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Fujitec Singapore has received a substantial order for approximately 300 elevators from the Housing & Development Board of Singapore. This order is part of the HDB 33rd Term Housing project, aimed at new homes in public housing estates, expected to complete in the next four to five years. Fujitec Singapore has previously delivered around 20,000 elevator units to HDB since 1972. The company is focused on enhancing safety and aims for global business expansion under its Vision24 plan.
Fujitec Taiwan Co., Ltd. has expanded its elevator manufacturing plant in Hsinchu, Taiwan, to enhance production efficiency. The facility aims to reach an output of 1,000 units per year by FY 2024. This upgrade includes automated sheet metal fabrication lines and welding robots, which are operational unattended at night. Additionally, the plant supports Taiwan's green energy policy by leasing roof space for solar panels that generate 170,000 kWh annually, improving both productivity and environmental sustainability.
Oasis Management Company, holding over 9.7% of Fujitec, criticized the company's Board for violating shareholder rights by allowing former President Takakazu Uchiyama to retain influence. Despite Uchiyama's withdrawal from the Director candidacy due to an ongoing investigation, he was appointed Chairman, raising concerns over governance. Oasis highlighted related-party transactions benefiting Uchiyama, calling for stronger governance and accountability.
Oasis is committed to advocating for Fujitec stakeholders and calls on all shareholders to voice their concerns to protect their investments.
Oasis Management Company Ltd., a major shareholder of Fujitec (9.7%), has raised concerns regarding the company's governance after its June 17 statement on establishing a third-party committee for additional investigations. Oasis criticizes the company's intent to merely ease shareholder suspicions instead of conducting a thorough investigation into related-party transactions involving President Uchiyama. Oasis urges shareholders to vote against Uchiyama's reappointment, arguing it would perpetuate corporate governance issues and conflicts of interest.
Oasis Management Company Ltd., which manages funds owning over 9.7% of Fujitec Co. Ltd., has criticized the company's latest governance measures. Following recommendations from proxy advisory firms ISS and Glass Lewis to vote against President Uchiyama’s reelection at the AGM on June 23, Oasis claims Fujitec's responses are superficial and misleading. They argue that the governance measures announced do not address serious governance failures and encourage shareholders to vote against Uchiyama.
Oasis Management Company Ltd. has published a response to Fujitec's Investigation Report, criticizing its findings regarding governance issues linked to President Uchiyama. Oasis asserts that the report fails to absolve Uchiyama of responsibility for related-party transactions and governance abuses, urging shareholders to vote against his reappointment at the upcoming AGM. The company believes that the investigation was superficial and did not adequately address corporate governance concerns. Oasis aims for a Fujitec free from power abuses by the Uchiyama family.
Oasis Management Company, managing over 9.7% of Fujitec shares, advises shareholders to vote against President Takakazu Uchiyama at the upcoming AGM. Oasis alleges that Fujitec's May 20 press release includes multiple false statements regarding governance and related-party transactions involving the Uchiyama family. They call for an independent investigation by a new law firm, citing that the current firm has longstanding ties with the Uchiyama family. Oasis expresses deep concern over corporate governance issues and the Uchiyama family's control over Fujitec.
Oasis Management, holding over 7.5% of Fujitec, urges shareholders to reject President Uchiyama's reappointment due to governance concerns. The firm highlights questionable related-party transactions involving Uchiyama's family companies, which have remained undisclosed to shareholders. Oasis launched the "Protect Fujitec" campaign, aiming to improve corporate governance for sustainable growth and independence from Uchiyama's influence. More insights on these transactions are available in their investor presentation.
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