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[SGX] Stock investment Singapore

SINGAPORE Maybank Kim Eng Research is maintaining its "hold" call on Singapore Post (SingPost) at an unchanged target price of $1.34 given major decisions within the group are likely to be put on hold until new CEO, Paul Coutts officially joins in June.

Maybank recently held its Invest ASEAN Singapore Conference, where SingPost was hosted and discussed its future plans as well as current relationship and potential collaborations with its China's Alibaba Group.

In a Sunday report, Maybank analyst John Cheong recalls how SingPost says it intends to offer a more "extensive hybrid solution" to its clients that will enable selection between postal or commercial services across different markets.

Management are also mindful of rising competition from postal players in neighbouring countries and a tendency by customers to rely on services of lower costs countries. A good example is the recent plan of Alibaba to set up its regional e-commerce hub in Malaysia, says Cheong.

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