In his report on Jan 11, Ong says the acquisition is “positive” as it ties in with SingPost’s strategy of transforming into a global logistics enterprise, especially in Australia. SingPost has established a strong presence in the country after years of investments, the analyst notes.
CGS-CIMB Research analyst Ong Khang Chuen is keeping his “hold” call on Singapore Post (SingPost) after the group announced that it will be acquiring more shares in its 51%-owned subsidiary Freight Management Holdings (FMH).
Ong has also kept his target price unchanged at 55 cents.
