SINGAPORE (June 4): Asiatic Group Holdings, the operator of power plants, says the group has managed to stay profitable for the past five financial years despite the challenges which are outside the control of the group.

However, Asiatic admitted the energy business was capital-intensive which necessitated several rounds of fund raising by the group.

Asiatic was responding to the open letter entitled 8 Reasons for a change which was sent to its board on May 9 by dissenting shareholder Jerry Low Chin Yee in which he criticised in detail the performance of the company’s power plants, stock price and management, among others.

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