SingPost to boost e-commerce business with US and Europe services
It expects online transactions to jump in coming years and plans to expand freight services and warehouses in the West
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Singapore
SINGAPORE Post (SingPost), which counts Alibaba Group Holding as its second-biggest shareholder, plans to expand freight services and warehouses in the US and Europe as Asia's emerging middle class drives online purchases from overseas.
SingPost expects online transactions to jump in coming years, as the typical household in South-east Asia currently receives just two to three parcels a year on average, compared with about 30 in developed markets, chief executive officer Wolfgang Baier said in an interview on Oct 8.
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