Dear readers, the top corporate news yesterday was none other than the announcement of the CEO of Singtel to retire next year and company Yuen Kuan Moon to take over the CEO post. Singtel stock rose by 1.42% yesterday amidst the announcement of the news.
I believe many investors hope Singtel stock will fare better with a new CEO in charge. This is understandable given that Singtel stock is now trading at just $2.15 which is a multi-year low. I also believe that under a new CEO, Singtel will be charting a new direction to grow shareholder value.
I do not rule out Singtel divesting its 21.74% stake in SingPost stock. SingPost stock is now a languishing stock and it seems to make business sense for Singtel to divest its stake in SingPost to better focus on its core business.
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