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Hot stock: SingPost shares fall after regulatory probe

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[SINGAPORE] Singapore Post shares fell as much as 3.5 per cent to a two-and-a-half month low on Thursday after the company said the city-state's Accounting and Corporate Regulatory Authority was starting investigations into possible breaches of the Companies Act.

The ACRA asked the company on May 18 to furnish it with the special audit report, SingPost said, referring to a report that identified lapses in disclosures relating to certain acquisitions by the company.

The company, whose biggest shareholders are Singapore Telecommunications and Alibaba, had only released the summary of the report to the public.

REUTERS