- SingPost announced that the group plans to acquire another 37% stake in FMH, increasing its stake to 88% and expanding its operations in Australia.
- To combat higher operating costs, SingPost has also increased postage rates across its DPP segment. China’s relaxation of its COVID-19 policies provides favourable tailwinds for its IPP segment that has faced depressed volumes.
- - Read this at SGinvestors.io -
SingPost to increase stake in FMH.
- Singapore Post (SingPost, SGXS08) announced that the group has entered into a sale and purchase agreement to acquire an additional 37% stake in Freight Management Holdings (FMH), taking its total stake to approximately 88% post-acquisition. This is in line with SingPost’s key strategy to expand its overseas logistics operations and accelerates the group’s plan for eventual full ownership of FMH.
- - Read this at SGinvestors.io -
- Given the robust operating profit growth that FMH possesses, the acquisition is expected to be earnings accretive and would help boost SingPost’s profitability from 1QFY24 onwards.
Higher postage fees for domestic post and parcel (DPP) segment
- Read more at SGinvestors.io.
