However, all this basic yet material information was glaringly missing from the company's disclosure on July 1. Yet, it advised in the same filing that shareholders and investors exercise caution when dealing in AGV shares.
When a company drip-feeds bad press, it is placed on the defensive and appears indecisive and not in control of the agenda. Announcing a bit of bad news one week, and a bit more the week after, gives the impression that the management is floundering, the book added. Authors of the book entitled The Practitioner's Guide to Global Investigations wrote that, where getting the information out early is possible, the company can effectively take the wind out of the sails of the speculation by preventing the drip-feeding of details over an extended period and also shortening the period of negative media focus.
The company had re-appointed executive director Joseph Liew just two days after he had failed to secure a re-election at the annual general meeting . Furthermore, shareholders at the AGM refused to back a resolution to give him shares as part of his remuneration as the chief executive. It was only when the SGX asked that Hoe Leong disclosed they were United Overseas Bank and DBS Bank and provided information on their stakes.
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Source: The Straits Times - 🏆 8. / 63 Read more »