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Is this case under police case( CAD) ?? Any update anyone knows??
bishan22 ( Date: 06-May-2017 10:59) Posted:
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lucky i sold all my positiin 2 years ago when i spotted not right in the Annual reports...If new CEO then lets see the Quarters report is ok or not... Might consider to buy if its good.... Singpost is one of my favourite stock hold forever... Lets see whether they can do something about the integerity and Administrative expenses... will look into it carefully before invest for long
bishan22 ( Date: 06-May-2017 10:59) Posted:
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CEO go Hollan liao......
Trader130 ( Date: 06-May-2017 10:56) Posted:
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Hope the CEo not involve too
pasttime ( Date: 05-May-2017 12:01) Posted:
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This is the INTEGRITY Problems ....
The Singapore Exchange (SGX) has publicly reprimanded Singapore Post following a special audit that uncovered weak governance controls at the company' s board.
It also found potential inaccuracies in records and a lack of proper procedures for evaluating deals and for disclosing conflicts of interest.
The rebuke brings to an end the fiasco from a regulatory standpoint, nearly 18 months since SingPost admitted to an " administrative oversight" by not properly disclosing a director' s interest in its purchase of freight forwarder F. S. Mackenzie.
Who is this DAVID WONG ? He knows Keith Tay before this deal ?
By Mak Yuen Teen
I REFER to the executive summary of the special audit report released by Singapore Post (SingPost). The special auditors did a professional job but may have been hampered by certain limitations in their work. Perhaps as a matter of good practice for special audits, the methodology used should be fully described, even in an executive summary, as it is relevant to the interpretation of the findings.
The special audit relied extensively on interviews, email exchanges and minutes of meetings but the report did not explain how some of the evidence was obtained or the basis of selection or non-selection of individuals who were interviewed. For example, at various points in the report, reference is made to email exchanges. Were the emails obtained through a forensic investigation or were they only emails produced by those concerned? This is important because if only selected emails were available, they may not provide a full picture of what had transpired.
With regards to the acquisition of Famous Holdings Pte Ltd (FHPL), the report quoted interviews, email exchanges, and meetings involving various persons, including the seller Quincy Tan, Stirling Coleman Capital Ltd (SCCL)'s managing director Ang Kay Tiong, SingPost director Keith Tay and various members of SingPost management. Page 6 of the report lists a David Wong as a consultant of FHPL and senior adviser to SCCL but the report's account of the FHPL's acquisition did not include a single reference to any comments made by him. Was he interviewed for the special audit? If not, why not, given that his roles in FHPL and SCCL mean that he was likely involved in the discussions? If he was interviewed, why was there no mention of his comments in the report?
By Mak Yuen Teen
I REFER to the executive summary of the special audit report released by Singapore Post (SingPost). The special auditors did a professional job but may have been hampered by certain limitations in their work. Perhaps as a matter of good practice for special audits, the methodology used should be fully described, even in an executive summary, as it is relevant to the interpretation of the findings.
The special audit relied extensively on interviews, email exchanges and minutes of meetings but the report did not explain how some of the evidence was obtained or the basis of selection or non-selection of individuals who were interviewed. For example, at various points in the report, reference is made to email exchanges. Were the emails obtained through a forensic investigation or were they only emails produced by those concerned? This is important because if only selected emails were available, they may not provide a full picture of what had transpired.
With regards to the acquisition of Famous Holdings Pte Ltd (FHPL), the report quoted interviews, email exchanges, and meetings involving various persons, including the seller Quincy Tan, Stirling Coleman Capital Ltd (SCCL)'s managing director Ang Kay Tiong, SingPost director Keith Tay and various members of SingPost management. Page 6 of the report lists a David Wong as a consultant of FHPL and senior adviser to SCCL but the report's account of the FHPL's acquisition did not include a single reference to any comments made by him. Was he interviewed for the special audit? If not, why not, given that his roles in FHPL and SCCL mean that he was likely involved in the discussions? If he was interviewed, why was there no mention of his comments in the report?
this stock artificially suppress by some big shots. price not related to fundamental or news. but i no add positiion yet as they have money to push it down.
positive event coming up.
1. reporting period. - any provison will be in or not. then that effect is removed.
2.new ceo starting jun- < 1 month
3. mall openning soon
downside is they are in very competitve new trade. of last mile delivery. ceo wiht experince hopefully can move it in right.
Not much movement - think this stock is mostly owned by buy-and-hold investors and probably retirees.
I do see a formation that isn' t looking too good, and which may take weeks or months to materialise. Trade with care, pls.
stockpicker ( Date: 05-May-2017 05:03) Posted:
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Can you elaborate your statement "t i dont like about Singppst not only these but also the balance sheet does not telly with the casflow outflow somemore so much different"??
This is a serious accusation.
This is a serious accusation.
Trader130 ( Date: 04-May-2017 22:43) Posted:
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Don' t think the news will affect the price by much.
1st, this lapse occurred some 3 years ago and the price was adjusted when the news was first announced
2nd. The Management involved including the CEO have been changed
3nd. The price has just been trimmed, losing more than 7% because of the impairment loss of Trade Global
Lastly, this matter is trival, involving some staff discipline with no financial implication in the fundamental.
As SGX has already informed the relevant authority, hopefully this will trigger an investigation. Would love to see some of the directors who recommended it be hanged.
Beat is the person involved ... no need to mention name you all know
Trader130 ( Date: 04-May-2017 22:46) Posted:
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Now companies must be clean , can the auditors be sack???
Trader130 ( Date: 04-May-2017 22:43) Posted:
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That is what i dont like about Singppst not only these but also the balance sheet does not telly with the casflow outflow somemore so much different... and cant really predict the future earning ... if you are hardcore investor pls take a clearer view on its balance sheet on which categories they spent more $$$. each year.. Always the same R& A i dont like most ... as if bluff like that, investors not 🐷 🐷 🐷
TenPips ( Date: 04-May-2017 22:16) Posted:
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Similar to hyflux, an unexplained surge before release of bad news.
TenPips ( Date: 04-May-2017 22:15) Posted:
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Where is the integrity - Singapore Post was reprimanded by the Singapore Exchange for breaching the listing rules in F.S. Mackenzie (FSM) acquisition
Saw some bad news in sgx announcement. Sgx publicly reprimanded singpost and would direct the breach incident to relevant authority. Pls check sgx website for more info.
Waleu
leongyan ( Date: 17-Apr-2017 08:45) Posted:
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Heading to South Africa tmr...this counter might be gone 4ever sia...
doing great today! move it move it, finally see it at 1.4 again!