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Here’s what you should know today.

1. SingPost’s top ecommerce executive resigns 

Marcelo Wesseler has resigned as CEO of SP Commerce.

SP Commerce is the integrated entity of SingPost’s former ecommerce division, SingPost ecommerce, with US-based ecommerce provider TradeGlobal Holdings and the company’s US unit, Jagged Peak Inc.

Paul Demirdjian, currently the president and CEO of Jagged Peak, has been appointed interim CEO, US businesses with immediate effect.

No word or clarification has been provided at this point to why Mr. Wesseler had to resign from his position. However, SingPost has been through numerous re-shuffles of executives, following the high profile resignations of the company’s CEO, COO and CFO, including various board members, all last year.

Read the rest of the story here.

 

2. GreyOrange and Ninja Van partner on advanced sortation system for last-mile delivery

GreyOrange and Ninja Van have announced the commission of their first high-speed advanced Sortation System capable of handling 6000 parcels an hour at the Singapore hub of Ninja Van.

GreyOrange’s technology sorts the parcels according to dispatch time, destination and other parameters as determined at different times of the day, including service levels such as same-day and next-day delivery.

Read the rest of the story here.

 

3. App to know: LIKEtoKNOW.it’s app helps you buy the products in your screenshots

To use the new app all you have to do is take a screenshot of a photo you want to shop.

This can be a screenshot of an Influencer’s Instagram, a photo from fashion week, or even a photo your friend sends you.

 

Source: Techcrunch

Immediately after taking a screenshot the app will analyze it and send you a push notification if it can match the image with one of millions of influencer-submitted and tagged photos in its database.

Read the rest of the story here.

 

4. Recommended Reading: Amazon vs. Alibaba. Who’s ahead with O2O

Business intelligence firm L2 says,

It’s clear that both companies are betting on a future with a combination of offline retail and online e-tail, but Alibaba’s partnerships have positioned it to expand its already wide reach much further in the brick-and-mortar world.

As Amazon begins to experiment with QR code-scanning mobile payments at its Amazon Go location, mobile payments via Alipay are now commonplace at stores across China and quickly spreading globally to cater to Chinese tourists.

While Amazon’s new projects improve and accelerate the offline transaction experience, L2 predicts that the U.S. company is still three years away from jumping all in on omnichannel as Alibaba races ahead.

Read the rest of the story here.

SingPost ecommerce delivered positive sales growth in the last quarter by 30.9% to $248 million (S333.4 million), but saw a decrease in net profit by 23%.

The increase reflects expansion in cross border ecommerce activities, as well as the integration of new US subsidiaries TradeGlobal and Jagged Peak. Both of these companies run ecommerce fulfillment and logistics operations, acquired in November 2015 and March 2016, respectively. The company recently won Japanese fashion brand UNIQLO’s ecommerce business in Thailand.

Ecommerce related revenues more than doubled from $54.3 million to $122 million. They now make up 49.3 % of Group revenue, up from 28.7% last year. 

Ecommerce related revenues now make up 49.3% of the total Group revenue, up from 28.7% last year. 

Logistics revenue rose 11.9% to $116.7 million, with steady organic growth at Quantium Solutions and CouriersPlease, as well as the inclusion of a new subsidiary under Famous Holdings. Increased cross border ecommerce related activities led postal revenues to a 1.5% rise, indicating an increased demand of cross border services. 

Increased cross border ecommerce related activities led postal revenues to a 1.5% rise, indicating an increased demand of cross border services. 

Total expenses increased 33.6%, driven largely by growth in international mail traffic and ecommerce logistics volumes that reflect the change in the Group’s business mix.

Net profit attributable to equity holders declined 23.0% to S$35.9 million, due largely to one-off gains from the divestments of Novation Solutions and DataPost HK in the corresponding period last year.

From the SingPost Press Release:

Underlying net profit, which excludes one-off items, was down 11.2%, due to investments in business transformation. Rental income declined as the Singapore Post Centre (“SPC”) retail mall is being redeveloped, while depreciation charges were incurred for the Regional ecommerce Logistics Hub, which obtained a Temporary Occupation Permit in April 2016.

SingPost also continued to invest in ecommerce IT and operational capabilities. Mr Mervyn Lim, Covering Group Chief Executive Officer, said, “We are investing in our business transformation and that will take time to contribute materially to earnings. We are focused on executing our strategy to create value from our acquisitions and build an integrated global ecommerce logistics ecosystem. SingPost’s strategy to protect the postal core and grow its ecommerce logistics network remains on track.”

The good news will be welcomed by SingPost, following the company’s spell of negative headlines regarding internal investigation over board members, and the stepping down of Director Keith Tay in May.

Access the press release here

By Anutra Chatikavanij & Felicia Moursalien