AGM / EGMS

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Understanding Key Information In Annual Report
The Annual General Meeting Corporate Governance Checklist (Checklist) highlights questions for shareholders to consider in preparation for an Annual General Meeting (AGM). Shareholders play an important role in driving responsible corporate behaviour and the AGM is one of the platforms where they can raise material issues for discussion or seek explanation from the board and management.
 
 

 

 

Latest Newsletter:
MSWG AGMEGM Weekly Newsletter 22 May 2020 (English)

(Since the imposition of Movement Control Order (MCO) by Malaysian government beginning from 18 March 2020, public listed companies have postponed their general meetings while some have proceeded with virtual general meetings.

On another note, MSWG would like to wish our Muslims friend Selamat Hari Raya Aidilfitri.)

 

22.05.2020

Is COVID-19 a convenient excuse for PLCs?

Kudos to Bursa Malaysia for not acceding to Affin Bank Bhd’s recent attempt to backtrack on the quantum of its earlier declared final dividend even as the latter’s reasoning made valid business sense.

The market regulator’s rejection dated 6 May has prevented a precedent – at least in Malaysia – whereby no other banks are known to have sought to reduce their dividend pay-outs once publicly declared.

Affin Bank had on 27 April sought to review its final dividend for the financial year ended 31 December 2019 to five sen per share (entailing a total payout of RM99.3 million) from seven sen per share (or total pay-out of RM139.02 million) as per its 4QFY19 financial results announced on 27 February.

Nevertheless, Affin Bank’s rationale of wanting to preserve its capital and liquidity amid the economic slowdown triggered by the COVID-19 pandemic has been in tandem with the practice of some major global banks.

Asean CG Report 2018

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