In a late Sunday night ( Dec. 29 ) filing to the Singapore Exchange (SGX ), the company announced that Singapore Post would not be publishing the findings of an internal investigation into whistleblowing reports.
It announced on December 22 that its party chief executive officer Vincent Phang, party chief financial officer Vincent Yik, and company chief executive Li Yu will no longer be employed due to the improper handling of the reporting information.
After an interior inspection and a police report were filed against them, three different managers who were directly involved in the incident were even fired.
SingPost referred to the announcements it made on SGX on December 22 and late on Sunday night in response to a question from the Securities Investors Association ( SIAS ) regarding whether the main findings of the internal investigation report will be released.
” Both announcements show that the future negotiation with the impacted customer has no significant economic impact on the group.
” The company will make more disclosures as and when there are product developments, “it added.
WHAT HAPPENED
A journalist report was filed earlier this year , about the party’s non-regulated global e-commerce shipping piece business.  ,
According to the report, SingPost’s global enterprise product allegedly manually entered a number of shipping status codes. The business had entered into a contract with one of its biggest customers to provide these for global transhipment packages.
According to some, these guide entries were made in an effort to avoid legal repercussions under the agreement without any foundation or supporting documentation.  ,
Three directors who had been directly involved in the investigation were the subject of disciplinary proceedings. It was found they had committed major breaches of the agency’s code of conduct, SingPost said.
Even though no supply attempt had been made and without supporting documentation, the managers were found to have performed or approved regular “delivery loss” standing codes for packages.
They have been fired, and a police record has been filed against them.
Mr Phang, Mr Yik and Mr Li were , found to be” greatly careless “in their management of the inner investigations into the reporting report.
They , had” accorded unfair weight” to the misstatements by staff from the international business system functions.