May 20, 2016

    SingPost shares hit by Acra probe

    SINGAPORE Post shares fell as much as 3.5 per cent to a 21/2-month low yesterday after the company said the Accounting and Corporate Regulatory Authority (Acra) was starting investigations into possible breaches of the Companies Act.

    Acra had asked the company on Wednesday to furnish it with the special audit report, SingPost said, referring to a report that identified lapses in disclosures relating to certain acquisitions by the company.

    The company, whose biggest shareholders are Singapore Telecommunications and Alibaba, had released only a summary of the report to the public.