Straits Trading intends to create value for all shareholders
WE refer to The Business Times' Hock Lock Siew column on Sept 30, 2021 (Straits Trading shareholders' club a commendable initiative but it should re-think co-investment plan).
We thank Ben Paul for his kind commendation and valid concerns. We wish to clarify as follows:
Firstly, no shareholders - active or passive, big or small - will be disadvantaged. Any information, offer and announcements will be disclosed on the company's website, which is accessible by the public too. Shareholders will be encouraged to register with the Shareholders' Club. In particular, those with shares held in CDP and nominee accounts. As an example, the ubiquitous alumni associations of schools and colleges do not have every alumnus signing-up. Registration will ensure engagement and activities are targeted and cost-efficient. Furthermore, the legal obstacles of personal data protection, spamming and scamming necessitate a dedicated platform for operations.
Secondly, Straits 5.0 encapsulates the company's key milestones from 1880s to 2020s. One of the stated goals in the current decade, as reflected in Straits 5.0, is to create investment opportunities to broaden our investor base. Our own shareholders must have priority. Neither does the plan discriminate against any shareholders. We recognise the investment needs of both accredited investors (AI) and non-AI. Post-pandemic, we plan to enhance value for all shareholders as we have done amid the pandemic.
Lastly, the prevailing strict rules by the authorities governing AI and investments, including real estate, are meant to protect all-investors. If future investment opportunities are allowed by the authorities, we hope our shareholders would have gained investment knowledge and/or experience through our enhanced engagement.
We thank Mr Paul for his suggestions too. Given the above considerations, we assure our shareholders that Straits Trading is steadfast, as we have been in our 134-year journey, in creating shareholder value for all.
Eric Teng The Straits Trading Company Limited
