SATS to join STI
Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Russell announced on 3 September 2015 that UOL Group, Yangzijiang Shipbuilding Holdings and SATS will replace Jardine Matheson Holdings, Jardine Strategic Holdings and Olam International as constituents of the Straits Times Index (STI) following the conclusion of the semi-annual review.
The STI is widely followed by investors as the benchmark for the Singapore market and is used as the basis for a range of financial products including Exchange Traded Funds (ETFs), futures, warrants and other derivatives.
SATS Ltd provides gateway services and food solutions in Singapore, Japan, and internationally. The company’s gateway services comprise airfreight, baggage, ramp handling, passenger, aviation security, cargo, warehousing, perishables and cruise handling, and terminal management services, as well as ground handling and in-flight catering services.
Its food solutions include airline catering, food distribution and logistics, and industrial catering services, as well as chilled and frozen food manufacturing, and linen and laundry services.
The company also provides apron, flight operation and load control, aviation security, aircraft interior and exterior cleaning, and cruise center operation and management services. It serves airline, hospitality, healthcare, food, and airfreight and logistics industries, as well as the government.
On 17 August 2015, SATS Ltd. and Singapore Post Limited (SingPost) announced that they have signed a commercial agreement for SATS to provide airmail consignment handling services to SingPost. The new automated facility, to be called SATS eCommerce AirHub, will improve efficiency and space utilisation, as well as enhance the consignment handling capabilities for both SATS and SingPost.
To be located at SATS Airfreight Terminal 1 within the Changi Airfreight Centre, this 6,000-square-metre facility is expected to be operational by December 2016. Under the terms of the agreement, SingPost will outsource its airport consignment operations located at Changi Airmail Transit Centre 2 (ATC2) to SATS when its lease at ATC2 expires in end-2016.
This collaboration will result in the integration of both SATS’ and SingPost’s airmail consignment operations under one roof. The integration will enable single scanning and sorting, and remove the need to tow consignments such as mail and parcel bags as well as pallets between facilities. This will enhance operational efficiency, including shorter cycle and connection times, and increase productivity.
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