SingPost

SingPost: Key changes of director's code and policies to boost corporate governance:
- Director tenure is now capped at nine years (Former chairman Lim Ho Kee and independent director Keith Tay, the man at the centre of a recent controversy, were on the board for 18 years)
- Board exco that was in charge of approving investments and divestments has been dissolved
- Nominations committee is now replaced by a “nominations & corporate governance committee” which will also oversee code of conduct
- Where directors may have actual or perceived conflict of interest, they must recuse themselves from discussions.

This is a step at the right direction. That said, investors should be open to the possibility of a new CEO doing a round of kitchen sinking.

MKE has Sell call on SingPost with TP of $1.29.