SingPost: Has acquired a 30% stake in Indo Trans Logistics for US$10.8m. The integrated logistics service provider provides air and sea freight forwarding, third-party logistics solutions and distribution…..
Investment will provide them with 'a foothold into Vietnam and the Indo-China region which are emerging markets with significant logistics and related opportunities. Co. is pursuing growth beyond its mail business and wants to expand into the region. We note that mkt generally neutral on stock with majority having Hold Calls with $1.18 TP and an estimated FY11 Div yield of 5.4%.
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