Sunright's test of new ID rule vexes minorities
Minority shareholders voted against reappointing long-serving Francis Lee as independent director, but firm insists on keeping him by redesignating his role
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Anita Gabriel
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SUNRIGHT, a mainboard-listed semiconductor firm with a market value of some S$47 million, remarkably failed to read the ground at its annual general meeting (AGM) on Monday.
Francis Lee, one of two long-serving independent directors (IDs), did not pass the two-tier vote for his continued appointment as an ID.
But Sunright, a manufacturer of burn-in equipment and provider of semiconductor test and burn-in services, was still insistent on having Mr Lee as director.
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