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SingPost appoints former SGX CFO and former SIA Engineering CEO as new non-executive, independent directors

SingPost appoints former SGX CFO and former SIA Engineering CEO as new non-executive, independent directors

By Swedan Margen

Fashion

SINGAPORE Post (SingPost) on Monday (Feb 17) announced the appointment of two new non-executive, independent directors, Chng Lay Chew and Ng Chin Hwee.

Ng formerly served as chief executive officer and executive director of SIA Engineering between April 2020 and September 2023, according to the bourse filing. Chng was chief financial officer of the Singapore Exchange between December 2011 and September 2020.

This comes months after the company announced in December 2024 the firing of three senior management executives over their negligence in handling internal investigations related to a whistleblower’s report, the company said

They were former group chief executive Vincent Phang, group chief financial officer Vincent Yik, and the chief executive of the company’s international business unit (IBU) Li Yu.

Phang stepped down from the company’s board of directors in January.

Earlier in February, SingPost also announced the resignation of its former local operations chief executive Shahrin Abdol Salam. The company’s group chief operating officer Neo Su Yin stepped up to be Singapore CEO following Shahrin’s departure.

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Parcelgate

SingPost received a whistleblower’s report earlier in 2024 relating to its non-regulated international e-commerce logistics parcels business. A whistleblower’s report on the same issue was also sent to the Infocomm Media Development Authority of Singapore.

After beginning investigations into the report, SingPost found that three managers in the IBU committed “serious breaches” in its code of conduct while handling delivery for one of the company’s largest customers.

They had performed or approved manual updates of the “delivery failure” status code for parcels SingPost had agreed to deliver without supporting documents and even though no delivery attempt had been made.

The company fired the three managers and filed a police report. It informed the customer about the whistleblowing reporting, as well as the findings, and both parties agreed on a settlement.

SingPost shares closed up 0.9 per cent or S$0.005 at S$0.56 on Friday before the announcement.

Copyright SPH Media. All rights reserved.

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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