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SingPost flags risk of impairment over US acquisition
TradeGlobal suffered big loss instead of projected profit for Q3 peak season
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Published Fri, Feb 10, 2017 · 09:50 PM
Singapore
SINGAPORE Post warned of a risk of "significant" impairment to the carrying value of its US e-commerce provider TradeGlobal which suffered a big loss instead of a projected profit for the third quarter peak season as margins came under pressure amid intense competition.
Impairments, if any, will be assessed based on the full financial year results and future plans for the business, said SingPost covering group chief executive officer Mervyn Lim at an earnings call late on Friday.
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