MBKE highlights SingPost
as one of the best placed logistics companies in ASEAN that is poised
to benefit from the rapid growth in e-commerce. The recent continued
growth in international mail volume through its partnership with Alibaba
is evidence of the rapid growth in ecommerce. Although SingPost has had
its fair share of results disappointment lately, MBKE believes this is
mainly due to the implementation of revised terminal dues. Its ability
to ride on the growing ecommerce trend continues to be strong.
BUY, TP $1.50; Current share price $1.13
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