Category: Letters

Changing the way independent directors are appointed (and removed) will, in our view, help strengthen investors’ confidence in independent directors.

Regulators should look into the circumstances of such cases of directors directing whilst disqualified.

Note: Over the years, I have written many times on the subject of bribery and corruption risks for Singapore companies doing business overseas. In light of the recent US$422 million fine imposed on Keppel O&M, I have decided...

Singapore companies that do business overseas need to take a good hard look at their compliance programmes, strategies, incentive systems and business practices and adopt a more measured approach when responding to bribery allegations.

How can directors be considered independent if their appointments are so closely linked to a controlling shareholder such that they resign as soon as there is a change in controlling shareholder? How can independent directors be considered independent when they are clearly appointed by the controlling shareholder?

YuuZoo COO’s long letter on my October 6 article in Business Times totally ignores much of the crux of that article which was about its response to SGX queries regarding its (restated) Q1 2017 and Q2 2017 results and the incorporation of YuuLog Europe.

There is much in Thio Shen Yi’s article Time to open the gates for shareholder activism?, (BT, Sept 1) that I agree with. Indeed, there is a need for Singapore to provide shareholders with better access to justice. Despite the Companies Act now allowing shareholders of public-listed companies to initiate statutory derivative action against directors, there remain significant barriers to shareholder enforcement here, as Mr Thio has pointed out.

THE report “Natural Cool board ouster leaves doubts over stake divestment” (BT, Feb 10) made reference to questions that I posed as a shareholder at the extraordinary general meeting (EGM) of Natural Cool Holdings held on Feb 8.

I refer to the executive summary of the special audit report released by Singapore Post (SingPost). The special auditors did a professional job but may have been hampered by certain limitations in their work.

RECENT announcements about board changes at Singapore Post (SingPost) have given me hope that the company will transform its board just as it is transforming its business.

I REFER to the announcement, “Update on special audit and corporate governance review” by Singapore Post (SingPost) on Jan 19.

The headline for the article “Focus on quarterly earnings contrary to long-term value creation: BlackRock CEO” (BT, Feb 3) may give the impression that a major asset manager is opposed to quarterly financial reporting.