Singapore Post

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