A tale of 2 management: Genting Singapore Vs Sheng Siong
$GENTING SINGAPORE LIMITED(G13.SI)$
$SHENG SIONG GROUP LTD(OV8.SI)$
i happened to be reading the community posts, and saw that there are some people who lamented about y Genting Singapore shares are dropping or not going up.
I would like to take the chance to refresh the memories of what happened during Covid-19. Guess after Singapore reopens, somehow, some of the past could be forgotten with time...
Genting Singapore:
During Covid-19, retrenchments and paycutsas below, but well, with the impact from Covid-19 and no tourist, I perfectly understand the tough decision to be made.
https://www.businesstimes.com.sg/companies-markets/resorts-world-sentosa-announces-one-off-layoffs-pledges-to-protect-singaporean?amp
What I cannot understand is this:
https://www.asgam.com/index.php/2021/03/28/genting-singapore-says-kt-lim-pay-halved-in-2020-after-accrued-japan-ir-bonus-appears-to-show-2019-pay-doubled/
Imagine after a war, whereby soldiers are sent to die, the generals pat themselves on theback and reward themselves handsomely.
Imagine after sloughing hard for your company, at the sign of trouble, you are asked to go with token sum for retrenchment. Then u see your ex boss, change to a big house and big cars. How do u feel?
Genting can justify by saying that, the the bonus is not paid yet, that the bonus is for Japan IR license. But during tough times, instead of rewarding the top, which are already fat, shouldn't those who are suffering be consoled instead?
I dun understand the approach. As such, I will never ever invest in Genting Singapore, as I can not agree with their management style.
Compare Genting Singapore against this:
https://mothership.sg/2022/03/sheng-siong-ceo-works-at-supermarket/
https://www.todayonline.com/singapore/sheng-siong-reward-staff-16-months-bonus-after-tremendous-performance-2020
I perfectly understand that it's not apple to apple comparison. One thrives under Covid-19, one sufferes under Covid-19.
My point is more of, what does the leadership do?
As investors, we will want our captainS of ourinvestments to be aligned with our beliefs.
We want them to grow our companies.
Our money should be spent on improving the company and gives us back even better returns.
Management should look after shareholder and company's interest.
If management looks after their own interests, at the expense of shareholders and company's interest, should we continue to invest in the company?
Guess that everyone will have their own opinions. I can only say that I am a proud owner of Sheng Siong, and I will definitely be investing more to support this company.
And this is not even considering that with inflation, Sheng siong will be able to pass down the price increase to consumers. [Onlooker] [Cool]
Just my 2 cents.
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Lastly malaysia opening is one of the key highlights as many johorians are major contributor to the casino revenue and likely this year will be a good indicator.
Just my 1 cent worth. Cheers
I agree fully 👍👍
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