SingPost invests $4.6million in Australian e-commerce firm Hubbed

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.
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.BERITA HARIAN FILE

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.