Amara shareholders would have benefited from more detailed disclosures

Property developer and hotel group Amara Holdings has recently experienced a dwindling in its list of independent directors (IDs).

At Amara's annual general meeting (AGM) on Apr 26, a resolution to re-elect Tan Tiong Cheng as an ID was not passed because 110 million shares - representing 77.7 per cent of the shares voted that day - were against it.

At the same AGM, shareholders also shot down a resolution to grant directors the authority to issue shares under the Amara Performance Share Plan. For this resolution, 1.6 million shares voted against and 868,100 shares voted in favour.