SingPost forms strategic partnership with independent express network SkyNet | Lianhe Zaobao

SingPost will establish an exclusive strategic partnership with SkyNet Worldwide Express, the world's largest independent express network. Starting from January 1, 2026, SingPost will become the exclusive representative of SkyNet in Singapore, providing international express and e-commerce logistics services to the latter's global customers. SingPost Group Chief Operating Officer Liang Shuyun said in a statement on Thursday (January 22): "This collaboration will significantly enhance our express and e-commerce service levels. By combining SingPost's comprehensive delivery network with SkyNet's global coverage, we can bring greater value and convenience to customers in the Asia-Pacific region." In contrast to centralized express networks like FedEx and UPS, SkyNet is composed of partners from various locations and quickly adjusts service strategies based on different markets. According to the agreement between the two parties, SkyNet will use SingPost's air mail transit center in Singapore as its customs bonded area transit hub, enhancing the speed and connectivity of regional and global cargo flow. SkyNet customers will also reach over 180 destinations worldwide through an integrated technology platform and can utilize services such as Delivered Duty Paid to simplify international delivery processes. Further Reading Due to lack of contributions from Australia, SingPost's net profit fell 12.8% in the first half SingPost's net profit fell 12.8% in the first half, stock price dropped nearly 4% this morning In addition, to optimize consumer experience, the collaboration plan also includes return inspections and dedicated facilities for e-commerce fulfillment, assisting brands in more efficiently handling returns and order fulfillment Chaminda Gunasekera, Managing Director of SkyNet Asia, said: "By partnering exclusively with SingPost, we will connect our global network with a locally entrenched professional team to create faster and higher-quality service opportunities for e-commerce and express customers in the Asia-Pacific region." Due to the lack of contributions from its Australian business and a decrease in cross-border business revenue, SingPost's profits have been continuously declining. In the half-year report ending September last year, the company's net profit fell by 12.8% year-on-year to SGD 19.7 million, while revenue decreased by 27.4% year-on-year to SGD 188.4 million. As of 3 PM, SingPost's stock price was SGD 0.39, down 1.27%. Its stock price has dropped over 30% in the past year, making it one of the worst-performing mid-cap stocks locally