It's either a soap opera or those investors really hate the Thai's family, or maybe both. Whenever those Thais appeared in the news, their counter plunged. They never learn to be humble.
If what Cecile mentioned is true, then we now know the true color of Stanley and his other board of directors. A company with lack of transparency and audit governance is bad. Their luxury lifestyles using company expenses is another RED flag.
-In her letter, Cecile detailed how these disagreements started in November 2021, a month before her father's appointment as the group's executive chairman took effect, when he stated his intention to remove her from the board following her opposition to his proposed purchase of a new aircraft for US$47.39 million (RM210.32 million). Stanley's stated intentions to remove and later re-designate me arose from the fact that I did not sign the director’s written resolution to approve the proposed acquisition of the new aircraft,” she said.
-Then in February last year, she expressed her view that the conferment of sole authority on Stanley as the single authorised person for the company's bank accounts was against the company’s financial accountability and corporate governance practices. My request that the audit committee hold a meeting and provide specific guidance was ignored.
-Cecile was then denied access to a remuneration committee meeting via a Zoom video conference in May 2022, despite being a member of the committee. Then the remuneration committee and nomination committee was suddenly merged in August 2022, while she was removed from the newly merged committee.
-She also claimed the board had tried to stop her from responding to a question posed by a shareholder during the group's annual general meeting in December last year. The shareholder had asked about the group's audited financial statements, specifically about the aircraft purchase. "The executive chairman and another member of the board initialy denied me the microphone despite my attempts to address the audience, and subsequently distracted (them) from the topic after I had transparently answered the inquiring shareholder," she said.
Cecile is a impatient lady. Sooner or later Stanley empire will pass to her since she is eldest. By speaking bad about the company and his dad, her days in supermax are number.
She so petty. Magnifying minor issues into so big to seek cheap publicity. Self-centred to think all Directors were wrong only she is right. Her immaturity making her failed to look at bigger picture. Problem of putting unqualified and unprofessional person based on relationships into the Board especially petty women.
She is definitely been mislead, misguided or brainwashed by devil friends due to her foolishness and immaturity. Narrow minded and petty person will harp on such minor issues and failed to think rationally.
No disrespect to anyone in this forum. But to buy another jet after buying one earlier is definitely EXCESSIVE SPENDING. How would having 2 jets benefit the co. Why do they need 2 jets. What is the ROI in buying 2 jets.
How can 1 have full authority over fin. Having only 1 signatory is having full power.
This is like a private co not public listed co
Where is the corporate governance ? Only Yes men & women on board to boss.
Keep spending less profit. Stk price can't go up. Shareholders lose out.
Looks like the only way out of this saga is to take her private at reasonable price. Only then, Stanley can do whatever he likes and wants without the public eyes scrutinies
Topglov biggest mistake was bought own share at high price. This is not because of integrity problem but the big boss too ego on own company's achievement. He still a human being.
Thats why raider says Harta & Kossan are the best pick in gloves as the owner acted prudently & rationally mah!
Posted by Bon888 > 14 minutes ago | Report Abuse
Topglov biggest mistake was bought own share at high price. This is not because of integrity problem but the big boss too ego on own company's achievement. He still a human being.
Posted by stockraider > 33 minutes ago | Report Abuse
Sell lah! Switch to Harta or Kossan mah! What the heck of Supermax buying another airplane after 1 yr leh ?
Something gravely rotten...won't be surprised if institutional buyers especially the foreign funds start dumpng the stock...slowly but surely...for most if not all foreign fund managers are sensitive to lack of good governance and transparency... BODs especially of public listed companies have fiduciary duty towards their shareholders.
This BOD won't share the cash pile earned during Covid. They will spent it for own pleasures. Slowly but surely all cash gone and continue stay as penny stock.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Hwai Hooi
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Posted by Hwai Hooi > 2023-04-17 15:54 | Report Abuse
give trap who morning