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Starship Supreme	01-Feb-2019 16:05        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Knock, knock.... hello Singpost, anyone there? On Singpost' s earnings day, our Prof Mak gives it a wake-up call................ Commentary: Are SingPost&rsquo s lapses indicative of a deeper malaise in the company? Published February 01, 2019 First published by Channel NewsAsia on January 31, 2019 By Mak Yuen Teen In a digital age where transactions, notifications and records have been digitalised, you would think the postman gets it easier. But news of SingPost&rsquo s investigations this week after fresh images of mail found in a rubbish bin  in Ang Mo Kio went viral and its subsequent update that it has referred the case to the Police have touched a raw nerve. Last year, SingPost fired a postman  after he was found to have thrown away returned letters and direct mail at a condominium, and a video of someone confronting the man and claiming he had just thrown a stack of letters into a rubbish bin had gone viral. SingPost too had issued an apology  just two weeks ago after receiving a string of complaints regarding undelivered mail from residents.  BOARD RESPONSIBILITY These operational lapses have raised questions as to whether the company&rsquo s board of directors ought to be held responsible. Are these episodes management failures that could have occurred even with the best corporate governance in place, or could they be indicative of the board failing to exercise adequate oversight and discharging their responsibilities? The answer lies in the extent to which the board has taken necessary and reasonable steps when it became aware of problems. REVIEWING SINGPOST Let&rsquo s now consider the reported service failures at SingPost &ndash including stacks of letters left on top of letter boxes, letters being thrown away, postmen delivering failed delivery notices but not actually ringing people&rsquo s doors and leaving parcels on people&rsquo s doorstep, as well as allegations of falsifications of proof of delivery. SingPost had  blamed a seasonal surge in demand over the November to December period, and cites additional 20 doorstep deliveries each day. Yet some readers say these problems seem to be longstanding ones that occur throughout the year so it is difficult to see how the fault can be attributed to seasonal factors. Seasonal surges in demand are also recurrent in nature in the business of mail delivery so it is reasonable to expect the management to have forecasted demand and allocated the necessary resources to meet it. SingPost had also attributed the incidents to the individual actions of a few wayward employees. But many of these service failures are clearly not new. For some years now, there had been complaints of failed delivery notices despite households having someone at home at those times. SingPost had then referred the most recent case of mail seen  in an Ang Mo Kio rubbish bin to the police, which may go some way to deter future rogue acts by errant postmen but might this distract from the crux of these problems? And will it solve any potentially deeper corporate governance issues? PAST TROUBLES RISING BACK TO THE SURFACE? Between 2015 and 2016, a number of corporate governance concerns over SingPost&rsquo s business operations were raised in a series of news reports and commentaries, which later contributed to an overhaul of the company&rsquo s board and senior management. Understanding what some of these woes were for SingPost those years ago may illuminate the root of the service lapses in recent months. One concern was whether SingPost&rsquo s ventures into e-commerce and other areas would affect the quality of its traditional postal services, and how equipped SingPost was to drive this new business model. Over a five-year period, the company made more than 20 acquisitions, spending over half a billion dollars to transform SingPost from a mail delivery business to a logistics and e-commerce business. With traditional postal services relegated to a sunset industry, there were concerns the company may lose sight of ensuring service standards are maintained, when other areas promise more potential for growth and hold greater lure for investors with deep pockets. A second concern was whether some of the long-serving independent directors who had been there for almost two decades had been there for too long. Did they have relevant experience and skills in the context of SingPost&rsquo s transformation? Might they have been overstepping their boundaries in making decisions they might not be equipped to? Some of these directors formed an unusually active executive committee, blurring the lines between the role of company management and that of the board. The last acquisition made by the then board and executive committee &ndash the US e-commerce company TradeGlobal &ndash cost the company S$236 million but had to be impaired by S$185 million just one-and-a-half years after. The board had also recruited then 37-year old Dr Wolfgang Baier as CEO (International) in 2011 and promoted him to Group CEO the same year. They also appointed Dr Sascha Hower Group Chief Operating Officer in 2012 when he was 33. Both left in 2016. A third concern was whether the management team was equipped to integrate and manage the new businesses. Based on the disclosures of their profiles at the time of the appointment, Dr Baier and Dr Hower were career consultants with little or no experience managing companies. Several other consultants were also appointed to key management positions. Then there was the high turnover of management, both in the years preceding the appointment of Dr Baier, and following his departure. Stock exchange rules only require disclosure when directors and certain key officers leave so it is unclear whether this was indicative of a similarly high employee turnover throughout the company. A HEAVY BURDEN FOR THE CURRENT TEAM AT SINGPOST These issues from the past may affect SingPost&rsquo s day-to-day operations if business controls have been weakened, including those relating to employee recruitment, induction, training, welfare, supervision and assessment &ndash fueling frustration among its overworked and underappreciated postmen. SingPost&rsquo s share price has dipped to about 60 per cent of what it was just before Dr Baier&rsquo s departure, and dividends have been cut. Public confidence too has been shaken when the recent few cases found huge traction with readers who say they experienced similar issues. It should certainly not dismiss problems by attributing these to seasonal factors or rogue  employees without a comprehensive assessment of the complaints. https://governanceforstakeholders.com/2019/02/01/commentary-are-singposts-lapses-indicative-of-a-deeper-malaise-in-the-company/
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Sweementian Member	01-Feb-2019 15:54        Sweementian About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why is SP earn money but share price still drop?
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Whyliddat Senior	01-Feb-2019 12:10        Whyliddat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Excluding exceptional items, SingPost's underlying net profit for the quarter was down 7.5 per cent from last year at S$32.9 million. Read more at https://www.channelnewsasia.com/news/business/singpost-net-profit-rises-q3-one-time-gain-4px-11193304
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Qanghoo Supreme	30-Jan-2019 09:36        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yep, over the years, a number of misdeeds (I wldn' t even think they are just lapses).  Yet, SP seems to continue to be in the limelight for the wrong reasons.  The CEO shd really be responsible.  Perhaps the Board too.  Whyliddat      ( Date: 30-Jan-2019 09:00) Posted: imda will fine singlost heavily, but alws same thing. if you checked history you will find ida fined them previously for various lapses but what good does it bring? The group ceo from toll, brought in own pple from toll as ceo of mail div....no exp in postal industry, i dont think he knows postal acts too ....joker company
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Whyliddat Senior	30-Jan-2019 09:00        Whyliddat About Contact  Quote this Post!
x 0   x 0  Alert Admin	imda will fine singlost heavily, but alws same thing. if you checked history you will find ida fined them previously for various lapses but what good does it bring? The group ceo from toll, brought in own pple from toll as ceo of mail div....no exp in postal industry, i dont think he knows postal acts too ....joker company
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Qanghoo Supreme	30-Jan-2019 07:54        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	May not be even too much to say that the CEO has to resign to take full responsibility.  It is as serious as that.  runaway      ( Date: 30-Jan-2019 07:23) Posted: For a postman to dump the mail in the rubbish bin, many of which registered, something is dire wrong with the   company. The postman involved, or postmen, must be sacked to send a strong message. This case was uncovered by complaints from the public, Are there more cases of bad behavior to be uncovered? SingPost is still an old school, lack of innovations, slow to change.... If it is not protected by law to be the de facto Post Office, it would have gone bust. Everytime when it is under water, it is helped by raising the price of stamps and postal services. Some old schools of protected businesses have taken steps to let go of excess and complacent staff, it is time for SingPost to do the same.
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Subaru2018 Senior	30-Jan-2019 07:47        Subaru2018 About Contact  Quote this Post!
x 0   x 0  Alert Admin	singpost is not utilising fully its monopoly status (mailing) and wasting money on money losing ecommerce. Now many dlilivery has stolen their cheese bye more competitive and faster delivery.
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runaway Senior	30-Jan-2019 07:23        runaway About Contact  Quote this Post!
x 0   x 0  Alert Admin	For a postman to dump the mail in the rubbish bin, many of which registered, something is dire wrong with the   company. The postman involved, or postmen, must be sacked to send a strong message. This case was uncovered by complaints from the public, Are there more cases of bad behavior to be uncovered? SingPost is still an old school, lack of innovations, slow to change.... If it is not protected by law to be the de facto Post Office, it would have gone bust. Everytime when it is under water, it is helped by raising the price of stamps and postal services. Some old schools of protected businesses have taken steps to let go of excess and complacent staff, it is time for SingPost to do the same.
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Qanghoo Supreme	29-Jan-2019 22:28        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	I agree with u.  I may not live long enough to see what' s coming.  But from the time I opined to  my boss many yrs back that we are mediocre at most tilll now, I haven' t seen much that has made me change my view.  If at all, we may have backslided even more. SuperLuckyCorn      ( Date: 29-Jan-2019 14:06) Posted: Singapore High Tech?? As a engineer fighting the war for more than 20yrs. We can tell u for sure...China much better in all levels (Electronics field), Software & Firmware. And we see how they work...they work with their lives & Hearts. Just like what i see in American, Japanese, Korea, Taiwanese. We ppl..moslty in this island...unable to take this  kind of shit, work life balance is more important. A few very good one will fly to China or US, where they can get fund easier and more likely to be successful. Here...too many con ah gong $$ ??   huathuat88888      ( Date: 29-Jan-2019 13:41) Posted: --- Post Removed by User ---
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Subaru2018 Senior	29-Jan-2019 22:21        Subaru2018 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Read online zaobao news, reported that singpost mailman dumped the letters into trashbin instead of deliver to mailbox.
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alidaud Senior	29-Jan-2019 22:04        alidaud About Contact  Quote this Post!
x 0   x 0  Alert Admin	Should be strong support at 0.96.. Come on SingPost ! http://www.cakap.net/gann-square-of-9/?s=singpost& cp=0.98
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investshare Supreme	29-Jan-2019 21:51        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	I hope the postman arrested will get fair treatment. Of course what he did was wrong. But so many cases have happened, it is not isolated case. It is systematic issue, either SingPost hires the wrong people, give the wrong training, lack of monitoring or the workload is really unmanageable.
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Starship Supreme	29-Jan-2019 14:37        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	One of countless Clown Stocks in SGX Circus...................... Whyliddat      ( Date: 29-Jan-2019 11:18) Posted: This company mgmt full of clowns...It's a culture thingy kangaroo11      ( Date: 29-Jan-2019 10:09) Posted: https://mothership.sg/2019/01/singpost-mail-throw-away-rubbish/
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SuperLuckyCorn Supreme	29-Jan-2019 14:34        SuperLuckyCorn About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	ER...this one, Singpost may win. Bcos India..many times reject China for " special" reason. Just like long ago, India reject " Huawei" and buy Europe tel, for security reasons. huathuat88888      ( Date: 29-Jan-2019 14:12) Posted: --- Post Removed by User ---
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SuperLuckyCorn Supreme	29-Jan-2019 14:06        SuperLuckyCorn About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Singapore High Tech?? As a engineer fighting the war for more than 20yrs. We can tell u for sure...China much better in all levels (Electronics field), Software & Firmware. And we see how they work...they work with their lives & Hearts. Just like what i see in American, Japanese, Korea, Taiwanese. We ppl..moslty in this island...unable to take this  kind of shit, work life balance is more important. A few very good one will fly to China or US, where they can get fund easier and more likely to be successful. Here...too many con ah gong $$ ??   huathuat88888      ( Date: 29-Jan-2019 13:41) Posted: --- Post Removed by User ---
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Qanghoo Supreme	29-Jan-2019 11:48        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	But why is the regulator not coming forward to assure sporeans?  To my mind, a new basic mail service provider ought to be built up n SP consigned  to oblivion.  Whyliddat      ( Date: 29-Jan-2019 11:18) Posted: This company mgmt full of clowns...It's a culture thingy kangaroo11      ( Date: 29-Jan-2019 10:09) Posted: https://mothership.sg/2019/01/singpost-mail-throw-away-rubbish/
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Whyliddat Senior	29-Jan-2019 11:18        Whyliddat About Contact  Quote this Post!
x 0   x 0  Alert Admin	This company mgmt full of clowns...It's a culture thingy kangaroo11      ( Date: 29-Jan-2019 10:09) Posted: https://mothership.sg/2019/01/singpost-mail-throw-away-rubbish/
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kangaroo11 Veteran	29-Jan-2019 10:09        kangaroo11 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	https://mothership.sg/2019/01/singpost-mail-throw-away-rubbish/
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SuperLuckyCorn Supreme	16-Jan-2019 09:34        SuperLuckyCorn About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	After share buyback & reshuffling, better chance to give better dividend. Better dividend & time will suffocate shortists.
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SgYuan Supreme	16-Jan-2019 09:05        SgYuan About Contact  Quote this Post!
x 0   x 0  Alert Admin	wave c tgt range 82 to 91 - end 88.5 uptrend ew w0 885 w1?975 w1 90 - very powerful w1 - it swing fr day chart bollinger low to high - it punch thr high bollinger @963 to 975 - once uturn w2 start w2 55 tgt 920 dn 61.8% - wait for correction w3 w4 w5 SgYuan      ( Date: 14-Dec-2018 22:21) Posted: U predicted 90 cmg one month ago. Now even the quarterly chart also break. Left only EW wave c tgt 82 dn 100% Now is bottom scoop time - range 82 to 91 No 100% Good luck tangsookiam1947      ( Date: 14-Dec-2018 20:55) Posted: 92 cents have been breached. So what is the next level now? For advice pls
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