Singaporean businessman complains vs diluted shares

An independent director of a tuna canning firm, Alliance Select Foods Intl, said on Tuesday company majority owners were raising additional capital, which in effect dilute their shares in the canned seafood exporting firm.

Hedy Chua, a Singaporean, who holds 24 percent stake in the company, said the majority directors should present their plans to the board before they seek new capital or get loans for working capital.