Short report on COSCO AGM yesterday at Suntec Convention. 3pm.
Not many ppl....like 70%....no ntuc vouchers, got 1 snack box voucher though.
There are free Suntec sweets, Suntec pen and writing pads in the room.
Along w cooler water dispenser...
Meeting start on the dot....the chairman too chicken to come SG so appoint 2 IC as chairman. But got show small video with the chairman saying "regret he couldn't be with us as he need to attend a meeting in S Korea called by the government".....
After introduction.....the 2IC the english is sibei CMI....so got interpreter on hand. then immediately the 2 IC want to jump to voting....wtf....so fast.
But got HERO....an uncle raised his hand.....this starts the QnA for the next 2 hours.
The slide showing the 1st resolution stuck there for 2 hours.....
The QnA stretch (due to interpretation) n certain portions....gets boring....and Im not surprised seeing ppl leave until end only < 40% left.....think less than 100.
The interpreter is the most hardworking.....english to mandarin, mandarin to english...really is sibei tokkong.
My verdict is COSCO is really finished and Im not surprised they might pull out even though they say they wont.
Their answers mostly beat around the bush type which further angers the shareholders.
A sneaky thing the COSCO ppl did is there was no full financial paper report for free taking unless you begged them for it.
Some actually came prepared with the PDF version in their mobile/tablets.
Drag until 5pm....and someone came in to tell everyone the food is expiring and must be consumed....and the Suntec ppl say they wont be responsible if something happened if the food is consumed after 5.30pm.
(Food prepared 1.30pm....Expiry...5.30pm)
So everything speeds up and the directors get more frustrated with short answers.
Ah Tiong 1 Sinkie 0. Sinkie tio pwned gao gao.
A stock which used to price at $8....and used to be STI stock now....less than 40c.....haiz.
Near the end, the fire alarm went off and the mikes also went off....but the directors still carry on....well....no one bothers as almost half already heading to get their snack box.
Here is the pic.....inside the small box there was originally a sausage crossiant and a pastry...but i makan then remember to take pic....lol.
I find the snack box not bad....i took the 2 desserts n orange juice back home.