Today (18 April) has this headline: "Silence not golden for shareholders".
It says, "As the Commercial Affairs Department investigates corporate wrongdoing, silence prevails, leaving investors in the cold".
The CAD is investing Accord Customer Care Service and Citiraya. In both cases, shareholders have not been informed about the nature of the investigations. The uncertainty has dragged on for several weeks. It is not clear whether the company or CAD should be releasing updates.
My friend told me that, in the USA, they have a faster way to resolve these issues. Action is taken quickly, and the issue is settled within a short time. In some cases, the CEO gets replaced quite quickly. In other cases, the matter is settled.
I hope that the authority in Singapore can find a way to resolve these issues more promptly.
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