SINGAPORE (Oct 4): Activist investor Quarz Capital Management has turned its sights on Singapore, calling on retailer and real-estate developer Metro Holdings to return excess cash to investors.

(See also: Cash-rich Metro trades at large discount to book, could monetise balance sheet further)

Metro’s net cash holdings of $393 million is high compared with other companies listed on the Singapore stock exchange, and accounts for more than half its market capitalisation, Quarz said in a letter to the management and board obtained by Bloomberg News. Metro shares rose 2.2% at 10.13 am in Singapore.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook