SINGAPORE: Singapore Post said on Thursday ( Jan 2 ) it is open to discussions , with the Securities Investors Association Singapore ( SIAS ) about its decision to fire three top executives, after the retail investor watchdog called for an independent professional inquiry.
Due to the improper handling of reporting reports, SingPost fired its party chief executive officer Vincent Phang, party chief financial officer Vincent Yik, and mind of its international business system Li Yu next month.
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.”
” They were told to leave with immediate consequence, which in turn necessitates thorough interpretations,” they were told.
However, it must be noted that the company’s statements and the three executives ‘ actions have fared more into questions than they do answers.
If all are to make informed decisions regarding their assets, owners deserve better and so does the business.
He said the watchdog” highly urges” the commission of an impartial professional inquiry into the problem given the seriousness of the event and the number of” also circulating” issues.
SIAS calls itself” the tone for minority owners” and is an advocacy group for shareholders ‘ right.
In response to CNA’s questions on Thursday, SingPost stated that it had “been kept abreast of its reporting duty while being careful never to prejudice any possible legal proceedings.”
Given these considerations, a director said,” We have spoken with SIAS and are willing to talk about current events as much as we can.”
The organization had earlier requested that SingPost release the key findings of its inner research.
In a filing on the Singapore Exchange (SGX ) last Sunday, the company said that , it would not do so.  ,