SINGAPORE POST LIMITED 
By For Immediate Release
SingPost Strengthens its Logistics Business with Acquisition of Freight-Forwarding Company Singapore, 18 January 2013 - SingPost, the leading solutions provider of e-commerce logistics and trusted communications, has announced that it is acquiring a 62.5% stake in Famous Holdings Pte Ltd (FH) for S$60.0 million.Both companies have also agreed on an option to transact the remaining 37.5% stake at the end of 2015, at a price to be determined based on an agreed formula.
Founded in 1988, FH is an established Singapore-based sea freight consolidator and freight-forwarder. It has a regional network with offices in 6 countries namely Singapore, Japan, Australia, China, Malaysia and the USA.
Said Dr Wolfgang Baier, Group Chief Executive Officer of SingPost: "As part of our strategy to grow the logistics business, we are strengthening our capabilities to provide fully integrated logistics solutions to our customers, both in Singapore and in the region. Many of these customers are in the area of e-commerce. FH's freight-forwarding capabilities complement our e-commerce logistics capabilities in regional fulfilment & warehousing, as well as our postal & parcel delivery networks."
Added Dr Baier: "Over the past 18 months, we have been strengthening our regional logistics capabilities with new or expanded facilities including additional warehouses and a second regional airfreight hub in Singapore, as well as strategic partnerships with postal peers and industry operators. This investment in an experienced freight-forwarding company with a strong regional network further complements our efforts to grow our regional logistics and e-commerce business where customer demand for integrated solutions is strong."
Logistics has been identified as a growth engine and is one of the five key business areas in SingPost's transformation plan.
- End -
Page 1 of 2
(Reg. No. 199201623M)
Singapore Post Limited (SingPost) is the national postal service provider in Singapore offering trusted communications through domestic and international postal services as well as end-to-end integrated mail solutions covering secure data printing, letter-shopping, delivery and mailroom management, among others. As the trusted communications service provider for more than 150 years, SingPost today goes beyond physical postal communications to offer secure digital communications solutions as part of integrated solutions to its customers.
With its competencies in mail, logistics and e-commerce, SingPost is able to offer integrated e- commerce logistics solutions tailored to customers' needs. Having one of the largest multi- channel distribution networks in Singapore, regional operations in 12 countries and access to a global postal network of more than 220 countries/territories, SingPost is also well-positioned to provide end-to-end e-commerce logistics solutions such as warehousing, pick and pack, delivery and returns management for B2B, B2C and B2B4C customers in Singapore and the region.
SingPost recently gained international acclaim when it was bestowed the Service Provider of the Year 2012 award by Postal Technology International. SingPost remains as the only postal company in the world to have won the Express Mail Service (EMS) Cooperative Certification Gold Level Award by the Universal Postal Union for its Speedpost Worldwide Courier Service for 11 consecutive years since 2001.
SingPost was listed on the Main Board of the Singapore Exchange in 2003. To learn more about
SingPost, please visit www.singpost.com.
(Reg. No. 198802960G)
Famous Holdings Pte Ltd (FH) is a Singapore based holding company with its core subsidiaries engaged in NVOCC (Non Vessel Operating Common Carrier) operations, total logistics and supply chain management services. FH started in 1988 as a single operation in Singapore providing freight forwarding services to local companies but has since expanded its business to 6 countries across the Asia Pacific region. Today, the FH's group of companies is present in Singapore, Japan, Australia, China, Malaysia and the USA and is an established regional consolidator and freight forwarder.
FH is also a member of the Famous Pacific Shipping Group, a worldwide network of strategic alliances with consolidators covering South East Asia, Europe, North and South America, Middle East, Australia and Oceania/Africa. By leveraging this membership, FH is able to help customers ship to almost any major destination in over 100 countries worldwide.
In its pursuit of quality and service excellence, FH is also constantly striving to provide a seamless supply of distribution services to connect end-users, customs brokers and suppliers. As a reflection of this dedication, FH achieved the ISO 9001:2000 standard in 2001 and constantly applies these principles in all its dealings with customers, brokers and suppliers.
To learn more about FH, please visit www.famous.com.sg.
Page 2 of 2
|
distributed by
|
