Minority-investor action at Great Eastern, OCBC may spur expectations of value-unlocking initiatives
OCBC’s long-held narrative that ownership of Great Eastern is crucial to its strategy is likely to be challenged
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THIS column said in July last year that analysts and investors must be prepared to engage in the often difficult and disagreeable task of challenging long-held attitudes and ideas at some of Singapore’s most respected companies in order to unlock value and enliven the local market.
On Friday (Mar 1), a group of minority shareholders of Great Eastern kicked off a public campaign to get the board of the insurer to address the steep undervaluation of its shares in the market.
Led by a former remisier named Ong Chin Woo, the minority investors have put forward three resolutions to be tabled at Great Eastern’s upcoming annual general meeting (AGM).
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