SingPost unaware of any information that might explain unusual trading activity

A SingPost branch at Raffles Place MRT.
A SingPost branch at Raffles Place MRT. PHOTO: ST FILE

SINGAPORE - Singapore Post said on Thursday (Jan 7) that it was not aware of any information not previously announced that might explain the unusual trading activity in its shares the previous day.

Its statement came in response to a query from the Singapore Exchange on Wednesday when SingPost shares fell 6.2 per cent or 10 Singapore cents to S$1.51, their lowest since last May. Some 31.4 million shares were traded, more than five times the volume of the previous day.

The company has hit the headlines recently, last month announcing it was appointing auditors to investigate concerns about its governance, the day after acknowledging that it had not properly disclosed a director's interest in a deal made in 2014.

This followed the surprise resignation of its group chief executive Wolfgang Baier, who oversaw the expansion of the company into businesses related to e-commerce.