Author: Mak Yuen Teen

This is fundamentally a case of a highly promising company which has taken on too much too quickly, without sufficient attention to proper risk management. It is as far as I can see not a case of egregious behaviour or outrageously bad governance – unlike Noble and some other companies.

At the end of the day, we should look at the message rather than the messenger, and if there is a proper basis for the message – whether we are talking about short sellers or analysts. Don’t shoot the messenger just because we do not like what he has to say.

Investor protection needs to be improved before confidence spirals downwards.

In my view, the real reasons for the lack of investor interest are the quality of companies listed and the lack of investor protection.

In my view, if an individual is considered by SGX to be unsuitable to be a director or executive officer of a listed company, that should be the end of the matter. It should not left to shareholders to decide whether to keep that individual. Wider public interest and the integrity of our market must come before the wishes of shareholders of a particular company.