SINGAPORE - Singapore Post's dismissal of three senior executives, including its group chief executive and group chief financial officer, is unprecedented for a major Singapore-listed company, and highlights the importance of corporate governance, analysts said.
SingPost's handling of the whistle-blower's report that led to the dismissals has left shareholders with more questions.SINGAPORE - Singapore Post's dismissal of three senior executives, including its group chief executive and group chief financial officer, is unprecedented for a major Singapore-listed company, and highlights the importance of corporate governance, analysts said.
Replying to queries from The Straits Times on Dec 23, the Infocomm Media Development Authority said the e-commerce shipment data falsification case was raised to IMDA and SingPost in February by a whistle-blower, 10 months before SingPost disclosed the fact.It added: "Regulated postal services remain unaffected as this matter concerns delivery of international e-commerce parcels overseas. IMDA is monitoring the situation closely.
Mr Gerald asked if further reviews would be conducted following these investigations, and if the key findings from the internal investigations would be published. Replying to ST's queries on the customer's identity, SingPost said it is unable to provide any further information or details due to the confidentiality of the customer contract.
Mr Isaac Mah, now the CFO of the Australian business, will be the new group CFO, subject to regulatory approval.
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