SingPost flags risk of impairment over US acquisition

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…