SINGAPORE: Aussie E-Tailer Pulls Plug On Singapore
Online shopping portal, dstore.com.sg, has shut down its Singapore operation just one month after setting up shop. Owned by Australian dstore.com and backed by Microsoft and Kerry Packer's Publishing and Broadcasting, the site sold sporting goods, music, CDs, and toys. Mr David Gold, its chief executive officer based in Sydney, could not be contacted but sources said that the closure was part of a group rationalisation process under way in Australia. The source said functions like finance and web content development had been centralised in Australia to cut costs.
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