Dear readers, Singpost stock is of focus today as its stock tumbled some over 10% following news that Singpost’s group chief executive officer Mr Vincent Phang, group chief financial officer Mr Vincent Yik and chief executive of the company’s international business unit Mr Li Yu have been asked to leave following the handling of a whistleblower’s report.
As of this time in writing, Singpost stock is trading at 50 cents per share. But even as it stock price declined, Singpost stock is currently trading at around 6.4% year-to-date.
I believe many Singaporeans are not unfamiliar with Singpost with many of us growing up with the company.
Not to deny, Singpost’s traditional business in mails is not exciting in the current days and I was excited for once when the company announced bold plans to transition to ecommerce. I was further encouraged when AliBaba became an investor in the company. Currently, Alibaba’s stake in the company is around 11.2%. Temasek Holdings still holds the largest share of Singpost at 21.7%.
One of Singapore’s top influencers, Steven Lim also invested in Singpost before and has exited.
Fundamentally, Singpost is currently undervalued at Price-to-Book ratio of 0.915 and pays a dividend yield of 1.61%.
Definitely, the departure of the top brass for Singpost may hurt investors’ confidence in the stock as what investors witness today.
I hope for the very Best in Singpost stock as it is none other than a very old and established brand of Singapore that many will easily relate to.
And to add, one of the remaining few ones left after the departure from Singapore stocks established old Singapore’s brands like NOL, SMRT, etc etc.