The whistleblower report claims SingPost’s IBU made manual entries of certain delivery status codes, which resulted in compensation for the customer involved. In the subsequent weeks, there was a series of to-and-fros between SingPost’s board and Phang and Yik, who have indicated their determination to contest the firing and welcome external inquiries on this episode.
The very public firing of three top Singapore Post (SGX:S08
) (SingPost) executives was a dramatic episode in what has been a rather jejune year for the Singapore market.
Former group CEO Vincent Phang, group CFO Vincent Yik, and Li Yu, head of the group’s international business unit (IBU), were given a nasty early Christmas gift on Dec 22, 2024, when the company announced they were axed over the “grossly negligent” manner in which they had handled a whistleblower report and subsequent probes.
