2017 was a fantastic year for all investors as prices went up across almost all asset classes. This was true for most investors in Singapore's stock market unless you somehow managed to pick up duds like.. Singapore Post.
At S$1.25 per share, SingPost's share price had declined 41.6% from its peak in January 30th of S$2.14. Frankly, it is quite amazing that a company with monopoly in mail management and a hand in logistics and ecommerce can fare this badly in a bull market that had picked up other logistics players like Global Logistics Property (GLP) and Poh Tiong Choon at rich valuations.
This post details the amazing story behind the downfall of SingPost. Lets look back to 2015 to begin the explanation:
15 October 2015 ...
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