One-time gains lift SingPost Q4 earnings
Net profit jumps 196% as revenue rises 27%; longstop dates for both Alibaba deals extended again
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Singapore
SINGAPORE Post has extended the longstop dates for both its deals with Chinese e-commerce giant Alibaba yet again, though this time it shed more light on some sources of the delay.
The new deadline to ink both Alibaba's stake increase in SingPost and the two parties' proposed joint venture is Oct 31, deputy chief executive officer Mervyn Lim told a results briefing on Tuesday that ended up starting an hour later than scheduled.
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