SingPost’s Parcelgate fiasco is a corporate governance disaster
Disclosures by the postal service provider throw up more questions than answers
Add BT as a preferred source
IN A shocking disclosure on Sunday (Dec 22), national postal service provider Singapore Post (SingPost) announced that it had fired three senior management staff – group chief executive Vincent Phang, group chief financial officer Vincent Yik, and chief executive of its international business unit (IBU) Li Yu.
The terminations, which took immediate effect on the day before this announcement, came after the trio were found in a review by an external law firm to have been “grossly negligent” in the handling of internal investigations over a whistleblower’s report that SingPost had received earlier this year.
But what could be more shocking is what the company has failed to disclose in its bourse filing.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
From farmland to factory floor: Vietnam-Singapore industrial parks gear up for next chapter
Inside Indonesia’s trial of Gojek co-founder: How a Google laptop deal became a multitrillion-rupiah case
As Singapore squeezes, Malaysia tempts F&B operators across the Causeway
