SingPost Joins Singles Day Rally
Ahmad Maghfur Usman, Nomura Research
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The logistics sector is set to benefit from the rise of online sales in Asean, with an expected positive impact to its earnings. Nomura's top pick for the sector is SingPost which is repositioning its business model to capture this growth and to cope with declining postal revenues. Recognising this, Alibaba has recently increased its stake in SingPost from 10% to 14%.
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Tags: Singapore equities, singpost, alibaba, e-commerce, logistics sector