Letter by unhappy shareholders may be an act of prejudice: S i2i

Singapore

DISSATISFIED with the pace at which mainboard-listed S i2i is working to get itself out of Singapore Exchange's (SGX) dreaded watch-list and fretful of time running out, a group of shareholders is lobbying for the firm's majority owner to launch a buyout or, alternatively, to wind down the business.

If the company has a "clear and cogent" plan to reboot itself and avoid being suspended or delisted - a penalty and "imminent danger" that await the firm should it fail to comply with the listing rules by stipulated deadline - this bunch of activists would like to hear them out too.

"This is not a hostile or confrontational act. We are benevolent shareholder activists who want to add pressure points to work together with the company to maximise shareholder va…