The Business Times
business-time-50
MARK TO MARKET

Investor activism may be key to reviving market

Forget about independent financial advisers and independent directors – a dose of aggressive shareholder activism might be the answer to lowball offers

google-preferred-sourceAdd BT as a preferred source
Ben Paul

Ben Paul

Published Mon, Jun 26, 2023 · 05:00 AM
    • Sias lamented in a March commentary that the "ridiculous lowball" offers foment investor resentment and mistrust in the local market.
    • Sias lamented in a March commentary that the "ridiculous lowball" offers foment investor resentment and mistrust in the local market. PHOTO: BT FILE

    THE independent financial adviser (IFA) on the delisting of Golden Energy and Resources (Gear) issued a press release last month to “categorically refute” this column’s assertion that its opinion on the deal was faulty.

    It should not have bothered. The press release essentially reiterated what had already been said in Gear’s circular to its shareholders.

    More importantly, the delisting proposal – which the IFA had said was fair and reasonable – received 99.9 per cent support when it was eventually put before minority shareholders of Gear at an extraordinary general meeting (EGM) on Jun 9.

    BT CorrespondentsShareholder activismPrivatisationSabana ReitGolden Energy & ResOCBCGreat Easternboustead projectsboustead singaporettj holdingsQuarz Capital

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The exterior (left) and interior (right) views of Waterwall House, featuring glass interfaces, open voids, split levels and raw concrete walls.

    Rare brutalist Singapore house opens to the public before changing hands

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More