The current chairman of the new post, Simon Israel, will step down after the shareholders' meeting on July 23 and will be replaced by Zhang Ruilian. According to the annual report, Yisheng League received 288,600 yuan in director fees throughout...
The current chairman of the new post, Simon Israel, will step down after the shareholders' meeting on July 23 and will be replaced by Zhang Ruilian. According to the annual report, Yisheng League received 288,600 yuan in director fees throughout the year and declined a special allowance of 250,000 yuan.
The annual report disclosed that Yu Li's salary from April 1 to December 21 last year was between 250,000 yuan and 500,000 yuan; Ye Yanshan's personal salary was not listed, and only records a total of 950,000 yuan with the president Shahrin Abdol Salam who resigned in February this year.
Group emphasized that it is resetting its overall strategy and spending 30 million yuan to expand the regional e-commerce logistics hub, with the goal of tripling the average daily processing capacity to 400,000 pieces. Meanwhile, Xin Post is discussing with the government how to ensure the long-term financial sustainability of the local postal network.
Feng Xingwei, group chief financial officer Ye Yanshan and international business department CEO Yu Li were both removed from office on December 21 last year. The three were accused of having "major negligence" in handling internal whistleblowers' reports.
According to the company's annual report released on Tuesday (June 24), Feng Xingwei's salary includes a fixed salary of 576,000 yuan, a provident fund payment of 10,500 yuan, and other benefits of 35,200 yuan. The report did not specify whether it was paid in terms of term.
Although Xin Post recorded a net profit of 245.1 million yuan last year, the group's regular net profit still fell by 40% year-on-year. The operating profit of the postal and logistics business plummeted 55.5% to 7.4 million yuan in the second half of the year, and recorded a loss of about 500,000 yuan in the second quarter.
Former Singapore Post (SingPost) Group CEO Feng Xingwei received a salary of 616,400 yuan in fiscal year 2024/25, almost "halved" from 1.2 million yuan the previous year. In December last year, he was immediately dismissed for handling improper reports from the whistleblower. This is also the first annual report released by New Post since the turmoil at the top, disclosing the salary of the executives involved.
