SingPost shares tumble nearly 11% after firing of three senior executives, including group CEO

SingPost shares tumbled almost 11% as investors reacted negatively to the leadership shake-up. Three senior members of the management team — including group CEO Vincent Phang and group CFO Vincent Yik — were sacked over the weekend for allegedly mishandling an internal probe on failed deliveries. A whistleblower report had shown that SingPost had manually updated delivery codes for some of its international e-commerce parcels to indicate delivery failure without actually trying to deliver them — all with the intent of avoiding contracted penalties for non-delivery. Alexandra Anand reports.