SINGAPORE: Singapore Post will not be publishing the findings of an internal investigation into whistleblowing reports, the company said in a Singapore Exchange (SGX) filing late Sunday night (Dec 29).
It announced on Dec 22 the termination of the employment of its group chief executive officer Vincent Phang, group chief financial officer Vincent Yik and chief executive of the company’s international business unit Li Yu over the mishandling of the whistleblowing reports.
Three other managers who were directly involved in the matter were also sacked after an internal investigation and a police report was made against them.
In response to a question from the Securities Investors Association (SIAS) as to whether it will publish the key findings of the internal investigation report, SingPost pointed to the announcements it made on SGX on Dec 22 and late Sunday night.
“Both announcements disclose that the eventual settlement with the affected customer has no material financial impact on the group.
“The company will make further announcements as and when there are material developments,” it added.
WHAT HAPPENED
A whistleblower report was filed earlier this year about the group’s non-regulated international e-commerce logistics parcel business.
The report alleged that there were manual entries of certain delivery status codes by SingPost’s international business unit. These were for international transhipment parcels which the company had agreed to deliver under an agreement with one of its largest customers.
These manual entries were allegedly done without basis or supporting documentation and with the intention of avoiding contractual penalties under the agreement.
Following an investigation, disciplinary proceedings were brought against three managers who were directly involved in the matter. It was found they had committed serious breaches of the company’s code of conduct, SingPost said.
The managers were found to have performed or approved manual “delivery failure” status codes for parcels, even though no delivery attempt had been made and without supporting documents.
They have been sacked and a police report made against them.
Mr Phang, Mr Yik and Mr Li were found to be “grossly negligent” in their handling of the internal investigations into the whistleblowing report.
They had “accorded undue weight” to the misrepresentations by representatives from the international business unit operations.
