Boustead Singapore

Of all the companies I have owned, and all the management I have known and assessed, FF Wong is the most honest, reputable and direct.
His track record speaks for himself.

The main risk for Boustead is the day he decides to call it quits.
It's usually very hard to replace such a key man.

Reading through 2016 AR of Boustead (BL) & Singapore Shipping (SSC), I can't help but to notice the following similarities:
1. Both are focusing on Cashflow and not mere top & bottom lines.
2. Both are steering in rough environments/industries.
3. Both are keeping their powders dry and hunting for opportunities.
4. Both are having AGM at the same day and same place (last year as well).
5. Both are passing baton to next generation.
The difference is that SSC was more decisive in term of acquisition and succession while BL is more conservative.

Just my observations.
<vested, both my core>

> , I can't help but to notice the following similarities:
1. Both are focusing on Cashflow and not mere top & bottom lines.
2. Both are steering in rough environments/industries.
3. Both are keeping their powders dry and hunting for opportunities.
4. Both are having AGM at the same day and same place (last year as well).
5. Both are passing baton to next generation.

The difference is that SSC was more decisive in term of acquisition and succession while BL is more conservative.

The only difference is that FF Wong is more open in disclosure when asked questions than tycoon Ow Chio Kiat :-)

(13-07-2016, 10:10 AM)Contrarian Wrote: > , I can't help but to notice the following similarities:
1. Both are focusing on Cashflow and not mere top & bottom lines.
2. Both are steering in rough environments/industries.
3. Both are keeping their powders dry and hunting for opportunities.
4. Both are having AGM at the same day and same place (last year as well).
5. Both are passing baton to next generation.

The difference is that SSC was more decisive in term of acquisition and succession while BL is more conservative.

The only difference is that FF Wong is more open in disclosure when asked questions than tycoon Ow Chio Kiat :-)

It's a matter of personal temperament/style. As much as i prefer FF Wong's self depreciating style, i appreciate OCK no non-sense style as well.

IMHO, Ock style might be helping in SSC decisive acquisition.

<vested in both and hence biased>

Any buddies who attended AGM and kind enough to share findings?

I was surprised to see that wff's reappointment as director was voted 37% against. Anyone has any insights?

(29-07-2016, 02:05 PM)valueguy Wrote: Any buddies who attended AGM and kind enough to share findings?

I was surprised to see that wff's reappointment as director was voted 37% against. Anyone has any insights?

That's really the surprise of the day.
We have to wonder how that percentage came about!? I am not sure. Some ssh unhappy with him? Or his 30% shares somehow counted as against instead of abstaint?

Anybody guess! It's unfair shockening vote for the steady captain of the ship in wicked storm.

(29-07-2016, 02:05 PM)valueguy Wrote: Any buddies who attended AGM and kind enough to share findings?

I was surprised to see that wff's reappointment as director was voted 37% against. Anyone has any insights?

oh my
Did that really happen?

How about the other directors?
If FF Wong can have 37% "nay" votes, I think all the other CEOs and MDs of other companies should be out of a job.
It def must be some SSH voting against, or else it's an error. I can't imagine minority SHs voting against

(29-07-2016, 05:14 PM)TTTI Wrote:

(29-07-2016, 02:05 PM)valueguy Wrote: Any buddies who attended AGM and kind enough to share findings?

I was surprised to see that wff's reappointment as director was voted 37% against. Anyone has any insights?

oh my
Did that really happen?

How about the other directors?
If FF Wong can have 37% "nay" votes, I think all the other CEOs and MDs of other companies should be out of a job.
It def must be some SSH voting against, or else it's an error. I can't imagine minority SHs voting against

He's shocked (or rather, dissappointed) more than anyone.
People tire of him not doing anything about the cash hoard?

Paradoxically, in hindsight, he has in fact added more value by sitting on his hands.

<vested>

(29-07-2016, 05:14 PM)TTTI Wrote:

(29-07-2016, 02:05 PM)valueguy Wrote: Any buddies who attended AGM and kind enough to share findings?

I was surprised to see that wff's reappointment as director was voted 37% against. Anyone has any insights?

oh my
Did that really happen?

How about the other directors?
If FF Wong can have 37% "nay" votes, I think all the other CEOs and MDs of other companies should be out of a job.
It def must be some SSH voting against, or else it's an error. I can't imagine minority SHs voting against

[Image: bousteadsg_reso.png]

(29-07-2016, 05:22 PM)cyclone Wrote:

(29-07-2016, 05:14 PM)TTTI Wrote:

(29-07-2016, 02:05 PM)valueguy Wrote: Any buddies who attended AGM and kind enough to share findings?

I was surprised to see that wff's reappointment as director was voted 37% against. Anyone has any insights?

oh my
Did that really happen?

How about the other directors?
If FF Wong can have 37% "nay" votes, I think all the other CEOs and MDs of other companies should be out of a job.
It def must be some SSH voting against, or else it's an error. I can't imagine minority SHs voting against

[Image: bousteadsg_reso.png]

Thanks cyclone.

Just a quick question to confirm my thoughts here:
If I did not submit my form, it means automatically FF Wong becomes my proxy and he can choose to vote for me right?
So in this case, did he refrain from voting himself? (Both his personal stake, and as a proxy)