atans1

“Watchdog” barked without knowing the facts

In Corporate governance on 14/04/2011 at 9:04 am

 The president of the Securities Investors Association of Singapore has retracted his comments on Shanghai Asia Holdings’ (SAH’s) proposal to sell all of its businesses, which he earlier said was conducted in a manner that was unfair to minority shareholders.

He said his comments “were made without knowledge of the company’s announcement” last year, in which SAH stated that an extraordinary general meeting would be held for shareholders to raise questions, and vote on the deal. And that an independent financial adviser had been appointed to advise on the merits of the deal.

Oh dear,

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