Singapore
SOME 150 shareholders turned up at Raffles Education's annual general meeting (AGM) on Friday where the board was quizzed about controlling shareholder Chew Hua Seng wearing both the chairman and CEO's hats.
Hanging over the meeting too was a late call this week by tycoon and substantial shareholder Oei Hong Leong to replace chairman Chew, who is also the education group's controlling shareholder.
But despite repeated questioning from shareholders, Mr Chew would not be drawn into a direct response about the alleged conflict of interest during the AGM, saying that a separate extraordinary general meeting will have to be called to discuss the issue.
"It has to go through a voting process...
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