Press Releases

SIAS’ Reply to GEAR Limited’s Announcement Dated 31st May 2023

June 5, 2023

Dear Mr Fuganto Widjaja and Members of the Board, SIAS refers to the Golden Energy and Resources (GEAR) Limited's announcement dated 31 May 2023 which the company noted that "inaccuracies and omissions in the SIAS Letter that need further explanation". First of...

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SIAS calls on minority shareholders of GEAR to reject the 2nd offer

May 30, 2023

Dear Mr Fuganto Widjaja and Members of the Board, SIAS published an appeal to Golden Energy and Resources (GEAR) Limited on its exit offer on 1 March 2023, urging the company to improve its exit offer as GEAR seeks to carry...

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Letter to ASTI Holdings Limited on Concerns of ASTI Shareholders

May 26, 2023

Chairman & Members of the Board ASTI Holdings Limited Dear Chairman, RE: Concerns of ASTI Shareholders SIAS has received feedback from ASTI shareholders. Based on their concerns, we have, therefore, prepared the following questions: On the conduct of AGM for FY2021 The company last held an...

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Press Statement – Global Palm Resources Offer: Too Low & Unfair to Minorities

May 8, 2023

The Securities Investors Association (SIAS) calls upon minority shareholders of Global Palm Resources (GPR) to reject the privatisation offer of S$0.25 per share and for the offeror to revise the price upward. Although the offer has been deemed “fair and reasonable’’...

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Press Statement: Comments on SGX RegCo column on shareholder-requisitioned meetings

April 27, 2023

We refer to the regulatory column by SGX RegCo issued today. “It is correct to say that the mechanisms relating to Requisitioned Meetings are typically contained in the relevant law governing the issuer’s Constitution or incorporation. The relevant provisions in Singapore...

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Appeal Letter to Lian Beng for Fair and Reasonable Offer Price

April 25, 2023

To Chairman & Managing Director Board of Directors Lian Beng Group Ltd   Dear Chairman, Mr Ong Pang Aik I am writing to you on behalf of minority shareholders of your company to appeal for a better offer price than the S$0.62 that is currently being...

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Press Statement – Boustead Offer: SIAS Calls On Shareholders To Reject the Offer

March 13, 2023

SIAS calls on the shareholders of Boustead Projects Limited to reject and not accept the voluntary unconditional cash offer by Boustead Singapore Limited. As the IFA opinion is that the offer is ‘not fair but reasonable’, shareholders should demand that...

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Press Statement: SIAS Meeting With Golden Energy And Resources Officials

March 9, 2023

SIAS is pleased to update that Mr Mark Zhou, Executive Director of Golden Energy and Resources Limited (GEAR), and senior management of the Company have reached out to SIAS to update and clarify matters relating to GEAR’s recently announced proposed...

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Appeal to Golden Energy and Resources Limited for Review of Offer

March 1, 2023

To: Chairman & Board of Directors Golden Energy and Resources Limited cc: Mr Dwi Prasetyo Suseno, Executive Director, Group CEO Ms June Sim, SGX RegCo Mr KK Lai, Investor Relations (WeR1 Consultants) Dear Chairman, Appeal for Review of Offer The bid to take Golden Energy and Resources (GEAR)...

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Appeal Letter to Boustead Singapore for Fairer Offer

February 16, 2023

Chairman & Board of Directors, Boustead Singapore Through: Mr Keith Chu, Senior Vice President, Corporate Marketing & Investor Relations RE: Appeal for Fairer Offer Dear Chairman & Board of Directors, Earlier this month Boustead Singapore announced a plan to take its 54.9%-owned subsidiary Boustead Projects private...

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