Unearthing Hidden Stories: The Fascinating World of Long-Term Shareholders - 2025-02-27

I have a peculiar habit: whenever I delve into a company's annual report, I'm drawn to the list of major shareholders. It's like a treasure hunt, searching for intriguing names that whisper stories of the past.

Take SBS Transit, for example. While browsing their shareholder list, I stumbled upon "Changi Bus Company (Private) Limited." Intrigued, I dug deeper and unearthed a fascinating piece of Singapore's transportation history. This wasn't just any bus company; it was the "mosquito bus," a humble operation that predated modern Singapore. Imagine my surprise to learn that the government, recognizing its importance, orchestrated its merger, transforming it into the SBS we know today, a powerhouse encompassing both buses and rail. This company, born 77 years ago, holds 691,548 SBS shares, a testament to its enduring legacy. At a price of $2.41, that's an investment worth $1,666,630.68! Your god-grandfather used to ride those "mosquito buses" to school – a personal connection to a piece of history hidden in a financial report.

Last time when I passed by Jalan Kayu, I saw one charity called Pei Hwa, which I saw the name in the CapitaLand top shareholder list, I tried to find out more about them. Interestingly, they were previously a school but sold the land to DBS Land, which later spin off from the bank to merge with other companies and eventually become the CapitaLand!

The stories don't stop there. Maybank Malaysia's shareholder list revealed an individual named Yong Siew Yoon, a top 27 shareholder in 2021, holding a staggering 22,656,600 shares. Her name resonated with me, as I knew the Yong Siew Yoon Wing at NUH Medical Centre was named in her honor. While her name vanished from the top 30 list in 2022 but I believe she still holds on to it!

OCBC's shareholder structure showcases the enduring power of family legacies, with the Lee-related shareholders maintaining their positions for generations. UOB, on the other hand, reveals a more concentrated hold, with a fascinating mix of individual investors. The Chen siblings – Chen Swee Shing, Chen Swee Lee, and Chen Swee Kwong. Then there's Ng Poh Cheng, a name that sparked my curiosity. Is he a fund manager? His office, or perhaps his home, seems to be located at condominium. The mystery adds another layer of intrigue.

These companies, some spanning 70 to 100 years, raise a fundamental question: how do they endure? I believe their long-term success lies in their strategic investments, particularly in the highly regulated banking sectors of Singapore and Malaysia. These investments, stable and reliable, provide a foundation for sustained growth and consistent dividends. 

Analyzing long-term shareholders reveals a key investment strategy: consistently holding bank shares. These shareholders demonstrate the power of patience, benefiting from the banks' steady profit growth and substantial dividend payouts over extended periods. 

This highlights that investing in stable, well-regulated financial institutions can yield significant long-term returns. However, this observation primarily applies to the banking sectors of Malaysia and Singapore, known for their robust regulatory frameworks. Banking stability and consistent dividend payouts are not guaranteed in other countries. Therefore, I strongly advise conducting thorough due diligence before making any investment decisions. Even in stable markets, economic conditions and company performance can change significantly over time.

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