According to McKinsey’s projections, the Southeast Asian market is expected to triple between 2023 and 2026, with a compound growth rate of 22% and an approximate US$230 billion ($310.76) in gross merchandise volume.
On June 30, SATS (SGX:S58
) and Singapore Post (SGX:S08) (SingPost) signed a Memorandum of Understanding (MOU) to explore a jointly operated transhipment hub facility with the aim of shortening delivery times and reducing operating costs and manpower.
In a joint media statement, SATS and SingPost say they are poised to collaborate closely and leverage their “combined expertise” to address the evolving needs of regional e-commerce players.
