SingPost buys Australian parcel delivery firm for S$105m

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http://www.channelnewsasia.com/news/singapore/singpost-buys-australian/1507644.html

National mail carrier Singapore Post said on Wednesday (Dec 3) it will acquire an Australia-based parcel delivery company for A$95 million (S$104.66 million), furthering its expansion into the e-commerce logistics business.

Quantium Solutions (Australia), which is wholly owned by SingPost, will buy CouriersPlease Holdings from New Zealand Post Group.

SingPost described CouriersPlease as one of Australia's leading metropolitan small parcel delivery businesses with an extensive nationwide network of 575 franchisees.

CouriersPlease's depots are located primarily in eastern and southern Australia, which comprise the majority of the delivery market in the country.

On Nov 5, the Infocomm Development Authority (IDA) approved the recent increase in local and international postage rates because Singapore Post (SingPost) has been facing increasing labour and operation costs in the past few years, said Minister of State for Communications and Information Sim Ann.