SIAS should be more careful before picking sides

AS Singapore's leading voice for all minority shareholders, the Securities Investors Association (Singapore), or SIAS, should tread carefully when getting involved in ongoing general offers.

SIAS has been an outstanding champion for minority shareholders in Singapore, and its best work has been done when standing up for minority shareholders who are oppressed or who struggle with poor corporate governance and other improprieties.

But in some recent cases, SIAS has also stepped into the fray in instances where the only issue appeared to be that a general offer was deemed to be too low. In such cases,…