SingPost appoints new Singapore CEO amid business restructuring
The group is attempting to transform itself into a logistics company within three years. Read more at straitstimes.com.
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The group is attempting to transform itself into a logistics company within three years. Read more at straitstimes.com.
Freight Management Holdings Pty Ltd ("FMH"), a subsidiary of Singapore Post Limited ("SingPost" and "Group"), has entered into a conditional sale and purchase agreement with the shareholders of Border Express, Australia's 6th largest pallet and parcel distribution operator, for a maximum purchase consideration of A$210 million (approximately S$183 million).
SingPost’s Australian business expands integrated logistics network in Australia with proposed acquisition of Border Express.
The firm's core business incurred an operating loss of $16 million in the 2022/2023 financial year. Read more at straitstimes.com.
SingPost has seen a sharp decline in domestic letter volumes. Read more at straitstimes.com.