The strategic partnership between the government of Thailand and Alibaba brings with it impacts not only on the e-commerce industry but also on the logistics industry as well. Most importantly, Alibaba’s smart digital logistics business, Cainiao Network, will establish a Smart Digital Hub in the Eastern Economic Corridor (EEC). The Smart Digital Hub will utilise Alibaba and Cainiao’s data and logistics technologies and processes to optimise the cross-border flow of goods between Thailand and China and also with other markets. Several local logistics industry players give the developments a welcome nod and believe it will bring both opportunities and simultaneous threats. It is an opportunity for businesses who prepare and adjust themselves to compete with the China-based giant, while being a threat to those who do not improve their business capacities. Samorn Terdthampiboon, president of Thailand Post, said that the arrival of Alibaba and Cainiao … [Read more...] about Who’s scared of Alibaba?
Cross border ecommerce report
MANILA, Philippines — The leaders of the Association of Southeast Asian Nations on Saturday concluded their summit in Singapore by releasing a communiqué that expresses support for exercise of self-restraint in the disputed South China Sea and “irreversible” denuclearization of the Korean Peninsula. Read the full chairman’s statement of the 32nd ASEAN Summit below: ********** 28 APRIL 2018 1. We, the Heads of State/Government of ASEAN Member States, gathered in Singapore for the 32nd ASEAN Summit on 28 April 2018. Our discussions emphasised building a resilient and innovative ASEAN, amidst rapid changes in Southeast Asia and beyond. 2. We reaffirmed the importance of maintaining ASEAN Centrality and unity in our Community-building efforts and engagement of external partners. We welcomed initiatives that reinforce an ASEAN-centric regional architecture that is open, transparent, inclusive and rules-based. These initiatives will build upon … [Read more...] about FULL TEXT: Chairman’s statement of the 32nd ASEAN Summit
Singapore Post, which provides domestic and international postal services, reported a 37.2 percent jump in third-quarter profit, driven by improved performance in the Postal, eCommerce and Property divisions. Net profit rose to S$43 million in the quarter ended December 31 from S$31.4 million a year earlier, the company said in a regulatory filing on Thursday. Profit also got a boost from S$6.9 million one-off adjustment of deferred tax due to the changes in the U.S. corporate tax rate, Singapore Post said. Excluding exceptional items, underlying net profit was up 11.9 percent to S$35.2 million. Revenue for the quarter increased 11.7 percent to S$412.8 million. Also Read: Singapore's Temasek weighing UOB's stake in Marco Polo "Good execution across the group saw us capture the benefits of a festive peak season in which eCommerce volumes made new records globally," Paul Coutts, Group Chief Executive Officer said in a statement. Singapore Post, commonly known as SingPost, said postal … [Read more...] about Singapore Post Q3 profit climbs on eCommerce growth, US tax changes