Dear readers and fellow bloggers,
Behappyalways from valuebuddies is trying to rally support from shareholders to send an letter to management of SingHoldings, asking for fairer treatment of minority owners
Below is a template of letter:
6 March 2014
Sing Holdings Limited
96 Robinson Road
#10-01 SIF Building
Dear Board of Directors and Mr Lee
We are a group of shareholders writing in to express our concern with the share performance of Sing Holdings for the past few years. We are disappointed with the Board and Management inaction towards the under performance of the share price. Shareholders' call for a share buy-back has been resisted by the Board and Management as you feel that cash could be better utilised. But after so many years, we do not feel that we had benefitted from the growth of the company as much as the management. A bonus warrants for example can be issued, rewarding shareholders while preserving cash.
A share buy back mandate and when exercised would send a STRONG signal that the share price is undervalued and that the Board and Management support and share the minority shareholders' concern. With the current bearish property market sentiment, we feel that there is no better use of funds than to buy one's own undervalued shares. Therefore we strongly recommend a share buy back exercise.
With positive net current assets and receivables due from The Laurels Project, we hope you would seriously consider a sizeable dividend payout to reward shareholders' trust in the Board and Management over the past few years.
We deeply appreciate your time and effort in considering these suggestions.
Shareholder A's name
Shareholder B's name
Shareholder E's name
There are 3 things I hope to achieve.
1) If any shareholders of SIng Holdings have not heard about this movement, you can consider supporting this, they have already email the management yesterday and today. the details can be found in http://www.valuebuddies.com/thread-23-page-102.html
2) Financial bloggers, if you find this movement meaningful, I think the retail investors are taken for granted in Singapore, and if you followed the thread, I do not think the retail investors are being unreasonable, you can forward or perhaps post this blog too.
3) I am showing support. Hope you will too...