Wingtai Asia AGM

What a farce! Took the trouble to pop down to Raffles City to take a look, hoping to get some feeling about the management. All the chairman and the board was interested in was getting the stupid agm over. Nobody asked questions and the chairman sped through the proceedings finishing the agm in about 15 min. It is simply a farce, the board probably think all the shareholders attending are idiots simply there for the free food. The truth is that most are. For the first time today, I witnessed not only the usual mad rush for the buffet but also aunties taking plastic bags out to pack the food. There was even one with those fake $2000 handbags, taking out two plastic sheets and lining her bag, getting ready to put food there. Wingtai gave out some discount vouchers from their retail stores like adidas, g2000, topman, yoshinoya (but not uniqlo), but I wouldn’t want to waste my time again.

I have had a good impression of the company, with fairly well known names in their retail arm, and not too bad property. Perhaps it’s too much to expect them to be like Capitaland. Liew Mun Leong is very impressive and he bothers to address shareholders informing them of the company’s vision and outlook. Even if it is only PR, it still beats treating shareholders as free-loaders. On the other hand, there are these chinese companies who only do PR. I remember one where the chairman will say things like “shareholders, you are my boss!” But you know he doesn’t mean it.

~ by jtc2718 on October 25, 2010.