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Stocks to watch: SingPost, Global Logistic Properties, TMC Education


THE following companies made corporate announcements before the beginning of trading on Friday:

Singapore Post's (SingPost) head honcho Wolfgang Baier said on Thursday evening that he was quitting the mainboard-listed company, catching investors by surprise and leaving the group scrambling to name a successor. His abrupt move has sparked speculation that Dr Baier, known for transforming SingPost from a staid mailman into an e-commerce logistics player, may have been poached by another global firm in a similar space.

Several months after it was initially scheduled to close the deal, logistics provider Global Logistic Properties has completed its acquisition of a stake in China's largest state-owned warehouse logistics provider for two billion yuan (S$435 million).

Private education firm TMC Education has finally found a potential buyer for two strata-titled lots at Peninsula Plaza but will have to book a S$1.21 million loss on the sale, it said in a Singapore Exchange filing on Thursday.