E-commerce platform, logistics tech focus of MOU between Y Ventures, SingPost
E-COMMERCE retailer and distributor Y Ventures announced it has signed a non-binding memorandum of understanding (MOU) with SingPost for potential collaboration in two areas.
Under the MOU, the two firms are exploring the development of an e-commerce buying platform which is focused on cross-border purchases on behalf of consumers and consolidated deliveries, as well as logistics-related technology to "enhance efficiency across the vertical logistics chain".
Y Ventures cautioned the MOU is not legally binding and is conditional upon the group entering into definitive agreements with SingPost, of which they are in the process of negotiating.
The company will make further announcements on the MOU should there be material updates.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Global wave of consultancy layoffs has not hit Singapore
P&G raises annual core profit forecast on resilient demand, price hikes
American Express’ premium customers help it surpass profit expectations