SINGAPORE: Singapore Post Limited (SingPost) has announced that following a strategic review of its U.S. eCommerce businesses, it will commence a sale process of Jagged Peak and Trade Global, bourse filing said.
SingPost believes its strengths and strategic competitive advantages are in Southeast Asia and Asia Pacific, which provides attractive growth opportunities.
Paul Coutts, Group Chief Executive Officer of SingPost, said: “Arising from the strategic review, we will step up our investment to better serve our home market in Singapore, as well as leverage our competitive advantages in Asia-Pacific.” SingPost’s non-U.S. business units will not be affected by the divestment.
For more than 160 years, Singapore Post (SingPost) as the country’s postal service provider, has been delivering trusted and reliable services to homes and businesses in Singapore. SingPost is pioneering and leading in eCommerce logistics as well as providing innovative mail and logistics solutions in Singapore and around the world, with operations in 19 markets.
The suite of SingPost eCommerce logistics solutions includes front end web management, warehousing and fulfillment, last mile delivery and international freight forwarding.
Trade Global, a subsidiary of Singapore Post Limited, is a leading end-to-end eCommerce provider, delivering best-in-class solutions to the world’s most recognizable fashion, beauty and lifestyle brands.
Jagged Peak, a subsidiary of Singapore Post Limited, is a global, end-to-end eCommerce solutions provider with software and services that enhance the scalability and profitability of omnichannel businesses.[the_ad id=”31605″]