After two former senior executives declared they would contest their sacking and called their firing unfair, Singapore Post on Tuesday ( Dec 24 ) said it was confident in its legal position.
The company abruptly terminated the positions of its group’s CEO, Vincent Phang, group’s chief financial officer, and Li Yu, the group’s global business unit, on Saturday.
This came after a sensor into a complainant’s report had found “grossly careless” behavior in their management of internal investigations.
In a speech released on Monday, Mr. Phang and Mr. Yik said they would “vigorously battle” their fire.
After centuries of devoting and giving our best service, the committee decided to fire us from our positions at the business, and we are disappointed about that. It is our place that the cancellation is without merits, and was also randomly unjust”, they added.
A SingPost spokeswoman said on Tuesday that she was convinced of her constitutional position and would address this matter when and how necessary in response to CNA inquiries.
” In illumination of probable dispute, we are unable to provide any additional comment on this matter.”
When questioned about Mr. Phang and Mr. Yik’s intent to file legal claims against the business, the spokesperson said the company was unable to “mentigate more” in light of potential dispute.
In a statement released on Tuesday, S&, P Global Ratings stated that the three top executives ‘ firing has given the company a sense of uncertainty about its future.
” Given SingPost’s history of regular turnover in control, the latest absences increase the bank’s credit risks, “it added.
We will look into this control and management issue as part of our decision to fix a CreditWatch placement on our company ratings.
This comes days after SingPost revealed that it plans to sell its business in Australia.  ,
INVESTIGATIONS
The second reporting record, according to SingPost, was received in January of this year, with investigations continuing right away.  ,
According to the report, SingPost’s global enterprise system allegedly manually entered a number of delivery status codes. The business had entered into a contract with one of its biggest clients to provide these for foreign transhipment packages.
These human entries reportedly were made without any justification or supporting paperwork in an effort to avoid legal repercussions under the agreement.  ,
Earlier in March and April, results from the party internal audit were made public.
After that, an outside law firm and forensic service company were hired to carry out additional studies, which came to an end in August.  ,
After the inspection, three unexplained managers who were directly involved in the case went through administrative trials, and they were found to have committed major breaches of the bank’s code of conduct.  ,
They performed or approved guide” supply loss” standing codes for parcels, even though no supply attempt had been made and without supporting documents, said SingPost.  ,
Since then, the three administrators have been fired, and a police investigation has been filed against them.