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GDex signs deal with Pos Indonesia to boost cross-border trade
by Cals Wed 02 Mar 2016, 23:59
GDex signs deal with Pos Indonesia to boost cross-border trade
By Sangeetha Amarthalingam / theedgemarkets.com | March 2, 2016 : 9:52 PM MYTKUALA LUMPUR (March 2): GD Express Carrier Bhd (GDex) and PT Pos Indonesia signed a business collaboration today to enhance cross-border trade between both entities and explore other synergies.
In a filing with Bursa Malaysia, GDex said while it had an established comprehensive network in Malaysia, the state-owned Indonesian postal service provider possessed an extensive network in that country.
"Such collaboration will create more value for the communities by providing better connectivity between both countries," said GDex, which is 27%-owned by Singapore Post Ltd (SingPost).
The agreement was signed by GDex managing director Teong Teck Lean and Pos Indonesia president director Gilarsi W. Setijono in Bandung, Indonesia.
Pos Indonesia was established in 1995. It was first known as Post Office Batavia, established in 1746 in Batavia (now known as Jakarta).
Currently, Pos Indonesia has an extensive network of more than 24,000 service points and provides 100% coverage in big cities, almost 100% in suburban areas, and 42% in rural and remote areas in Indonesia.
GDex said 3,700 of the post offices have online capabilities with a few in the big cities equipped with mobile post facilities.
GDex shares closed unchanged at RM1.65 each for a market capitalisation of RM2.26 billion.
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