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Singapore Post
14-05-2017, 09:14 AM, (This post was last modified: 14-05-2017, 09:15 AM by corydorus.)
Post: #461
RE: Singapore Post
Is not easy to operate in western country without economic of scale and municipal locality connection to get deals especially Germany. Even though US is lesser so is still tough. Local laws and benefits are vastly protected. It can bankrupt the company in the long run if they do not manage it like an MNC.

That's my impression.

Just my Diary
corylogics.blogspot.com/



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17-05-2017, 06:08 PM,
Post: #462
RE: Singapore Post
Lazada Singapore Moves Entire Warehouse Operations to SingPost’s Regional eCommerce Logistics Hub

Lazada, the leading online shopping destination in Southeast Asia, and Singapore Post Limited, the country’s postal and eCommerce logistics service provider, today announced that Lazada Singapore has moved its warehouse operations to SingPost Regional eCommerce Logistics Hub in Tampines Logistics Park.

With investments by Alibaba in both companies, the move allows Lazada and SingPost to leverage on each other’s strengths to meet rising eCommerce demand in Southeast Asia. This combination of strengths in eCommerce and logistics will enable both companies to be in a leading position in the industry to serve a wider spectrum of customers, both in Singapore and the region. This also emphasises Lazada’s aim to work together with the wider eCommerce ecosystem in Singapore.

More details in http://infopub.sgx.com/FileOpen/Press%20...eID=454232
Specuvestor: Asset - Business - Structure.

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22-07-2017, 09:03 AM, (This post was last modified: 22-07-2017, 09:04 AM by weijian.)
Post: #463
RE: Singapore Post
(13-05-2017, 12:23 PM)weijian Wrote: SP will be doing a review of what went wrong on its TradeGlobal purchase, just barely 1.5years after purchasing it in Oct2015. The results of the review would be released before the AGM in July 2017 and it would be interesting to learn together with them.

SingPost revenue rises 17.1 per cent for the full year, net profit falls 86.6 per cent on impairment charges

Following the announcement of the risk of significant impairment in the Q3 quarterly results, the Board formed an independent committee to conduct a thorough review of the circumstances surrounding SingPost’s consideration and approval of the TradeGlobal acquisition. To assure stakeholders of the independence of the review, the committee comprises Ms Elizabeth Kong, Mrs Fang Ai Lian and Mr Bob Tan, independent directors who were all appointed to the Board after the acquisition of TradeGlobal.

F17 results press release: http://infopub.sgx.com/FileOpen/Press%20...eID=453567
TradeGlobal's accqusition in Oct2015: http://www.channelnewsasia.com/news/busi...6m-8247094

An interim summary report has been released by SingPost earlier this week in response to its TG purchase. While it did not go into details like names/numbers, there are a few big red flags which were systemic in nature:

- Some non executive folks seem to have went beyond their "call of duty" and involved themselves too intimately with managing. The acquisition timing is close to previous CEO Wolfgang's resignation and one may be tempted to inference at least a partial connection to it.
- Bits and pieces of information here and there. The acquisition parameters (price/forecasts etc) of TG by its prior PE parent in 2013 was not deliberated at length, was hidden and then subsequently appeared in the final SPA document.
- Due diligence, independent validations and valuations were not professional and consistent enough. Was competency simply lacking or was there a persistence by certain individuals for the M&A to go through, or simply both?

Detailed report: http://infopub.sgx.com/FileOpen/SGX%20An...eID=461816

A few personal thoughts:
- A few spiders crawling out from the closet, indicate a high probability of skeletons inside it.
- Good people generally don't work under/for bad circumstances/results. They care about reputation more than the money.

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22-07-2017, 11:26 AM, (This post was last modified: 22-07-2017, 11:27 AM by choya.)
Post: #464
RE: Singapore Post
(22-07-2017, 09:03 AM)weijian Wrote: - Some non executive folks seem to have went beyond their "call of duty" and involved themselves too intimately with managing. The acquisition timing is close to previous CEO Wolfgang's resignation and one may be tempted to inference at least a partial connection to it.
- Bits and pieces of information here and there. The acquisition parameters (price/forecasts etc) of TG by its prior PE parent in 2013 was not deliberated at length, was hidden and then subsequently appeared in the final SPA document.
- Due diligence, independent validations and valuations were not professional and consistent enough. Was competency simply lacking or was there a persistence by certain individuals for the M&A to go through, or simply both?

Detailed report: http://infopub.sgx.com/FileOpen/SGX%20An...eID=461816

A few personal thoughts:
- A few spiders crawling out from the closet, indicate a high probability of skeletons inside it.
- Good people generally don't work under/for bad circumstances/results. They care about reputation more than the money.
Good insights! Scan the detailed report and saw dates listed in points #18 and #19 of Annex A. Soon after that a key player who was involved in TG acquisition left. Perhaps just a coincidence though timing is too close for comfort. Singpost used to have strong moat in SG which they could have capitalized and leverage. Instead the management then seems distracted.

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