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PR Newswire
04-02-2015, 10:43 AM
It is a good news to local market. It is beneficial to the activist fund, to OPMI, and as well as SGX, IMO...
New Singapore activist hedge fund seeks to shake up companies
SINGAPORE (Feb 4): Roland Thng is seeking to shake up Singapore’s staid corporate landscape, setting up a new hedge fund focused exclusively on influencing the way locally listed companies are run.
The 33-year-old has established EVA Capital SP with US$5 million, and initially plans to take stakes in small-and medium-sized construction and engineering companies in order to pressure them to improve performance.
“It’s a new approach and the market will need some time to get used to it,” Thng, who is chief executive officer of Singapore-based fund-management firm Dektos Investment Corp, which runs EVA Capital, said in an interview.
“Activist investing is a bit offensive in the Singapore and Asian context.”
Many Singapore companies have a controlling shareholder, which makes it easier to resist demands from activist investors, said Hugh Young, the Asia managing director at Aberdeen Asset Management in Singapore.
“It also isn’t the cultural norm,” Young said. “It’s all more consensual in Asia, less confrontational. Things have been done a lot more quietly, behind closed doors.”
...
http://www.theedgemarkets.com/sg/article...-companies
New Singapore activist hedge fund seeks to shake up companies
SINGAPORE (Feb 4): Roland Thng is seeking to shake up Singapore’s staid corporate landscape, setting up a new hedge fund focused exclusively on influencing the way locally listed companies are run.
The 33-year-old has established EVA Capital SP with US$5 million, and initially plans to take stakes in small-and medium-sized construction and engineering companies in order to pressure them to improve performance.
“It’s a new approach and the market will need some time to get used to it,” Thng, who is chief executive officer of Singapore-based fund-management firm Dektos Investment Corp, which runs EVA Capital, said in an interview.
“Activist investing is a bit offensive in the Singapore and Asian context.”
Many Singapore companies have a controlling shareholder, which makes it easier to resist demands from activist investors, said Hugh Young, the Asia managing director at Aberdeen Asset Management in Singapore.
“It also isn’t the cultural norm,” Young said. “It’s all more consensual in Asia, less confrontational. Things have been done a lot more quietly, behind closed doors.”
...
http://www.theedgemarkets.com/sg/article...-companies
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