SingPost – BT
SingPost buys stake in China’s 4PX
SINGAPORE Post (SingPost) has, through its wholly owned subsidiary Quantium Solutions International (QSI), acquired a 20 per cent stake in Shenzhen 4PX Express Co for 60 million yuan (S$11.4 million).
4PX provides international express delivery services, freight forwarding, and import and export of goods and technology. It is also the global distribution partner for eBay and PayPal in the China market.
The investment in 4PX helps SingPost to develop a more balanced revenue and earning portfolio from growing non-mail revenue and increasing overseas contribution, SingPost’s CEO (postal and corporate services) Ng Hin Lee said. It also provides a platform for entry into the outbound logistics and the high-growth e-commerce market in China, the Asia Pacific region, and globally, especially the US, the UK and Australia, where 4PX has operations, he added.
SingPost’s regional business currently spans 10 countries in Asia Pacific.
According to Wolfgang Baier, SingPost’s CEO (international), the firm has invested in other logistics companies in the region such as GD Express Carrier Bhd in Malaysia, and Indo Trans Logistics Corporation in Vietnam. He said these companies provide the right fit for SingPost’s expansion, adding that the investment in 4PX will further boost SingPost’s ambition in e-commerce and regional logistics.