Snuffing out the open flames of dissent at Asiatic

SINGAPORE (July 27): Tay Kah Chye, chairman of Asiatic Group (Holdings), wasted no time in addressing an issue that has plagued the company for the last couple of months when he kicked off its annual general meeting on July 26.

Tay remarked that matters “should be answered at the appropriate venue such as this AGM”, instead of being debated in public.

The remarks were clearly directed at Jerry Low, a shareholder of the company, who has been criticising Asiatic for its poor financial performance in open letters and blog posts since early May. Low has also raised questions about the performance of Asiatic’s power plants, the manner in which they were funded, and the high remuneration of the company’s directors

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