4 October 2016


Activist backer Quarz urges Singapore’s Metro to return cash

metro quarz news

[SINGAPORE] Activist investor Quarz Capital Management Ltd has turned its sights on Singapore, calling on retailer and real-estate developer Metro Holdings Ltd to return excess cash to investors.

Metro’s net cash holdings of S$393 million is high compared with other companies listed on the Singapore stock exchange, and accounts for more than half its market capitalisation, Quarz said in a letter to the management and board obtained by Bloomberg News. Metro shares rose 2.2 per cent at 10.13am in Singapore.