Singapore Post (SingPost) has announced two recent investments in Hong Kong, which it says will “strengthen its e-Commerce logistics presence in Hong Kong and establish an integrated ecosystem for parcel deliveries across multiple channels.”
In a statement, SingPost said that it had purchased a 33% stake in Morning Express & Logistics Ltd for HK$39.6m (about US$5.02m) from Morning Express & Logistics Holdings Ltd (ME
Holdings), which SingPost said will give it “tangible e-Commerce logistics and last-mile delivery capability in Hong Kong”.
In addition, SingPost has taken a 50% stake in E Link Station Ltd (ELink) for HKD8.0m (about US$989.000). SingPost said that ELink has “a rapidly expanding network of self-collection parcel service points.”
SingPost made both transactions through its subsidiary Quantium Solutions Holdings Pte. Ltd.
Commenting on the investments, Dr Wolfgang Baier, Group CEO of SingPost, said: “Hong Kong, being a gateway to China, is a priority market for SingPost and a node in our pan-Asian network through which we serve our customers and partners."
Nol van Fenema