KINIBIZ A rather strange body has been set up - a minority shareholders’ watchdog group for Puncak Niaga. Strange because this watchdog is not only unconcerned about the huge RM30 million plus that Puncak’s executive chairperson got as wages, but in fact hails it. What kind of watchdog is this? Tiger digs in and scents a stench.
Being in the wild, Tigers are not into corporate governance, don’t give a hoot about minority shareholders rights, and generally don’t care if a corporate chieftain is overpaid.
But since the Internet made its way into the (corporate) jungle, Tiger has been surfing and reading interesting bits from all over - well it’s either the Net or Astro’s many Jean Claude Van Damme movies, or Tony Fernandes going “you’re fired” - so am sure you understand.
Anyway some of what Tiger has read online recently is pretty baffling, and much, much worse than a tick invasion.
So … water concessionaire Puncak Niaga Holdings Bhd has its own minority shareholders watchdog group?
Other than being unhappy with the ‘dog’ bit in ‘watchdog’, Tiger finds this whole thing a farce. Now are there any other companies which have a minority shareholder watchdog group?
Maybe this whole watchdog group of Puncak is the start of a fad, and soon all companies with shares traded on Bursa Malaysia will have their own watchdog groups, and even the small and medium enterprises and those members of the Federation of Malaysian Manufacturers, will catch on.
Puncak will be a known trend setter then ... never mind if the water services - its mainstay - is not up to the mark, just focus on being a trendsetter! What’s the word again ... hip?
Generally one would think that such a group is set up to protect minority rights, from a tyrannical controlling shareholder, a controlling shareholder with Tiger traits.
Now, Tiger has a to make a confession, the special interest in the water sector stems from having noticed that many a jungle has been cleared for housing developments, only for the house owners to have a ghastly water filter placed in front of the house.
Some of the houses have some shiny containers on the roof tops … God only knows what those are, but rumour circulating in the jungle has it that its Puncak’s fault. In fact almost everything about Puncak is weak.
Being in the wild, Tigers are not into corporate governance, don’t give a hoot about minority shareholders rights, and generally don’t care if a corporate chieftain is overpaid.
But since the Internet made its way into the (corporate) jungle, Tiger has been surfing and reading interesting bits from all over - well it’s either the Net or Astro’s many Jean Claude Van Damme movies, or Tony Fernandes going “you’re fired” - so am sure you understand.
Anyway some of what Tiger has read online recently is pretty baffling, and much, much worse than a tick invasion.
So … water concessionaire Puncak Niaga Holdings Bhd has its own minority shareholders watchdog group?Other than being unhappy with the ‘dog’ bit in ‘watchdog’, Tiger finds this whole thing a farce. Now are there any other companies which have a minority shareholder watchdog group?
Maybe this whole watchdog group of Puncak is the start of a fad, and soon all companies with shares traded on Bursa Malaysia will have their own watchdog groups, and even the small and medium enterprises and those members of the Federation of Malaysian Manufacturers, will catch on.
Puncak will be a known trend setter then ... never mind if the water services - its mainstay - is not up to the mark, just focus on being a trendsetter! What’s the word again ... hip?
Generally one would think that such a group is set up to protect minority rights, from a tyrannical controlling shareholder, a controlling shareholder with Tiger traits.
Now, Tiger has a to make a confession, the special interest in the water sector stems from having noticed that many a jungle has been cleared for housing developments, only for the house owners to have a ghastly water filter placed in front of the house.
Some of the houses have some shiny containers on the roof tops … God only knows what those are, but rumour circulating in the jungle has it that its Puncak’s fault. In fact almost everything about Puncak is weak.
Go to Kinibiz for more.
This article was written by Jose Barrock.
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