Sing Holdings

[Behappyalways]

a few years back I was in the AGM telling the mgmt. to do a share buyback. Let's say if they will do it now at $400 they can cancel off 1000 shares worth $560 in net book value although worth more in NAV. With just 1 click the company stands to gain $160 ($560-$400) or a return of 40% (160/400). Not only that the NTA will increase, ROE will increase and share price will also increase. But the mgmt refuse to listen. Sighhhh. Now you have almost $100m cash doing nothing and almost like a sitting duck.....

Last year the company's adm fee including bonus is about $7.1m. Let's said if the both Lees got a total bonus of $4m and if you take Lee's stake in the company which is about 150m shares. That is about almost 3 cents per share.......

So minority share holders got 1.6 cents....Lee got 4.5 cents if inclusive of bonus.....although people might disagree with my method of calculation.....

Hence share price performance is not important....most impt is bonus ......this is the real world