SingPost unveils ethics and business code in wake of corporate governance lapses, Business News & Top Stories – The Straits Times

Singapore Post on Thursday introduced a code of business conduct and ethics for its board directors in the wake of a special audit that found corporate governance lapses at the firm.The company said it had also established new policies governing directors’ conflicts of interest, and Board renewal and tenure. The code and policies are intended to strengthen the corporate governance foundation of the company….SingPost has seen a succession of resignations, including chief executive Wolfgang Baier who quit last December. Drew & Napier and PricewaterhouseCoopers were appointed by SingPost to carry out a special audit after it emerged that board member Keith Tay was a shareholder and chairman of the financial adviser to three freight forwarders the postal-services provider bought in 2013, 2014 and 2015….[The revised code] contains enhanced directives on identifying and disclosing conflicts of interest; maintaining confidentiality; compliance with laws, rules and regulations; fair dealing; and setting a framework for reporting illegal and unethical behaviour.

Source: SingPost unveils ethics and business code in wake of corporate governance lapses, Business News & Top Stories – The Straits Times

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