Asia Pacific Wire & Cable Corporation Urged to Implement Capital Allocation Reforms, Cancel Rights Offering.

Shareholder Marco M. Elser has issued an open letter to Asia Pacific Wire & Cable Corporation Limited's CEO Tony Yuan, urging immediate capital allocation reforms and cancellation of the recently announced rights offering. Elser, a 30-year shareholder, is concerned about the decline in APWC's share price despite favorable trends in the electrical-infrastructure sector. He suggests cancelling the rights offering and launching a share repurchase program or rights offering at 60% of tangible book value. Elser also proposes forming an independent committee to evaluate the company's inventory levels and explore returning excess capital to shareholders.