SIAS ‘ CALL FOR INDEPENDENT INQUIRY
On Jan 2, SingPost said it is open to discussions with the , Securities Investors Association Singapore ( SIAS ) about its decision to fire the three top executives, after , the retail investor watchdog called for an independent professional inquiry.
According to SIAS president and CEO David Gerald,” the immediate expulsion of three top professionals from SingPost, coupled with their vehement denial of the allegations against them, has raised vital questions in the minds of shareholders, investors, and the business.”
He had stated that the watchdog” highly urges” the commission of an independent professional investigation into the subject given the severity of the event and the large number of queries” still circulating.”
In response to CNA’s inquiries, SingPost had stated that it had “been cautious not to prejudice any possible legal proceedings” while fulfilling its publication obligations.
Given these considerations, we have spoken with SIAS and are willing to talk about current events as much as we can.
Mr Phang and Mr Yik had even responded to the agency’s call, saying that , they may welcome and participate fully in any independent investigation, including any from other governmental body or government.  ,
Both executives stated on January 7 that they are “prepared to not do any prosecution options,” because our top priority is to create the full facts of the case and re-establish our position and careers rather than seek damages.