31-12-2024 (SINGAPORE) Former top executives at Singapore Post have mounted a robust defence of their actions following their controversial dismissal over a whistle-blower report, offering fresh insights into the timeline of events that led to their termination.
In a joint statement released on Sunday, former Group Chief Executive Vincent Phang and former Chief Financial Officer Vincent Yik challenged the narrative surrounding their dismissal on 21 December. The pair, along with International Business Unit CEO Li Yu, were terminated following allegations of mishandling a whistle-blower’s report concerning delivery failures.
The former executives maintain they were sidelined from the investigation process after the initial whistle-blowing report surfaced on 17 January, in accordance with company protocol. They claim their involvement was limited to providing input during two meetings in March and April, where they shared information based on their understanding at the time.
“The complete picture only emerged after the external forensics team concluded their investigation on 27 April,” the statement read. “Many of the problematic deliveries were associated with known challenging destinations, particularly conflict zones such as Israel.”
The controversy centres on allegations that staff manually entered false delivery failure codes for numerous parcels, potentially triggering contractual penalties. The executives argue they needed to establish the financial implications and determine staff culpability before approaching the affected customer.
The postal service provider’s board contends that despite having access to audit findings, the executives made unsubstantiated claims to the audit committee between 11 March and 3 April that contradicted internal investigators’ reports.
Following settlement with the customer, which reportedly had no material financial impact, the contract was renewed in August. However, a second phase of investigations into management’s handling of the whistle-blower report led to the dismissals.
All three executives have vehemently contested their termination. Phang and Yik denounced the decision as “without merit and procedurally unfair” in a statement on 23 December, while Yu announced his intention to “robustly defend” his position two days later.
The postal giant’s shares showed resilience amid the controversy, trading up nearly 2 per cent at 53 cents during midday trading on Sunday.
