SGX Listed Stock

DATAPULSE TECHNOLOGY LIMITED (SGX:BKW)


SGD 0.230
0.000 / 0.00%
Share Price as of: 2019-06-18 17:16
Market / ISIN Code: SGX Mainboard / SG1CB7000003
GICS® Sector / Industry Group / Industry: Information Technology / Technology Hardware & Equipment / Technology Hardware, Storage and Peripherals


Datapulse Technology Blogger ArticlesDATAPULSE TECHNOLOGY LIMITED Blogger Articles SGX Listed DATAPULSE TECHNOLOGY LIMITED (SGX:BKW) Blogger Articles BKW.SI Blogger Articles
Governance For Stakeholders
Mak Yuen Teen
2019-06-04 06:30:55
When poor governance meets liberal rules
First published in Business Times on June 4, 2019 By Mak Yuen Teen In April, (my colleague at the National University of Singapore Business School) Richard Tan and I released a report titled “Avoiding potholes in listed companies”, published by CPA Australia. The report identified 16 warning signs and red flags in corporate governance, disclosure and reporting that had differentiated 33 companies that had run into serious corporate governance or accounting problems, and comparable companies that had not. The study also found 14 other companies that had many of the same red flags and may therefore be at risk of suffering the same fate soon (although we did not name them in the published report). Allied Technologies Holdings was one of them. In the three years leading up to April
Governance For Stakeholders
Mak Yuen Teen
2019-05-24 06:33:46
Hyflux’s board ticked boxes but let down stakeholders
At various points during the Hyflux saga so far, I have given comments to the media and made periodic postings about the company’s corporate governance and its restructuring. I have not to this point written extensive commentaries on it like I have done for many other companies, like SingPost, Datapulse, YuuZoo, Noble and others. There were a number of reasons. First, I thought there were enough people commenting on every single development (in fact, I had turned down requests for comments from the media on several occasions). Second, I did not think there was the kind of egregious behaviour that we have seen in many other companies, even though I thought the Hyflux board was flawed and let down stakeholders. More recently, there was a third reason – I had set a major examinati
Governance For Stakeholders
Mak Yuen Teen
2019-04-22 07:12:16
More Trouble Ahead for ICP and Datapulse Technology Shareholders?
By Mak Yuen Teen On 20 April, ICP responded to SGX’s queries regarding the resignation of Stephen James Burt, Director of Travelodge Hotels (Asia) Pte. Ltd., a wholly-owned subsidiary of the Company. Mr Burt had resigned  with effect from 15 April and his resignation was announced by ICP that same day. On 17 April, I posted an article raising questions about the circumstances surrounding the resignation of Mr Burt.  I questioned whether the sponsor had asked the following questions: a. Was Mr Burt required to serve any notice under his employment contract, and if so, why did he not serve out his notice to enable ICP to find a replacement? b. Had Mr Burt already tendered his resignation earlier, and if so, when did he do so and why did ICP not announce it at that time? SGX did not
Governance For Stakeholders
Mak Yuen Teen
2019-04-17 07:33:11
Datapulse Technology and the resignation of ICP’s head of hotel management business
By Mak Yuen Teen On April 15, ICP announced the resignation of 63-year old Stephen James Burt, its director of Travelodge Hotels (Asia) Pte Ltd who was responsible for the group’s hotel management business. The effective date of cessation was the day of the announcement. The reason given was “to pursue personal interests”. RHT Capital, the continuing sponsor, included the standard boilerplate statement that based on its enquiries, it is satisfied that there are  no other material reasons for Mr Burt’s cessation. Did the sponsor ask the following questions in arriving at its determination?: a. Was Mr Burt required to serve any notice under his employment contract, and if so, why did he not serve out his notice to enable ICP to find a replacement? b. Had Mr Burt alre
Governance For Stakeholders
Mak Yuen Teen
2019-03-13 19:27:05
Will Datapulse Shareholders Be Haunted By The Seoul Hotel?
By Mak Yuen Teen On 14 March 2019, Datapulse Technology Limited’s (“Datapulse”) shareholders will vote on the company’s proposed acquisition of Hotel Aropa in Seoul, together with six other resolutions. Before going into the resolutions, we should reflect on what has taken place up to now. In November 2017, Ms Ng Siew Hong (NSH) bought 29 percent of the shares at 55 cents per share, at a more than 50 percent premium. Soon after, Datapulse bought Wayco, which it is now selling back after incurring considerable fees and expenses.  This was a deal recommended by NSH. Did NSH pay 55 cents per share to get Datapulse to buy Wayco (and possibly the other Way Group companies) because she truly believed that Wayco and the hair case business was the future for Datapulse? In my opinion, the
Governance For Stakeholders
Mak Yuen Teen
2019-03-12 10:00:09
Further thoughts on the Datapulse EGM on March 14, 2019
By Mak Yuen Teen A few days ago, I posted an article titled “Will Datapulse shareholders be haunted by the Seoul hotel” where I discussed resolutions 1, 2 and 7. This follows an earlier post “Datapulse Technology” Here we go again….” where I also gave my views on some of the other resolutions. I would like to summarise my views on the 7 resolutions here. Ordinary Resolution 1: This resolution is about the proposed expansion of the property business into hotels and hospitality assets. I will vote “no” because I believe shareholders are better off investing in other companies with long and successful track records in these areas. Shareholders are better served if cash is returned to them to do so. Ordinary Resolution 2: This is the central res
Governance For Stakeholders
Mak Yuen Teen
2019-03-12 08:24:29
Datapulse Technology: Here we go again….
By Mak Yuen Teen On March 14, Datapulse Technology will hold an EGM to consider seven resolutions. Minority shareholders should carefully study the circular and consider voting against 1, 2 and 7 which relate to the expansion of the business to hotels and hospitality assets, the acquisition of the hotel in Seoul for KRW35 billion (about S$42.7 million or  57% of the cash balance based on the FY2019 Q1 results), and the interested person transactions (IPTs) with ICP Group.  They should also consider voting against the change of name of the company to Capiti Property Partners Ltd under resolution 4 as that is part of sealing the fate of the company in a business that I believe it is highly unlikely to succeed in. In my opinion, they should vote for resolution 3 to approve the disposal of W
Governance For Stakeholders
Mak Yuen Teen
2019-02-27 07:26:33
Why minority investors don’t stand a chance
A version of this article was published in the Business Times on February 27, 2019. By Mak Yuen Teen In recent years, the lack of effective investor protection in our market has become rather evident. For S-chips and other foreign listings, regulatory enforcement has often been hampered by the inapplicability of laws, cross-border enforcement barriers or runaway miscreants. However, the Datapulse Technology (DT) case shows that even for Singapore-incorporated, Singapore-based companies, investor protection leaves much to be desired. First, the case highlights the deficiencies in our listing rules in protecting minority investors, especially the Chapter 9 rules on “Interested Person Transactions (IPTs) and the Chapter 10 rules on “Acquisitions and Realisations”. DT was able to acquire





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