SUBSCRIBERS

VibroPower founder rebuts shareholder's claims

Founder Benedict Chen says generators business is very competitive and margins thin, in response to shareholder Alex Chng, who is seeking to oust him at EGM on Nov 9

Published Sun, Oct 25, 2020 · 09:50 PM

vibropower

Singapore

VIBROPOWER Corporation already supplies power generators to quarters in the real estate sector and competition is intense while margins are thin, the company's founder Benedict Chen has said, firing back at claims by a shareholder looking to oust him.

The shareholder is Alex Chng who, together with his cousin Lim Eng Tiong, is looking to boot out all of VibroPower's three directors, including Mr Chen, and appoint himself and two others to the board at an extraordinary general meeting (EGM) on Nov 9.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes