SingPost sheds stakes in traditional business

Singapore

SINGPOST has sold stakes in the more traditional forms of the postal service business as it drives more focus into its e-commerce segment.

It said on Friday that it has sold a 90 per cent stake in DataPost Pte Ltd to Jing King Tech Solutions Pte Ltd for about S$39.3 million.

This follows another divestment last month of its whole stake in Novation Solutions Limited and DataPost (HK) Pte Limited fo…