Singapore Post has unveiled plans to invest some S$50-70 million (roughly €30-45 million) in itsinfrastructure, technology and people to continue its business diversification strategy.
SingPost, which last month won a prestigious postal industry award, has invested some S$10million in the last two years in sorting machines to handle rising volumes due to e-commerce, aswell as in its delivery fleet and optimisation of its processes.
The postal company said that in the years to come it will step up this spending with a furtherS$50-70 million in infrastructure, processes, technology and staff.
Under its “Ready for the Future” programme, SingPost has launched a clear diversificationstrategy over the last couple of years, including expanding e-commerce, digital and logisticsservices and taking stakes in Malaysia’s GD Express, Vietnam’s Indo Trans Logistics and Shenzhen4PX Express in China.
Last month SingPost was selected as ‘Service Provider of the Year’ in the annual PostalTechnology International awards that were presented at Post-Expo in Brussels. The award recognisedSingPost’s service-oriented innovations and made it the first Asian postal organisation to receivethis accolade.
Dr Wolfgang Baier, SingPost’s Group Chief Executive Officer, said: “To be successful in thefuture, we must, and we have, stepped up our focus on customers. To reinvent our products andservices to customers, across all business lines, we have been investing heavily intoinfrastructure, processes, technology and people. All these help to enhance our service excellence.To relentlessly reach out to customers, who are increasingly using Internet for their personal orbusiness needs, we launched a number of digital and e-commerce services.”
