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#1
10-08-2013, 04:00 AM
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SinkPost fined token sum for late delivery of 40,000 letters
An honorable member of the Coffee Shop Has Just Posted the Following:
SingPost fined $10K for late delivery of 40,000 letters   August 9th, 2013 |  Author: Editorial  The Infocomm Development Authority (IDA) has slapped a $10,000 penalty on SingPost for failure to deliver about 40,000 letters on time in February this year.IDA found that SingPost did not deliver the local letters by the second working day, according to the postal framework. This is SingPost’s largest fine and its first since stricter penalties kicked in last July. IDA said SingPost had failed to explain the cause of the delivery lapse. A SingPost spokesman would only say that it only fell a “fraction” short on one of the seven quality of service standards imposed by IDA. SingPost’s compliance is determined by a sample-letter test conducted monthly by an independent third party. Before July last year, the test was done in-house by SingPost itself. There has been a rise in the number of complaints about lost or wrongly delivered mail by the public. This April, a women’s fashion boutique owner, Ms Lee Qianni, complained that SingPost misdelivered a 30kg parcel of mechandise worth almost $5,000 to her competitor’s shop instead of to her at Far East Plaza (‘SingPost delivers $5K worth of parcel to wrong party‘). The competitor who signed for the parcel by mistake had sold off some of the mechandise by the time the mistake was discovered. The deliveryman from SingPost’s third-party service partner Riverwood accidentally went to the wrong floor. When SingPost was alerted to the blunder, it offered Ms Lee $20 worth of vouchers as “goodwill”. Understandably, Ms Lee was offended by the gesture. SingPost is currently run by a foreign talent, Dr Wolfgang Baier. He was appointed Group CEO and Board Director on 5 October 2011. Before joining SingPost, he was with McKinsey Consulting, helping SingPost to restructure its operations. Somehow, he ended up from consulting for SingPost to becoming its CEO. According to BusinessWeek data, his total compensation package is $1,668,300 for FY2013 [Link]. SingPost’s revenue was about $700 million in its latest fiscal year ending 31 March. Its market capitalization is $2.5 billion. Click here to view the whole thread at www.sammyboy.com. 
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