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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: LR who wrote (9447)	2/9/1998 1:56:00 AM
From: Savoirman	Read Replies (2) \| Respond to of 13925

Thanks for all the encouragement guys. Just letting off steam at the injustice to a fine company. Creaf seems to be suffering here because it's more like a US company, and gets bashed on Nasdaq because it's an Asian company. The truth will out, I say. More corporate streamlining going on here. Singapore Press Holdings (the local newpaper monopoly which publishes all 10 local papers) has just got shareholder approval to merge its two tranches (local and foreign), long a bugbear of foreign fund managers. And today, Singapore Airlines (of the buybacks fame) commented that it too was going to get rid of its two tranches. These tranches were set up to protect so called "strategic" industries, but have come to cause severe distortions in the pricing of equities (the foreign tranches were sometimes 200% the price of the local). As you can see, things are moving here, sacred cows are being slaughtered for the common good. And so shall buybacks, which needs changes to the Companies Act and financial guidelines to become legal.