In particular, the brokerages have highlighted the risk of “significant impairment” to the carrying value of SingPost’s US subsidiary TradeGlobal – as previously disclosed by the company’s management – as a factor which could adversely impact the stock’s future business plans as well as results for the full financial year ending Mar 13.
SINGAPORE (Feb 13): UOB Kay Hian, Maybank Kim Eng and OCBC Investment Research are unanimously maintaining their “hold” calls on Singapore Post (SingPost) after the provider of mail, logistics and eCommerce solutions on Friday posted a 27.9% fall in 3Q17 earnings – falling short of earnings estimations for all three research houses.
(See also: SingPost records 27.9% fall in 3Q earnings to $31.4 mil on US e-commerce operating losses)
