Serious SingPost Angmo Management Run Road!

Double whammy for SingPost as rising competition coincides with leadership shake-up
TRANSPORT & LOGISTICS | Staff Reporter, Singapore

Three senior execs have resigned this year.

The Postman is definitely having a good year as competition has begun to intensify in the logistics market, while simultaneously losing key personnel from the top of its leadership hierarchy.

According to a report by Maybank Kim Eng, just recently, its COO Sascha Hower resigned to pursue overseas opportunities. Hower is also the CEO of Quantium Solutions, SingPost's primary logistics subsidiary in the region.

With the resignation, Maybank KE says this development could prompt Alibaba to re-evaluate its proposed acquisition of a 34% stake in Quantium Solutions as part of its JV with SingPost.

To make things worse, the report noted that there could be further negative newsflow from on-going investigations by ACRA into breaches of the companies.

Meanwhile, the transition of top-management could divert employees' attention from the core business and integration of massive M&As done by the previous board and management.

“Logistics is a highly competitive industry with low barriers to entry. However, the Singapore logistics scene is an unoptimised one, especially when it comes to last-mile connections. Japan-based Yamato, which has made good progress in its Asia expansion, is a regional player worth watching,” Maybank Kim Eng said.

it is solely the BOD at fault...........esp the chairman

Its a Public listed company. SGX has a duty and a responsibility to shareholders to look into this. I never heard of a decently run company where the CEO, CFO and COO all have resigned within 1 year, the Chairman designate refused to take up his position and the majority of the Board of Directors indicating their desire to step or not willing to renew their term upon expiry.

Its biggest shareholder is Singtel which is owned by Temasek. Temsek is run by the Prime Minister's wife. Surely the concerns are not only investor related but governance and compliance related. Already there is a breach resulting in a Director resigning for failing to disclose a conflict of interest in an acquisition of a company. Signpost has over 50 subsidiaries and JVs and this itself is quite onerous to manager.

The Board also has to explain why they allowed a concentration risk to evolve when 3 Germans were allowed to hold 3 key management appointments

At the moment the stock is down more than 3% on heavy volume.

now the fleas have suck the dog dry,and the dog lieing with tongue out and eyes rolled back with its legs to the sky like a dead dog at yulin dog meat festival.....all the ang moh fleas are scattering to pursue opportunities overseas........

seriously,this is blatant corruption and corporate negligence in broad daylight,where is the accountability in all this PAP????

i told u we should have brought in Gordon gekko ages ago to get rid of all the fleas and leeches that is bringing this great country and economy down!!!!!!singapore has become a second rate power!!!!!!!the carnegies the mellons the rockefellers build this great industrial empire because it was their money at stake.......today management has no stake in the company!!!!!!!!!!!!!!!!!!!

[video=youtube;PF_iorX_MAw]https://www.youtube.com/watch?v=PF_iorX_MAw[/video]

Jack ma is there to help. Owns 51% stake.
He can plant his own village man.

no_faith said:

Jack ma is there to help. Owns 51% stake.
He can plant his own village man.

Click to expand...

jack ma owns singpost?

That is why people who value their reputation inevitably run away from the PAP & their GLCs.

Remember how Chip Goodyear turned down the position of CEO of Temasick. He's no patsy like 70% of Sporeans

http://www.merriam-webster.com/dictionary/patsy
Definition of patsy
: a foolish person who is easily tricked or cheated

frenchbriefs said:

jack ma owns singpost?

Click to expand...

If u google jack ma buying sinkpost

no_faith said:

If u google jack ma buying sinkpost

Click to expand...

what in the god's name would he do that?such a shitty and lacklustre company.he only bought a 10 percent stake,whats that going to accomplish anyway?

scroobal said:

Its a Public listed company. SGX has a duty and a responsibility to shareholders to look into this. I never heard of a decently run company where the CEO, CFO and COO all have resigned within 1 year, the Chairman designate refused to take up his position and the majority of the Board of Directors indicating their desire to step or not willing to renew their term upon expiry.

Its biggest shareholder is Singtel which is owned by Temasek. Temsek is run by the Prime Minister's wife. Surely the concerns are not only investor related but governance and compliance related. Already there is a breach resulting in a Director resigning for failing to disclose a conflict of interest in an acquisition of a company. Signpost has over 50 subsidiaries and JVs and this itself is quite onerous to manager.

The Board also has to explain why they allowed a concentration risk to evolve when 3 Germans were allowed to hold 3 key management appointments

Click to expand...

its obvious PAP has no idea what is going on in their glc companies,they just trust the words of their paper generals and appointed foreign consultants and look at the balance sheets every half a year,as long as its profitable and in the black everything is alright.

frenchbriefs said:

what in the god's name would he do that?such a shitty and lacklustre company.he only bought a 10 percent stake,whats that going to accomplish anyway?

Click to expand...

Might be money laundering. Alot of PRC buy intangible assets in Singapore to route money out of China. It is a well known "secret". Just ask the oil traders and they would tell you how many of these PRC using company names to buy offshore commodity at inflated prices in order to transmit RMB out.

frenchbriefs said:

jack ma owns singpost?

Click to expand...

Ah Ma?

scroobal said:

the Chairman designate refused to take up his position and the majority of the Board of Directors indicating their desire to step or not willing to renew their term upon expiry.

Its biggest shareholder is Singtel which is owned by Temasek. Temsek is run by the Prime Minister's wife.

Click to expand...

Goodyear resignation within 3 months after taking over Temasek is also a wake up call that something is fishy going on in Temasek.

The reason of why having an Austrian as SingPost ceo and having
no credible qualified capable person to succeed Temasek hotseat
is questionable.

just like noble. gongkia investors die pain pain