According to Singapore's "Lianhe Zaobao" reported on January 15, Singapore Post through the subsidiary Famous Holdings acquisition of New Zealand freight forwarders Famous Pacific Shipping 90% of the shares and part of the debt, the formal entry into the New Zealand freight market.

        The purchase price to be adjusted after the operation of capital to determine. As a result of Famous Pacific Shipping, the potential net profit after tax may be as high as 4.4 million New Zealand dollars. This increases the purchase price to 8 million New Zealand dollars.

        "Under the strategy to enhance transportation, the Group is striving to increase its capabilities to provide more comprehensive freight services, which allow the Group to expand its business to New Zealand's cargo market," said Bayer, president of Singapore Post Group.

        Bayer said the acquisition allows the company to provide customers with more complete electronic transport services, but also further complement the company's postal parcel business network.

        Singapore Post has been actively promoting regional transport capacity over the past year and a half, including investing in e-commerce logistics hubs in China and planning to be operational by mid-2016.

       Source: Ministry of Commerce website