SingPost continues acquisition spree, picks up stake in two HK companies

Visual from SingPost

Singapore Post has acquired two Hong Kong based companies as part of its ongoing strategy to extend its regional footprint through M&As and partnerships. This marks the latest in a series moves the SGX-listed company has undertaken to  invest in e-commerce and digital businesses in order to sustain its business, and avoid the fate of traditional postal companies across the region that are fighting for survival.

Singapore Post, or SingPost as it is popularly known, said it has subscribed to one million new shares in Hong Kong’s E Link Station for HK $8 million, representing 50 per cent of the issued shares

“The  consideration will be satisfied wholly in cash from the company’s internal resources. With the completion of the Subscription, EL becomes an associated company of the company. The subscription is not expected to have any material impact on the net tangible assets or earnings per share of the SingPost Group for the financial year ending 31 March 2016,” SingPost said.

The deal is routed through SingPost subsidiary Quantium Solutions Holdings Pte Ltd (QSH).

In a separate deal, QSH said it has acquired a 33 per cent stake in Hong Kong’s Morning Express & Logistics for HK$39.6 million (S$7.2 million). ME provides logistics, documents and parcel delivery services in Hong Kong and had  a net asset value of HK$9.1 million, as at end-January.

SingPost also has the option to make a further payment of the same amount – HK$39.6 million (S$7.2 million) – if certain terms and conditions are fulfilled.

“Both the first payment and the second payment (if materialized) will be satisfied wholly in cash from the company’s internal resources. With the completion of the Acquisition, ME becomes an associated company of the Company,” the company said in another regulatory filing.

In July, Mainboard-listed Singapore Post (SingPost) announced that its subsidiary, Famous Holdings Pte Ltd, has acquired 80 per cent stake in Rotterdam Harbour Holding BV (FPS Rotterdam), for 8.4 million Euros ($9.2 million). In the same month, the Alibaba Group had invested S$187.1m in SingPost, raising its stake in the Singapore company to 14.51 per cent.

In June, Singapore Post had invested A$4.3 million ($3.32 million) in cash for a 30 per cent stake in Australian e-commerce company Hubbed Holdings. That acquisition was indirectly made via wholly-owned subsidiary Quantium Solutions (Australia).

Also Read: 

SingPost unit buys 80% of FPS Rotterdam for $9.2m

Alibaba to invest S$187.1m in SingPost, to raise stake to 14.51%

Singpost acquires 30% in Australian e-commerce Hubbed for $3.32m

Trikomsel and SingPost form JV to tap e-commerce opportunities in Indonesia

SingPost acquires 90% stake in Famous Pacific

Forbes: Singapore Post’s Digital Makeover Creates A New E-Commerce Leader

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.