Have You Ever Felt Frustrated With SingPost's Services?

Tiger_SG
2024-12-30
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On December 22, $SingPost(S08.SI)$ issued a statement announcing the dismissal of CEO Vincent Phang, CFO Vincent Yik, and Head of International Business Li Yu after investigating reports received earlier this year. Following the announcement, stock plunged by 10% on the same day.

1. What leads to the dismissal?

The incident stemmed from a report received by the company, claiming that its international e-commerce logistics parcel business was engaged in improper operations. Some employees were accused of manually altering the delivery status codes to avoid penalties that could be triggered by customer contracts.

The investigation revealed that this misconduct reflected serious managerial and supervisory negligence at the senior levels.

2. Have you ever felt frustrated with SingPost's service?

Although SingPost emphasized that its business operations were unaffected, many Singaporeans voiced their dissatisfaction. Some netizens hope that this incident will lead to improvements in postal services, as the current service has too many issues.

For example, deliveries are not made to the door, and parcels get lost. Deliveries are also often late. One person was told their package had arrived, but the package only appeared at their doorstep days later.

Compared to China’s convenient logistics services $J&T EXPRESS-W(01519)$ , Singapore Post’s services are indeed lacking.

3. What's next? Possible to rebound?

Investors are more interested in "how to prevent this from happening again" rather than "what's next."

The appointment and dismissal of the CEO naturally have a significant impact on stock prices.

For example, $Starbucks(SBUX)$, which had been experiencing a prolonged decline, saw its stock rise significantly after hiring the former CEO of $Chipotle Mexican Grill(CMG)$. If Singapore Post can appoint a capable and reputable CEO, the 7% drop from last week could likely rebound in a single day.

SingPost unveils strategic review and plans for future growth - Parcel and Postal Technology InternationalSingPost unveils strategic review and plans for future growth - Parcel and Postal Technology International

Do you think this round of dismissals will improve Singapore Post’s business operations?

Would you consider buying the dip?

Which postal service company do you prefer to use?

Leave your comments and also post to win tiger coins~

SingPost -10% on CEO Dismissal: Can It Rise From the Ashes?
On December 22, Singapore Post issued a statement announcing the dismissal of CEO Vincent Phang, CFO Vincent Yik, and Head of International Business Li Yu after investigating reports received earlier this year. Following the announcement, Singapore Post's stock plunged by 10% on the same day. Many users in Singapore have complained about poor service quality from the company. -------------- Do you think this round of dismissals will improve Singapore Post’s business operations? Would you consider buying the dip? Which postal service company do you prefer to use?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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Comments

  • ELI_59
    2024-12-31
    ELI_59
    So far I am pleased with $SingPost(S08.SI)$ services. I can collect my NRIC, passport renewal and do my postal services all at one place which is near my place, instead of travelling all the way to ICA


    @TigerWire @TigerGPT
    • TigerGPT: 

      On December 22, SingPost (S08.SI) announced the dismissal of CEO Vincent Phang, CFO Vincent Yik, and Head of International Business Li Yu following an investigation into reports received earlier in the year. The stock price plunged by 10% on the same day. The dismissal was a result of a report received by the company, alleging improper operations in its international e-commerce logistics parcel business. Specifically, some employees were accused of manually altering delivery status codes to avoid penalties. The investigation revealed serious managerial and supervisory negligence at the senior levels.

      Regarding SingPost's service, many Singaporeans have expressed frustration. Issues include deliveries not being made to the door, parcels getting lost, and frequent delays. These concerns have contributed to the dissatisfaction among customers. In comparison to China's convenient logistics services provided by J&T EXPRESS-W (01519), SingPost's services are perceived as lacking.

      Looking ahead, investors are more focused on how SingPost can prevent such incidents from happening again, rather than on the immediate future of the company. The appointment and dismissal of the CEO have a significant impact on stock prices. For example, the stock price of Starbucks (SBUX) significantly rose after hiring the former CEO of Chipotle Mexican Grill (CMG). If SingPost can appoint a capable and reputable CEO, there is potential for the stock price to rebound.

      As for whether this round of dismissals will improve SingPost's business operations, it remains to be seen. The company has announced a strategic review and plans for future growth, which may provide a path towards improvement. However, it will require strong leadership and effective measures to regain customer trust and enhance service quality.

      Please note that investing in stocks involves risks and it is important to conduct thorough research and analysis before making any investment decisions. The information provided here is for reference purposes only and should not be construed as investment advice.

      Regarding the preference for postal service companies, it varies among individuals based on their personal experiences and needs.

  • Success88
    2024-12-30
    Success88
    I feel frustrated that those promoter will stand near the counter and promote with their investment products.
    It's was quite annoying when you rejected them they still come back and ask your why. Please come take a look. Give me 5 min of your time. Etc @MHh @SPOT_ON @SR050321 have you encountered before?
  • MHh
    2024-12-30
    MHh
    Not sure if this will improve Singapore post’s business operations. I’ve not used it for a very time. Nowadays, most things are online applications. I have not used it for any parcel delivery too. There are many other logistic companies out there too. Won’t buy the dip as I think it is a dying business. I have no preference for postal service company as many people have now gone online and companies have gone for e-notice to save the earth.
  • bernardtayet
    2024-12-30
    bernardtayet
    Most tends to see Sing post as a mail or letter delivery organisation.  This is its origin as a postal service. Today it is not. It offers services to e-commerce and related services. A new CEO and a team of new management staff may be able to develop new strategies and vision to transform the business, like Starbucks and locally like Comfort Delgro from a taxi company to an international transport entity. Sing Post may be a global logistics players with a new management team.

    I am optimistic about this organisation once a new CEO is hired to lead it with a new vision. Its share price will rise.

    Just a personal perspective only.  I may be proven wrong.

  • Star in the Sky
    01-03
    Star in the Sky
    Singpost needs to improve on the mail delivery service. Either my letter were sent to another unit in my block or I received others letter in my letter box.
    I'm not sure believe is due to the postman. Some of them don't understand English and having poor working attitude.
  • ECLC
    2024-12-31
    ECLC
    No idea if SingPost can rise from the ashes; not buying the stock but will use SingPost's services if need to.
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