Hi Guys,
As of today we have 42 minority shareholders who share our concern about the share performance of Sing Holdings. I believe that there are many more out there who are concern about for some reasons or another they decide not to put their names to express their concern. Some might have given out and sold out their Sing Holdings shares in disgust. For those shareholders who did not put up their names but share our concern, you can send your 'letter of concern' to the company using our draft or write a personal letter to the company. Please come forward.
Most of the 42 shareholders who sign up do not know one another. We have not met face to face in real life and that we do not know each other's name. This is entirely SPONTANEOUS. Some of us, me for example have written to the company to express my concern but they somehow do not seem to listen. Maybe the company feels that most other shareholders are happy with the company and that our individual email to the company does not reflect the minority shareholders. Let this be a WAKE UP CALL to the Board of Directors and Management. It is time to pay attention and LISTEN to minority shareholders even though their holdings in the company might not be significant but they are still SHAREHOLDERS.
Below is a draft copy of the letter. Some of you might feel that bonus warrants is not appropriate hence it is ok to take out that sentence if one is uncomfortable. You might also want to make some changes. It is ok for the main point of the letter is that we are concern with the share performance after ALL THESE YEARS and please LISTEN and DO SOMETHING ABOUT IT. Tools and avenues like share buyback for example are available to bring value to shareholders. PLEASE USE THEM.
Let's email the letter with our names TONIGHT or TOMORROW morning so that the company can receive our emails by tomorrow latest. For those shareholders who share our 'concern' but could not send the email on time. Please join us by writing to the company for everyone COUNTS. I have the CFO's email address but I feel that it is more appropriate to forward our emails to the company's main site so that they can refer our concern to the appropriate person. The email address is enquiries@singholdings.com
or you can visit the website to get the email address.
http://singholdings.com/contact-us.html
Thanks all, you guys are GREAT
6 March 2014
Sing Holdings Limited
96 Robinson Road
#10-01 SIF Building
Singapore 068899
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.
Thank You.
Yours Sincerely
Shareholder A's name
Shareholder B's name
.....
.....
Shareholder E's name
