Shares & Derivatives
8 things I learned from the 2017 Singapore Post AGM
By The Fifth Person  •  July 28, 2017
In recent years, Singapore Post (SingPost) (SGX: S08) has been facing challenges regarding its corporate governance and the S$230 million acquisition of TradeGlobal – a loss-making e-commerce company based in the U.S. In May this year, SingPost reported a massive S$185 million impairment loss on TradeGlobal after admitting the acquisition had “underperformed”. To make things worse, just days before SingPost’s 2017 AGM, a summary report on the review of SingPost’s acquisition of TradeGlobal was released by the law firm WongPartnership. The report exposed problems with SingPost’s corporate governance and the lack of due diligence surrounding the TradeGlobal deal. With that in mind, I decided to go to the AGM to find out how SingPost plans to handle the issue and turn TradeGlobal around. The AGM started with the announcement that Chairman Simon Israel was hospitalized and unable to attend the meeting. He pre-prepared a speech for shareholders that was ......
Read the full article
By The Fifth Person
The Fifth Person believes in spreading a message that financial literacy and sound investment knowledge can help people around the world achieve financial independence and lead better lives for themselves and their loved ones.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance