Uncharted territory: SingPost eyes Indonesian expansion with Alibaba cash

The Postman unveils its aggressive plans.

Boosted by Alibaba’s cash, SingPost is now reaching into the untapped Indonesian market. The Postman recently revealed that it is eyeing mergers and acquisitions in the archipelago.

Its subsidiary and key logistics arm, Quantium Solutions, set up a JV in Indonesia this year
after the government relaxed laws which previously restricted foreign firms from owning a stake in logistics companies.

According to CIMB, “SingPost has identified Indonesia as a key market in Southeast Asia where it is lacking sufficient presence. SingPost sees more room for growth through M&A in Indonesia as the current JV only serves the island of Java and there is also a need to establish delivery networks in other parts of the country.”

Here’s more from CIMB:
While details of the JV with Alibaba are yet to be set in stone, SingPost believes that its partnership with Alibaba has the potential to increase shipment volumes by 3-4x.

SingPost will over time build significant scale across the region, funded by Alibaba’s S$312m investment and its net cash of S$170m.

SingPost offers an attractive dividend yield of 4% while also providing potential earnings upside from the collaboration with Alibaba and M&A activity as it expands its regional e-commerce logistics operations.

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