Ann: Business Update, page-321

agree, the management even try to increase their remuneration in the AGM when they already know the performance is well below the expectation. So, they tried to set a very low benchmark for their incentive bonuses, of course, it has been rejected in the AGM. I should be warned at that time, but I refused to accept it. It is obvious that the management has no credibility at all, and try to take advantage of uninformed shareholders.

For those who blame Chinese for the lack of loyalty, Please have a look at A2M. The regulation change do have some impact on all infant formula companies, including A2M. But the impact on A2m is the smallest because of the loyal Chinese customers. Customer only have loyalty to the company that provides best products and respects customers. Will you loyal to a company who increase the price significantly twice in a short period just because they want a higher margin? Can I ask you will you still be royal to hold BAL share after all what had happened today? or Will you be loyal to Samsung if Note 7 explode in your hand?

Thanks to A2M, I still have some capital gains this year by now, but I dont know what will happen next week. I had escaped from BKL at $22o when I realised their IF is a joke, and I think I am so smart. Now I learned a lesson that I'm still a uninformed and unskilled shareholder with so much pain. Will be more prudential in all my investments in the future, and hope all the BAL holders will recover your losses soon.