$SingPost(S08.SI)$
Also the expansion of its services especially the expanded touchpoint network is to eat into the local courier market. Noted that Ninja Van had given up on small scale individual parcel service. This is where Singpost can compete best and muscle in with secured postal lockers in 2500 touchpoints islandwide, accessible within 10 mins walk.
This expansion is essentially SingPost locking in its consumer moat - ensuring that even as volume shrink, its network density and accessibility remains unmatched.
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