Singapore Post - OCBC Investment 2016-04-04: Chairman to step down; Trikomsel JV to be dissolved

Singapore Post - OCBC Investment 2016-04-04:  Chairman to step down; Trikomsel JV to be dissolved SINGAPORE POST LIMITED S08.SI 

Singapore Post: Chairman to step down; Trikomsel JV to be dissolved 

  • Singapore Post (SingPost) announced that its Chairman, Mr. Lim Ho Kee, will step down on 10 May 2016 when the group’s full year results are expected to be announced. Mr. Lim will also step down as a director at the AGM to be held in Jul 2016. 
  • Meanwhile, the board has unanimously agreed to appoint board member Prof Low Teck Seng as Chairman from 10 May, subject to regulatory approval. 
  • In a separate announcement, SingPost also said that a planned JV with Indonesian mobile phone retailer Trikomsel had been called off; the JV was incorporated in Aug 2015 and has been dormant ever since. 
  • Maintain HOLD with S$1.37 fair value estimate on SingPost.



Carmen Lee OCBC Securities | http://www.ocbcresearch.com/ 2016-04-04
OCBC Securities SGX Stock Analyst Report HOLD Maintain HOLD 1.37 Same 1.37


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