Sime Darby Pilipinas revolt

Article Abstract:

Sime Darby Pilipinas Inc. majority shareholders are being sued by a minority board member for alleged mismanagement and neglect to minority interests. Further, Mark Mobius, who leads Templeton Asset Management Ltd., asserted that he is also considering airing a protest against the company's board for spending $30.82 million to buy for a majority stake in a sister company. Leonardo Alejandrino, who filed a complaint with the Philippine Securities and Exchange Commission, claims that Sime Darby Pilipinas also violated a Philippine law that forbids the use of dummy companies to hide illegitimate land purchases.

Comment:

Majority shareholders are being sued by a minority board member for alleged mismanagement and neglect to minority interests

Government regulation (cont), Philippines, Tires, Tire Manufacturing (except Retreading), Sime Darby Pilipinas Inc., Article

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Malaysia's utilities lose spark amid rate reversal

Article Abstract:

Malaysian cabinet officials have rescinded national electric company Tenaga Nasional Bhd.'s electricity rate increase. The move has forced several brokerage firms to rate the utility as a sell. Many analysts fear that the government might make similar moves on other privatized concerns. Although the restraint of the rate hike has been welcomed by consumers, shareholders and lenders are concerned with the risk factors posed by the decision.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Regulation and Administration of Communications, Electric, Gas, and Other Utilities, Electric services, Utility Rates Regulation, Prices and rates, Economic policy, Malaysia, Utility regulations, Rate regulation

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