SINGAPORE (Mar 9): Once associated with stable dividend payments, Singapore Post began to acquire a reputation as a growth play after its previous CEO Wolfgang Baier started to transform the mail delivery company into a logistics and e-commerce play.

In 2009, SingPost acquired logistics firm Quantium Solutions International to boost its warehousing and delivery capabilities. In 2013, it formed SP eCommerce to run online stores for retailers.

And between 2011 and 2016, SingPost acquired at least 19 logistics-, storage- and e-commerce-related businesses. By 2016, about half of its revenue was e-commerce-related — ranging from retail to delivery.

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