Left: Quantium Solutions, a SingPost subsidary
Singapore Post (SingPost) has made significant investments in a logistics business and a self-collection parcel service point network based in Hong Kong.
The investments include the acquisition of a 33% stake in Morning Express & Logistics (ME) for HK$39.6m (US$5.1m), and an application for a 50% stake in E Link Station (ELink) for HK$8m (US$1m). Both investments would increase SingPost’s e-commerce logistics and last mile delivery capabilities in the region. SingPost made the investments through its subsidiary Quantium Solutions.
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. Morning Express gives us a strong last-mile and parcels capability in Hong Kong and extends our e-commerce value chain there, adding on to our warehousing, freight forwarding and front-end e-commerce.
“As a company, Morning Express has 28 years in the logistics business and is led by a professional management team whose thinking is remarkably similar to ours. ELink, on the other hand, is an extension of how we approach parcel deliveries elsewhere in many parts of the world that is, we give customers flexibility through multiple channels that include locker storage and redemption centers.”
September 2, 2015