Minority-investor action at Great Eastern, OCBC may spur expectations of value-unlocking initiatives

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).