Singapore Posts buys more Efficient E-Solutions shares

KUALA LUMPUR: Singapore Post Enterprise Private Ltd has raised its shareholding in EFFICIENT E-SOLUTIONS BHD [] with the recent acquisition of five million shares on Sept 2.

A filing with Bursa Malaysia showed its shareholding in the business process outsourcing (BPO) company increased to 20.82 million shares or 147.529 million shares following the recent acquisition. The share price closed at 17.5 sen on Sept 2.

Singapore Post emerged as a major shareholder following the acquisition of 21.241 million shares from May 25 to June 10. It also acquired 50 million shares via a private placement on June 13.

Efficient E-Solutions provides integrated outsourcing solutions in data and document processing to banks, stock-broking companies, insurance companies and telecommunications operators.

The data and document processing covers services ranging from data extraction, conversion, formatting of documents to data printing and the preparation of printed documents for distribution via post.