Dual-class shares: Commercial viability shouldn't be equated with corporate governance

I REFER to the BT article, The war of the dual-class shares rages on in Singapore, by Stefanie Yuen-Thio on May 10, 2017.

While Mrs Thio did not indicate her preference on whether she supports the proposed dual-class shares (DCS) implementation, it appears she might have an unfettered inclination towards DCS, given the strong undertone of her arguments. For a start, Mrs Thio identified the opponents of DCS as being "positioned on the lofty heights of moral superiority", while suggesting that the proponents are "a motley crew" facing "a steep uphill charge" against "kiasu Singapore where 'don't rock the boat' is an operating principle". From a pure argumentative standpoint, I believe it is neither fair nor objective to suggest from the onset that opponents are operating under the bias of not "rocking the boat".

Mrs Thio argued that we are operating in a global market where DCS are a common feature in companies listed in the US, and suggested that the question facing us is whether we want to lose our homegrown success stories to a foreign exchange if the Singapore Exchange (SGX) does not permit DCS structures on its board. To support her views, Mrs Thio cited history being full of examples of companies mismanaged without the help of DCS.