Singapore Post Limited announced that further to the announcement dated 9 March 2015 relating to a joint venture between SingPost eCommerce Pte Ltd. (SP eCommerce), a wholly-owned subsidiary of the Company with PT Trikomsel Oke Tbk (PT Trikomsel), PT Trio SPeCommerce Indonesia (PT TSI) has been incorporated in the Republic of Indonesia. PT TSI will provide import and supply of goods to e-commerce and online retailers as well as providing technical know-how and support services for the establishment, implementation and operation of ecommerce platforms. SP eCommerce will initially subscribe for 7,524 shares at IDR 132,030 each for a total of IDR 993,393,720 (equivalent to approximately SGD 99,948) representing 33% of the initial issued paid-up capital in PT TSI. The initial subscription was funded through the company's internal resources.

The above transaction is not expected to have any material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 March 2016.