Singapore Post (SingPost ) announced this morning that its wholly owned subsidiary, Quantium Solutions (Australia) Pty Ltd, will acquire the entire interest of Couriers Please Holdings Pty Ltd from New Zealand Post. The total consideration for this acquisition is A$95m (~S$105m).

Couriers Please is one of Australia’s leading metropolitan small parcel delivery businesses, and is in line with SingPost’s objective of building regional ecommerce delivery networks as a key component to its logistics growth. This will help in SingPost’s aim to roll out end-to-end solutions across ecommerce, forwarding, warehousing and delivery in Australia.

Maintain BUY with S$2.17 fair value on SingPost.

Source: OCBC Research - 3 Dec 2014