05 Jul '11, 11am

(CNA|sg|biz) SingPost acquires 20% stake in China-based company

SINGAPORE: Singapore Post has acquired a 20 per cent stake in 4PX through its subsidiary, Quantium Solutions for about S$12 million. 4PX is the global distribution partner for eBay and PayPal in the China market. The Shenzhen-based company provides international delivery and freight forwarding services. It has been a customer of Singapore Post since 2009. Li Yue, managing director of 4PX, said that the company is excited with this investment as both sides have fostered a good business relationship. Dr Wolfgang Baier, SingPost's international CEO, said the investment in 4PX will further boost the company's capability in e-commerce and regional logistics. 4PX will continue to focus on the cross-border e-commerce market, secured express delivery and logistics services. SingPost's CEO for postal and corporate services, Mr Ng Hin Lee said 4PX will enable SingPost with a platfor...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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