Sino Grandness

[specuvestor]

Portuser

I am stating what i know has been the case. Long suffering shareholders of other listco denied of dividends would know what I'm talking about. The Creative Tech example shows this understanding from the company level as well. From the links it is obvious to me that definition of profit is open to interpretation and common law, which is obvious why MAS doesnt want to codify it. You are still insisting that it is binary. Just as the 90% CA rule is interpreted differently when majority shareholders use a new vehicle to takeover. Just because one company interprets it differently, like HLA with Yuchai, does not mean that is not the position of MOST other companies. It is permissible until someone challenges it to be defined. Thats how legal system works. Just like S377A of penal code. The world is not black and white, despite what many people are thought in schools.

But once it is codified there is no way around it, because the courts will enforce it as it is legislated. Then people say it is too top-down paternalistic. End of day its a balance. 中庸之道

It's perplexing why u guys keep asking this question. I am not paid on behalf of sinogrand shareholders to write-in to ACRA and SGX. Like i said i will write-in on my leisure time to satisfy my inquisitive nature and how they interpret S403 with respect to what the directors are doing (notwithstanding their ID is a corporate lawyer and much more knowledgeable than me) and what the auditors represented in AGM. In all bureaucratic nature SGX and ACRA may just cut and paste S403 rather than answer me directly or make a stance. Ive dealt with them before and people answering questions are noob, fresh out of schools. They may or may not take interest in sinogrand depending on what is on their file on the company and what they deem is important. They have no obligation or incentive to entertain me either. Thats how the real world works. I'm just an OPMI with little interest to spend money on lawyers to challenge this. For all I know maybe profit in a quarter is deemed as "profit" to be distributable as well, since it is also not stated clearly in S403

So i just do what a good corporate citizen do with information and they do what they deem a good governance should do, within their constraints. Thats why terror reports can go unnoticed, with little relevance whether it is true or untrue, because there's constraints in the real world. Thats how the system work.