The Board of Directors of Singapore Post Limited announced in relation to the agreement relating to the joint venture between SingPost eCommerce Pte. Ltd., a wholly-owned subsidiary of the company, and PT Trikomsel Oke Tbk. dated 6 March 2015.

The company announced that, by mutual agreement with PT Trikomsel, the parties have agreed to terminate the agreement with effect from 31 March 2016. Following the termination of the proposed joint venture, PT TSI, which has been a dormant company since its incorporation, will be dissolved. The termination of the proposed joint venture is not expected to have any material impact on the net tangible assets or earnings per share of the company for the financial year ended 31 March 2016.