Alibaba announced through its official Weibo that it will invest SGD 313 million (about USD 249 million) in Singapore Post (SingPost) for 10.35% share in SingPost.
Both parties have agreed to jointly develop “an international e-commerce supplier logistics platform”.
Alibaba launched a Southeast Asia regional page for its online shopping platform Taobao last year and package forwarding service for Singapore and Malaysia. The investment in SingPost could indicate Alibaba’s potential push for cross border trading between China and Southeast Asia.