Eight other companies found to have tweaked their charters to allow dual-class shares

Singapore

IT would seem that Chew's Group was just following the example of other Singapore listed companies when it attempted to amend its constitution this month to permit itself to issue dual-class shares (DCS).

The Business Times has learned that a sizeable number of other listed companies have successfully amended their constitutions, empowering themselves with the ability to issue shares with varied voting rights - despite the fact that such share structures have not yet been given the go-ahead by the Singapore Exchange (SGX).

Chew Yi Hong, a Chew's Group shareholder (who is unrelated to the company), learnt at the company's extraordinary general meeting on Wednesday that Chew's Group was not the first to propose such an amendment. Mr Chew, an active investor who has wor…