Alset

Founder‑Chairman‑CEO Chan Heng Fai controls about 90.5% of shares, aligning incentives but concentrating power. Board and management hold roles across affiliates, and Alset engages in frequent transactions with entities under common influence.

While insider ownership can be a strength, here it amplifies governance risk and minority‑holder uncertainty, especially when combined with heavy dilution. We do not see a demonstrated record of compounding per‑share value.