SingPost: Alibaba ups investment in SingPost by investing S$92m in Quantium Solutions International (QSI) for a 34% stake. QSI is currently a wholly owned subsidiary of SingPost providing leading end-to-end e-commerce logistics and fulfillment services across the Asia Pacific region, but it will later become a JV between both parties.
In addition, Alibaba will purchase another 5% stake of SingPost for S$187.1m such that its deemed interest on a fully diluted basis in SingPost will rise from 10.23% to 14.51%.
Finally, both parties have also entered into a joint strategic business development framework to further improve efficiency and integration of e-commerce logistics solutions.
OCCB maintains its BUY rating with TP: $2.19.
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