SingPost acquires 20% stake in Shenzhen 4PX Express
The RMB 60 million or approximately S$12 million acquisition was made through its wholly-owned subsidiary, Quantium Solutions International.
According to a release, 4PX, incorporated in Shenzhen, the People’s Republic of China, is a company that provides international express delivery services, international freight forwarding, import and export of goods and import and export of technology. The company is also the global distribution partner for eBay and PayPal in the China market.
Said Mr Li Yue, Managing Director of 4PX: “We are excited with this investment by SingPost with whom we have fostered a good business relationship since 2009 as their customer.”
Mr Ng Hin Lee, SingPost’s Chief Executive Officer (Postal and Corporate Services) who is also overseeing the Group’s strategic acquisition portfolio said: “We are pursuing growth in regional logistics and e-commerce, both of which offer tremendous potential in the new globally connected marketplace. This investment with 4PX is a strategic one for SingPost as it gives us a platform for entry into the outbound logistics and the high-growth e-commerce market in China and globally, especially into USA, UK and Australia where 4PX has set up operations.”
SingPost’s regional business currently spans 10 countries in Asia Pacific through whollyowned Quantium Solutions, a mail-logistics solutions provider and DataPost Pte Ltd, a hybrid mail business.