- SingPost and Alibaba Group taking next step to establish end-to-end
e-commerce logistics platform - Alibaba investing in Quantium
Solutions International, a SingPost subsidiary
- Alibaba Group to increase equity stake in SingPost to 14.51 percent
subject to regulatory approval
- SingPost and Alibaba Group to enter into joint strategic business
development framework to improve efficiency and integration in
e-commerce logistics
Company Website:
http://www.alibabagroup.com
SINGAPORE -- (Business Wire)
Singapore Post Limited (“SingPost”) (STI: S08) and Alibaba Group Holding
Limited (“Alibaba”) (NYSE: BABA) announced today a series of new
initiatives for collaboration and growth following the signing of a
joint venture agreement. The three initiatives signal the deepening of a
business relationship that started last year and a commitment from both
parties to increase e-commerce logistics collaboration in the future to
build a leading e-commerce logistics platform to service the rapidly
growing e-commerce businesses across Asia Pacific and beyond.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20150707006625/en/
Alibaba Group and SingPost continue to expand their e-commerce logistics cooperation (Photo: Business Wire)
Initiative One: Alibaba will invest up to approximately S$92
million (US$67.85 million) in QSI for a 34 percent stake in Quantium
Solutions International (“QSI”), SingPost will hold the remaining 66
percent of the equity of QSI. QSI is currently a wholly owned subsidiary
of SingPost providing leading end-to-end e-commerce logistics and
fulfilment services across the Asia Pacific region. Its network spans
more than 10 countries and the company offers customers e-commerce
logistics solutions and warehousing across Asia Pacific.
QSI will reorganize its business and become the joint venture vehicle of
SingPost and Alibaba Group. This will allow QSI to ramp up its
development of e-commerce logistics infrastructure and services. In
addition, QSI will also become a platform for both parties to strengthen
their collaboration and realize synergies across their businesses. QSI
will encompass e-commerce warehousing, last mile delivery and other
end-to-end e-commerce solutions.
Initiative Two: Alibaba Group will purchase 107,553,907 new
ordinary shares amounting to 5 percent of the existing share capital of
SingPost for S$187.1 million (US$138.6 million). Upon completion,
Alibaba’s deemed interest on a fully diluted basis in SingPost will rise
from 10.23 percent to 14.51 percent. Alibaba Group’s acquisition of
additional equity in SingPost is subject to Info-Communications
Development Authority of Singapore (IDA) and SingPost’s shareholder
approvals. Alibaba Group acquired its initial stake in SingPost in 2014.
Initiative Three: SingPost and Alibaba have also entered into a
joint strategic business development framework to further improve
efficiency and integration of e-commerce logistics solutions. SingPost
and Alibaba will share their respective knowledge and leverage each
other’s strengths to scale across the e-commerce logistics value chain.
A joint Steering Committee will be created and drawn from their
respective executives.
Mr. Lim Ho Kee, Chairman of SingPost, said: "The pace of transformation
at SingPost has been accelerating steadily. As a postal service
provider, we are on a burning platform, facing a global decline in mail
revenue with trends like e-substitution and lifestyle changes. It is a
win-win situation for both of us because we share similar goals and have
a natural fit between our operations across Asia. On behalf of my fellow
directors, I welcome Alibaba as one of our partners on the next phase of
the journey.”
Mr. Daniel Zhang, Chief Executive Officer of Alibaba Group, said, “Over
the past year, Alibaba and SingPost have worked closely to explore cross
border e-commerce opportunities and created a series of customized
logistics solutions in various markets. This additional investment into
SingPost and establishment of a joint venture signify our commitment in
expanding our global logistics footprint, which in turn will help
Chinese businesses sell, and global brands deliver more easily around
the world.”
Dr. Wolfgang Baier, Group Chief Executive Officer of SingPost, said, “We
are now taking the next step by building a regional e-commerce logistics
platform and infrastructure for e-commerce players across Asia Pacific
based on Quantium Solutions – our e-commerce logistics subsidiary.
Alibaba started as our customer and then last year became our
shareholder and business partner. Today with the significant growth in
e-commerce ahead, both of us are convinced of the long term value of
working together in a win-win partnership for e-commerce businesses in
Asia Pacific.”
Full Details and Disclosure
This news release is to be read and understood in context with the
detailed disclosures made today by SingPost to the SGX-ST.
About Singapore Post Limited
Singapore Post (SingPost) is the leading provider of mail, logistics and
ecommerce solutions in Singapore and the Asia Pacific region, with
operations in more than 10 countries.
As Singapore’s national postal service provider, SingPost offers trusted
communications through domestic and international postal services as
well as end-to-end integrated mail solutions covering letter shopping,
delivery and mailroom management, among others. For over 150 years,
SingPost has been delivering a trusted and reliable service to customers
and businesses in Singapore.
As part of its transformation, SingPost has been steadily expanding
beyond Singapore, leveraging its regional platform Quantium Solutions
and other subsidiaries and partners. With its regional network and
infrastructure, SingPost offers fully integrated ecommerce logistics
solutions covering the four areas of freight, customs & regulations
management, warehousing & fulfilment, last mile delivery & returns, as
well as ecommerce web services, to its customers.
SingPost was listed on the Main Board of the Singapore Exchange in 2003
and is a constituent stock of various main global benchmark indices -
FTSE All-World Index Series, FTSE All-World Minimum Variance Index, FTSE
All-World High Dividend Yield Index, FTSE RAFI Index Series, FTSE Global
Infrastructure Index Series and FTSE ST Index Series. It has a strong
credit rating of ’A/Stable/NR’ by Standard & Poor’s.
SingPost won the World Mail Award for Retail Customer Access in 2015,
ecommerce, 2014 and People Management, 2013. SingPost also gained
international acclaim when it was bestowed the Service Provider of the
Year award by Postal Technology International in 2014 and 2012. SingPost
is the only company to win to the Universal Postal Union’s EMS
Cooperative award for its Speedpost courier service every year since
2001.
SingPost’s subsidiaries and businesses include:
-
SP eCommerce (http://www.specommerce.com/),
an ecommerce enabler that provides brands and retailers with
integrated end-to-end ecommerce solutions
-
Quantium Solutions (http://www.quantiumsolutions.com/)
which specialises in logistics and fulfilment services to businesses
in the Asia Pacific region
-
CouriersPlease (http://www.couriersplease.com.au/),
a leading metropolitan express parcel delivery service in Australia
-
Famous Holdings (http://www.famous.com.sg/),
an established freight consolidator and freight-forwarder with a
regional presence in 7 countries
-
Lock+Store (http://www.lockandstore.com/),
a self-storage operator in Singapore, Hong Kong and Malaysia
-
DataPost (http://www.datapost.com.sg/),
the biggest data print bureau in the Southeast Asia region
-
Speedpost (http://www.speedpost.com.sg/),
a leading provider for courier service in Singapore and international
shipping to more than 200 destinations across the globe
-
vPOST (http://www.vpost.com.sg/),
one of the largest online shopping and shipping services providers in
Southeast Asia
-
Omigo Marketplace (http://www.omigo.com.sg/),
Singapore’s online marketplace for consumers to shop and for SMEs and
international brands to sell online
-
SAM (https://www.mysam.sg/),
a digital mailbox with bill payment services which can be accessed
anywhere, anytime
For more information, please visit: www.singpost.com
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The
company is the largest online and mobile commerce company in the world
in terms of gross merchandise volume. Founded in 1999, the company
provides the fundamental technology infrastructure and marketing reach
to help businesses leverage the power of the Internet to establish an
online presence and conduct commerce with hundreds of millions of
consumers and other businesses.
Alibaba Group’s major businesses include:
-
Taobao Marketplace (www.taobao.com),
China's largest online shopping destination
-
Tmall.com (www.tmall.com),
China’s largest third-party platform for brands and retailers
-
Juhuasuan (www.juhuasuan.com),
China’s most popular online group buying marketplace
-
Alitrip (www.alitrip.com),
a leading online travel booking platform
-
AliExpress (www.aliexpress.com),
a global online marketplace for consumers to buy directly from China
-
Alibaba.com (www.alibaba.com),
China’s largest global online wholesale platform for small businesses
-
1688.com (www.1688.com),
a leading online wholesale marketplace in China
-
Aliyun (www.aliyun.com),
a provider of cloud computing services to businesses and entrepreneurs
View source version on businesswire.com: http://www.businesswire.com/news/home/20150707006625/en/
Contacts:
SingPost
Peter Heng, +65 9125 0023
peterheng@singpost.com
Lim
Li Koon, +65 9363 6523
limlikoon@singpost.com
or
Alibaba
Group
Rachel Chan, +852 94000979
rachelchan@hk.alibaba-inc.com
Teresa
Li, +852 9138 5120
teresali@hk.alibaba-inc.com
Source: Alibaba Group Holding Limited
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