SingPost expands in Malaysia

Singapore, 15 March 2011 –
Singapore Post Limited (“SingPost”) today announced that it has acquired 56,838,000 ordinary shares in GD Express Carrier Berhad (“GDEX”), a company listed on the ACE Market of Bursa Malaysia Securities Berhad, through block trades for a total consideration of RM 45,470,400. With this acquisition, GDEX will become an associated company of SingPost, with SingPost’s shareholding in GDEX increasing from 4.98% to 27.08%. [more]