Singapore Post

[rainmaker]

Kiwis blur meh?

NZ Post sells Australian courier business
AAP DECEMBER 03, 2014 1:30PM

New Zealand Post has sold its Australian Couriers Please business to Singapore Post for $A95 million.

The unconditional deal between the state-owned enterprise and the Australian subsidiary of Singapore Post was signed on Wednesday, and is expected to be completed on December 15, NZ Post said in a statement.

NZ Post kept the unit's assets and liabilities confidential in its 2014 annual report as a result of the decision to sell it, and had previously valued the courier firm's goodwill at $NZ38.2 million ($A35.56m) and its brands at $NZ21.6m as at June 30, 2013.

"The Couriers Please business has performed extremely well and been a highly successful investment for New Zealand Post, increasing in value on the strength of a clear strategy and its trading performance since we bought it outright in 2012," chief executive Brian Roche said.

"New Zealand Post will use the proceeds to invest in our business transformation in New Zealand as part of our five-year strategy."

Couriers Please operates metropolitan delivery, with about 570 couriers and more than 130 staff.

The transaction has been approved by the Australian Foreign Investment Review Board.

NZ Post has been streamlining its business in recent years as it contends with shrinking mail volumes in an increasingly digital world, laying off staff and reducing its physical store footprint.

At the same time, the group has targeted earnings growth from its Kiwibank unit, which it expects will start delivering returns after a decade of aggressive pricing to build market share.

The company logistic network has extended to Australia...

Singapore Post to pay $105 million for Australian delivery firm

SINGAPORE (Dec 3): Singapore Post ( Financial Dashboard) is expanding its reach Down Under with a A$95-million ($105-million) acquisition of Couriers Please Holdings, an Australia-based parcel delivery company.

The acquisition will be carried out by Sydney-based Quantium Solutions (Australia), SingPost's wholly owned unit, which operates in 12 countries in Asia-Pacific and has access to more than 220 countries worldwide, the postal company said in a statement this morning.

Couriers Please, now owned by New Zealand Post Group, is one of a few operators in Australia with national coverage, with a network of 575 franchisees.

SingPost will fund the purchase using cash.
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http://www.theedgemarkets.com/sg/article...ivery-firm

Do anyone have any financial info about this company Couriers Please. Is it profitable or in debt? What is SingPost valuation of it and will it drain its cash and ability to sustain the dividend. This is primarily a logistic company and nothing mentioned about it as an e-com logistics. SingPost is trying to grow their reach fast into the region and this should be the main reason. How it integrate with their e-com logistics remain to be seen. Not vested.