Singapore Post is to buy a 30 per cent stake in Indo Trans Logistics Corporation (ITL) for US$10.8 million via its wholly-owned subsidiary Singapore Post Enterprise.
The acquisition is tipped to help the Singapore firm gain business in Vietnam and Indo-China.
ITL is a Vietnamese firm that offers integrated logistics solutions. It has air and sea freight forwarding, third-party logistics solutions and distribution, and a general sales agency for airlines.
SingPost already has set up a mail logistics firm - Quantium Solutions - and DataPost, a mail business.
Other investments include stakes in an Malaysian express carrier and a US technology company.
The acquisition is tipped to help the Singapore firm gain business in Vietnam and Indo-China.
ITL is a Vietnamese firm that offers integrated logistics solutions. It has air and sea freight forwarding, third-party logistics solutions and distribution, and a general sales agency for airlines.
SingPost already has set up a mail logistics firm - Quantium Solutions - and DataPost, a mail business.
