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Minority shareholders astir; time for independent directors to respond

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Published Wed, Mar 27, 2024 · 05:00 AM
    • The Japanese stock market is rising in value, partly thanks to a new emphasis on corporate governance.
    • The Japanese stock market is rising in value, partly thanks to a new emphasis on corporate governance. PHOTO: REUTERS

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    BEAUTY products seller Best World International is the latest addition to a growing list of Singapore Exchange-listed entities whose minority shareholders are agitating for change.

    Emboldened, perhaps, by the examples of others, and quite likely irritated by long-languishing valuations, Singapore’s minority shareholders are taking a stand.

    A group of shareholders on Mar 22 sent Best World a letter requisitioning an extraordinary general meeting (EGM) where they hope to remove three directors, get some accountability on director remuneration, and set in motion a plan for extracting more cash out of the company.

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