Flip-flop at SingPost shows board instability

THE Securities Investors Association (Singapore) (SIAS) is closely following recent developments over the appointment of the chairman of SingPost. To say the least, we are disappointed. The abrupt U-turn of the chairman-designate on his acceptance seems to suggest the board made a hasty decision to appoint a new chairman, perhaps by not giving Low Teck Seng sufficient time to consider the demands of this new appointment and by not taking into consideration his heavy responsibilities at the National Research Foundation (NRF).

Prof Low has said he accepted his nomination by the board as it would not be good to announce Lim Ho Kee's stepping down "without a name to take the helm" and that it would be "the best for SingPost". His reasons, one should think, were very appropriate given …