SingPost:(S$1.565) Collaboration between Lazada and China Post, without SingPost..
- Lazada and China's state-owned postal provider China Post have entered into a collaboration to enhance cross-border logistics solutions.
- To the surprise of some, the collaboration does not involve SingPost, which was touted to be a beneficiary to Lazada's fast-growing presence in Asean as an eCommerce marketplace.
- Anticipating a potential impairment of up to $493.5m due to questionable acquisition goodwill, which amounts to more than 30% of SingPost's total equity.
- Maybank KE has a contrarian Sell call on the counter with a street low TP of $1.29.