SINGAPORE (Mar 2): Y Ventures Group has entered into a non-binding memorandum of understanding (MOU) with Singapore Post.

This is to explore a potential collaboration for the development of an e-commerce buying platform which will focus on cross-border purchases on behalf of consumers and consolidated deliveries and logistics-related technology to enhance efficiency across the vertical logistics chain.

On Wednesday, Y Ventures reported a loss of US$0.9 million ($1.2 million) in FY17 compared to a profit of $1.5 million in the previous financial year due to higher administrative expenses.

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