Some examples include the outrage over the corruption probe at Keppel Corp spilled over from last Christmas into early 2018. Once-promising rail parts maker Midas Holdings got trapped in a freshly uncovered web of unauthorised loans in February. Cash-rich Datapulse Technology made a controversial haircare business acquisition in April, but now wants to reverse the deal. Under a new major shareholder, it wants to buy a hotel in Seoul, Korea.
SINGAPORE (Dec 28): When asked to describe the state of minority shareholder rights in 2018, market watchers gave mixed reactions. S Suressh, Eversheds Harry Elias partner, says it is stronger, but to corporate governance don Mak Yuen Teen, it is “horrible”. And some retail investors, like Teo Hee Huat, say they feel suffocated by the spate of corporate shenanigans.
But among the various parties The Edge Singapore spoke to, there was a general consensus: In 2018, mom-and-pop investors were more vocal with their grievances than before.
