LETTER | Short of using harsh words, many listed companies are con jobs.
I think the views presented in the letter are not holistic and comprehensive. In fact, they are quite one-sided and biased.
May I ask how many percent of the listed companies in Bursa Malaysia today are of investment grade? My estimate is not even exceeding 20 percent. The management and the controlling shareholders are being lavishly rewarded while shareholders who provided the funding are given pittance or nothing. I understand caveat emptor must be the basic guiding principle of investing. However, if the market is ineffectively regulated and infested with poor governance, I think it is difficult for ordinary investors to make choices.
Sometimes I see captains of industries and bosses of corporation destroying rather than creating values.
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