Minority shareholders astir; time for independent directors to respond

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.