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SingPost to review TradeGlobal purchase after S$185 million writedown, S$65.2m group loss

It books total impairment charges of S$208.6 million; slashes dividends

Published Fri, May 12, 2017 · 09:50 PM

Singapore

POSTAL and e-commerce group Singapore Post has slashed dividends after booking a significant impairment from its United States e-commerce unit TradeGlobal in its fiscal fourth quarter.

It also said it would review whether there had been enough due diligence done on the acquisition of TradeGlobal in the first place, which several market observers earlier called into question.

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