Author: Mak Yuen Teen

A new report by Associate Professor Mak Yuen Teen of NUS Business School, a corporate governance advocate, and Mr Chew Yi Hong, an MBA graduate from London Business School and active investor, has revealed a number of new findings relating to general meetings of shareholders of SGX-listed issuers. It has found a number of good practices, but also areas with significant room for improvement.

ON March 2, Sino Construction’s share price closed about 15 cents down from its previous trading day’s closing price of 26.5 cents on Feb 27 – a fall of 55.8 per cent. The following day, its share price halved again to close at six cents. By March 9, its share price had fallen to 5.4 cents – a total fall of about 80 per cent over just six trading days.

ON NOV 6, 2014, news broke about an alleged fraud and risk-management failure at Dynamic
Oil Trading (DOT), one of the two Singapore subsidiaries of OW Bunker A/S, a Danish global
marine fuel logistics company which listed on the Nasdaq OMX Copenhagen on March 28 last
year.

IN the letter “Shareholder nod not needed in Keppel Corp bid: SGX” (BT, Jan 31), Singapore Exchange clarified that it has not granted any rule exemption for Keppel Corporation Limited (KCL) to acquire the shares in Keppel Land Limited (KLL) that it does not already own.

ON SEPT 17, 2014, the Singapore Exchange (SGX) issued a consultation paper with details of proposed measures and rule amendments to reinforce the SGX listings and enforcement framework.