SingPost buys Australian delivery company CouriersPlease for $104.5m

SingPost buys Australian delivery company CouriersPlease for $104.5m

SINGAPORE - Singapore Post is buying an Australia-based parcel delivery company for A$95 million (S$104.5m) to complement its e-commerce delivery services Down Under, said a statement released today by SingPost Group.

Quantium Solutions (Australia), the wholly-owned subsidiary of Singapore Post, has acquired 100 per cent of Couriers Please Holdings, one of the few postal operators with national coverage in Australia.

Mr Kok Peet Leong, Regional Director (Pacific) of Quantium Solutions International said: "Australia is an advanced market for e-commerce and we see good growth potential as regional emerging markets open up and further engage in e-commerce. With our end-to-end solutions, Quantium Solutions aim to enable large overseas brands as well as small and medium-sized enterprises (SMEs) in Australia to participate in e-commerce in Asia Pacific. In addition to deploying CourierPlease's last-mile expertise, we will continue to work with postal peers and other strategic partners to tap the growing e-commerce market in Australia and beyond."

Dr Wolfgang Baier, Group Chief Executive Officer of SingPost Group, said: "SingPost will add significant value to CouriersPlease through our access to marquee ecommerce customers, expertise in technology and automation, as well as innovations in our approach to last mile delivery and products. I look forward to harnessing our combined capabilities in operations and technology to develop innovative solutions not only for our customers in Australia but also in other markets. I expect to derive good synergies between the Group and CouriersPlease including implementing best practices from each party."

According to the Australian Bureau of Statistics, Australian consumers spent approximately A$10 billion in total on overseas and domestic purchases online in 2012. E-commerce sales in the country is expected to grow to A$36.8 billion in 2016.

minlee@sph.com.sg

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