Nowadays, it is not surprising that many of the blue chips in Singapore Exchange suffer from poor stock performance because of the global headwinds and challenging operating environment. But this is certainly not the case for SingPost share price, which plunged after the announcement of 40% decline in net profit for Q1FY18/19.
Upon the release of the financial result in August 2018, investors sent SingPost share price reeling from $1.38 to as low as $1.03. Till now, SingPost share price has not recovered its form and is on course to retreat below the $1.00 mark. Should investors run for their lives?
Before writing this counter off, it should be noted that Alibaba’s Jack Ma is a major shareholder of SingPost, with stake amounting to 14.5%.
Question now is: will Jack Ma buy over SingTel’s stake of 21% in SingPost? Given that Alibaba’s stakes were ......