The war of the dual-class shares rages on in Singapore

Singapore

The battleground

ON one side of the battlefield, positioned on the lofty heights of moral superiority, the asset managers (and academics) lob propaganda leaflets pointing out their greater firepower in the form of smug principle and the dollar value of their total assets under management (AUM).

Their opponents are a motley crew. There are the Startup Upstarts, whose uniform is expensive sneakers and untidy man-buns. There are also venture capitalists doling out "series A" fundin…