Responding via an open letter on August 4, Teckwah's chairman and managing director Thomas Chua Kee Seng (picture) defended the company's decision to maintain its current dividend payout in line with the group’s long-term interests.
Teckwah Industrial Corporation has responded to substantial shareholder Quarz Capital Management’s suggestion that Teckwah can raise its payout ratio and dividends to 80% and 3.15 cents respectively in an open letter dated July 28.
