SINGAPORE: Singapore Post Limited has invested approximately S$4.6 million for a 30 per cent stake in Australian e-commerce company Hubbed Holdings Pty Ltd, via its indirectly wholly-owned subsidiary Quantium Solutions (Australia) Pty Ltd.
If a predetermined set of performance benchmarks is attained, SingPost will pay an additional A$1 million (S$1.04 million) to Hubbed. If not, SingPost will gain another 5 per cent stake.
Hubbed, as of 30 April 2015, had a net asset value of S$1 million.
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