Dear MSWG person in charge,
I was wondering, what minority stock holder can do, to address the below matter?
By referring to page 2, and page 10 Berjaya Sports Toto Berhad Q2 2013 quarterly report
For the quarter
As compared to the previous year corresponding quarter ended 31 October 2012, the Group recorded a decrease in revenue and pre-tax profit of 4.6% and 20.8% respectively. The higher percentage decrease in pre-tax profit was mainly due to the corporate exercise expenses incurred pursuant to the proposed listing of STM Trust (which was aborted) in the current quarter under review. The drop in the Group's pre-tax profit would be 8.9% should the corporate exercise expenses be excluded.
To find out how much is spent for corporate exercise expenses
* All figures are in '000
127,827 (Q2 2013)
161,451 (Q2 2012) (-20.8%)
If corporate exercise expenses be excluded.
147,082 (Q2 2013)
161,451 (Q2 2012) (-8.9%)
corporate exercise expenses = 19,255 (In '000)
Even without spending RM19,255,000, we can definitely find out Singapore Stock Market is not suitable for dual listing in early stage.
So, why we need to spend RM19,255,000 to learn this simple lesson? Isn't there is something fishy behind?
I feel the entire transaction is lack of transparency? May I know, what action minority shareholders can take, to get the above question answered?