasin and way offices; Maasin – Sogod, Souther Leyte and way offices; Sogod – Silago – Abuyog – Tacloban and way offices; Guiuan, Eastern Samar – Borongan, Eastern Samar; and lastly, Borongan – Oras, Eastern Samar and way offices.

Interested parties who want to avail of this cargo service, known as Priority Express or PREX, are required to inform the consignee to pick up said cargo at the post office destination point. Bioco said that Philpost guarantee’s a same day delivery of items posted within the specified cut-off time.

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China Postal Savings Bank opens 20th provincial-level branch

Posted by | Jan 9, 2008 | |

China Postal Savings Bank (CPSB) opened a provincial-level branch in eastern Zhejiang province on Wednesday, bringing the number of provinces in which it can conduct a full range of financial services to 20.

With 1,500 post office outlets already established in Zhejiang, CPSB, now China’s fifth largest commercial bank in terms of deposits following its inauguration nine months ago, will be able to provide credit card business, loans and financial management services in both urban and rural areas, according to a branch spokesman.

Post offices in China began to offer postal savings services in1986 but until now were not authorized to provide lending or credit card services.

There are 36,000 post office outlets nationwide, almost 60 percent of them in rural areas, and 270 million account holders.

CPSB has been officially approved to establish branches at all levels around the country, including 34 provincial-level branches and over 20,000 sub-branches, the China Banking Regulatory Commission said.

The bank’s governor Tao Liming previously said it aimed to open all its provincial-level branches by the end of this month.

By the end of October, CPSB had registered 1.7 trillion yuan (about 233 billion U.S. dollars) in deposits.

CPSB was inaugurated last March representing a substantial step forward in China’s financial reform and is expected to improve financial services in the country’s rural areas.

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UPS adopts new financial policy to enhance shareholder value

Posted by | Jan 9, 2008 | |

UPS today announced its Board of Directors has approved a change in financial policy regarding the company’s capital structure designed to enhance UPS’s value to shareowners. Under the new policy, UPS intends to significantly increase the debt component of its balance sheet.

Going forward, the company intends to manage its balance sheet to a target debt ratio within a range of 50-to-60 pct funds-from-operations-to-total-debt. Previously, there was no stated metric.

“We have been studying our capital structure options for some time,” said Kurt Kuehn, UPS’s chief financial officer. “This change in policy will permit us to make increased investments in the business, pursue selective acquisitions and undertake larger share repurchases.”

To begin implementation of the new policy, the Board authorized an immediate increase in the amount of funds available for stock repurchases from approximately USD 2 billion to USD 10 billion. The company intends to complete that level of share repurchases in the next 24 months. Repurchases may take the form of an accelerated share repurchase program, open market purchases or such other methods as the Board deems appropriate.

“UPS has had a long-standing commitment to a very strong balance sheet for decades and that will not change,” added Scott Davis, UPS’s chairman and CEO. “Indeed, we are putting that balance sheet strength to work to more efficiently deploy capital for the benefit of our shareowners. UPS’s consistent, stable cash flows mean we can accept a higher degree of debt while continuing to strategically grow our business.”

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