SIAS does not pick sides when calling for higher offer

WE refer to the article "SIAS should be more careful before picking sides" by Kenneth Lim (BT, Oct 4).

In respect of takeovers, the role of SIAS is to support the interests of minority shareholders. We do this also to ensure a level playing field between large corporates and less sophisticated investors and minority shareholders, especially for valuation issues. We carefully study the offer and the opinion of the IFA (independent financial adviser) to provide guidance if the minority shareholders so need it.

The writer has given the impression that SIAS is not mindful of the rights of the offeror's shareholders when requesting for a review upwards. What the writer has not highlighted is that it is the role of the board and the senior management to ensure that whatever offer is made, it is in the best interests of the company and its shareholders.