News
Press Statement – Official Launch of the Company Meetings Survey 2007
7 April 2007
Good Morning
Important Friends
First and foremost, once again I would like to welcome you to our First Press Briefing for the Year 2008.
The objectives of today’s Press Briefing are two-fold :-
(i) To provide a prelude to the event on 17 April 2008 (Thursday) at the Conference Room, Bursa Malaysia on the following :-
PRELUDE TO THE EVENT ON 17 APRIL 2008 (THURSDAY)
Official Launch of the Company Meetings Survey 2007
The Company Meetings Survey 2007 is a collaborative effort between MSWG and the Universiti Teknologi MARA. This Survey is undertaken to determine the level of the reporting compliance and best practice by the top 100 public listed companies on company meetings vis-à-vis with the Listing Requirements and Best Practices. It highlights some of the many important issues which cover general meetings, board meetings and board committee meetings. We believe this Survey will provide relevant and helpful information to the directors and management of PLCs on how to enhance the value and quality of General Meetings, Board Meetings and Committee Meetings.
This Report will be distributed and marketed to the public-listed companies mentioned in the Survey Reports as well as local and international institutions including professional bodies, fund managers, research houses, institutional shareholders, statutory bodies, regulators, financial institutions, institutes of higher learning and international corporate governance bodies.
The Company Meetings Survey 2007 will be available for sale after the official launch. Official Launch of MSWG’s Subscriber Services In line with its objectives to promote shareholder activism among the retail shareholders, MSWG is offering its Subscriber Services to the investing public. There are two (2) classes of Subscriber Services offered, i.e. Individual Subscribers and Corporate Subscribers. The annual fees for the Subscriber Services are as follows :-
• Individual Rates
• Corporate Rates
However, a special 20% discount on the annual fees will be given for limited period only, i.e. until 30 June 2008. Application can be made by signing the prescribed form which can be downloaded from our website : www:mswg.org.my
For the initial stage, the subscribers shall be entitled to the following value proposition, which will be improved from time to time :-
Workshop for the Retail Shareholders
This Workshop entitled “Profitability, Liquidity & Insolvency – How to Analyse and Interpret Them for Making Right Investment” is specially organized for the retail shareholders. It is aimed to impart knowledge and make the retail shareholders/investors understand ratio analysis and versatile tools in analyzing and interpreting company’s performance.
The fee for this Workshop is RM100 which includes the refreshments/lunch and materials.
Dialogue with Investing Public
At the end of the event, a dialogue will also be held with the Investing Public. The objectives of the Dialogues are as follows :-
Latest Status Report on MSWG Activities
In ensuring that MSWG meets the Capital Market Development Fund’s requirements to focus more on delivering its Public Mandate, MSWG has embarked on various activities involving the public, particularly the retail shareholders. The details of the various activities which were successfully carried out by MSWG 1 January to 31 December 2007 as compared to the KPIs are as follows :
In complying with the CMDF’s requirements for the Company to focus its activities on encouraging shareholder activism among the retail investors, the Company had organized the following programmes to inform, educate and broaden the retail investors’ knowledge in investing in the public listed companies, thus making them better investors.
(i) Regular Dialogues
Dialogues to obtain feedbacks and suggestions on how best the Company could serve the retail investors’ needs were successfully held with three separate groups, i.e. Retail Investors, Institutional Shareholders/Professional Bodies and Media on 24 July 2007, 8 August 2007 and 9 August 2007 respectively.
(ii) Seminars Held
Three seminars were held in conjunction with the official launching of the following publications :-
These seminars were attended not only by the institutional shareholders, but also the retail investors.
The first Half-Day Seminar for the retail investors was held on 7 September 2007 which was attended by 100 retail investors.
Planned Activities For The Year 2008
Under the reviewed Business Plan, the Company has planned for various activities including the following to be carried out in year 2008 which will focus primarily on the retail investors and at the same time able to generate income in its aim to be sustainable by year 2009.
Conclusion
MSWG is proud to say that over the period, it has succeeded in achieving a high level on Visibility and Credibility. This achievement is borne by the various evidence including :-
In brief, it is humbly submitted that MSWG continues to play an enhanced leading role in Enhancing Shareholder Activism and Protection of Minority Interests. More emphasis is now being placed on addressing the public mandate to develop shareholder activism among the retail shareholders.
Lastly, MSWG welcomes any questions or/and comments from the media on its activities in ensuring that MSWG achieves its objectives effectively. Together, we will try to enhance the development of our capital market thereby making Malaysia a better place to live in.
ABDUL WAHAB JAAFAR SIDEK
Chief Executive Officer
Minority Shareholder Watchdog Group (MSWG)
Dated : 8 April 2008
7 April 2007
Good Morning
Important Friends
First and foremost, once again I would like to welcome you to our First Press Briefing for the Year 2008.
The objectives of today’s Press Briefing are two-fold :-
(i) To provide a prelude to the event on 17 April 2008 (Thursday) at the Conference Room, Bursa Malaysia on the following :-
- Official Launch of the Company Meetings Survey 2007;
- Official Launch of MSWG’s Subscriber Services;
- Workshop for the Retail Investors; and
- Dialogue with Investing Public.
PRELUDE TO THE EVENT ON 17 APRIL 2008 (THURSDAY)
Official Launch of the Company Meetings Survey 2007
The Company Meetings Survey 2007 is a collaborative effort between MSWG and the Universiti Teknologi MARA. This Survey is undertaken to determine the level of the reporting compliance and best practice by the top 100 public listed companies on company meetings vis-à-vis with the Listing Requirements and Best Practices. It highlights some of the many important issues which cover general meetings, board meetings and board committee meetings. We believe this Survey will provide relevant and helpful information to the directors and management of PLCs on how to enhance the value and quality of General Meetings, Board Meetings and Committee Meetings.
This Report will be distributed and marketed to the public-listed companies mentioned in the Survey Reports as well as local and international institutions including professional bodies, fund managers, research houses, institutional shareholders, statutory bodies, regulators, financial institutions, institutes of higher learning and international corporate governance bodies.
The Company Meetings Survey 2007 will be available for sale after the official launch. Official Launch of MSWG’s Subscriber Services In line with its objectives to promote shareholder activism among the retail shareholders, MSWG is offering its Subscriber Services to the investing public. There are two (2) classes of Subscriber Services offered, i.e. Individual Subscribers and Corporate Subscribers. The annual fees for the Subscriber Services are as follows :-
• Individual Rates
| Local - RM100 per annum |
| Overseas - USD100 per annum |
• Corporate Rates
| Local - RM1,000 per annum |
| Overseas - USD1,000 per annum |
However, a special 20% discount on the annual fees will be given for limited period only, i.e. until 30 June 2008. Application can be made by signing the prescribed form which can be downloaded from our website : www:mswg.org.my
For the initial stage, the subscribers shall be entitled to the following value proposition, which will be improved from time to time :-
- Proxy Advisory and Proxy Voting Services - A nominal fee will be charged for attendance and services rendered including monitoring and surveillance of the PLCs;
- Access to MSWG’s letters to the PLCs on the points to be raised at the General Meetings of the PLCs;
- Appropriate responses to the subscribers on issues, complaints or grievances to be resolved for the subscribers’ benefit;
- Regular dialogue sessions on common issues in PLCs affecting the minority interest;
- Priority booking and discounted rate for the Investors Education Programmes and other events organized by MSWG; and
- Discounted price for all MSWG’s publications.
Workshop for the Retail Shareholders
This Workshop entitled “Profitability, Liquidity & Insolvency – How to Analyse and Interpret Them for Making Right Investment” is specially organized for the retail shareholders. It is aimed to impart knowledge and make the retail shareholders/investors understand ratio analysis and versatile tools in analyzing and interpreting company’s performance.
The fee for this Workshop is RM100 which includes the refreshments/lunch and materials.
Dialogue with Investing Public
At the end of the event, a dialogue will also be held with the Investing Public. The objectives of the Dialogues are as follows :-
- To obtain feedbacks from the retail shareholders to enable MSWG to design and develop its range of products & services which are aimed at informing and educating as well as broadening the prospective and the knowledge of investing in PLCs by retail shareholders to become better investors; and
- The findings will also be able to guide MSWG to enhance its basic role to improve the credibility of the capital market for all stakeholders.
Latest Status Report on MSWG Activities
In ensuring that MSWG meets the Capital Market Development Fund’s requirements to focus more on delivering its Public Mandate, MSWG has embarked on various activities involving the public, particularly the retail shareholders. The details of the various activities which were successfully carried out by MSWG 1 January to 31 December 2007 as compared to the KPIs are as follows :
| KPIs | Undertaken | Variance | |
| • Proxy Advisory & Voting Services | 35 | 257 | 222 (634%) Favourable |
| • Articles/Commentaries/ Interviews/Speaking/Engagements |
35 | 118 | 83 (237%) Favourable |
| • A Guide of Best Practices For Institutional Shareholders |
None | 31/1/07 | Favourable |
| • Directors’ Remuneration Survey 2007 | 31/12/07 (120 top PLCs) |
30/6/07 (500 top PLCs) |
Favourable |
| • CG Survey 2007 | 30/6/07 (120 top PLCs) |
30/9/07 (350 top PLCs/100 Small-Cap PLCs/40 Second Board PLCs/10 Mesdaq PLCs) |
Favourable |
| • Shareholdings Survey 2007 | None | 31/12/07 (all PLCs listed on 30/6/97 and 30/6/06) |
Preparing for Official Launch |
| • Company Meetings Survey 2007 | None | 31/12/07 (100 top PLCs) |
Preparing for Official Launch |
| • Dividend Survey 2007 | 31/12/07 (120 PLCs) |
31/12/07 (500 top PLCs) |
Being Finalised |
| • Dividend Scanner | - | 31/12/07 (500 top PLCs) |
Being Finalised |
| • Dialogues : | |||
|
None | 24/7/07 | Favourable |
|
None | 8/8/07 | Favourable |
|
None | 9/8/07 | Favourable |
|
None | 29/1/07(1) | Favourable |
| 10/4/07(2) | Favourable | ||
| 7/9/07(3) | Favourable | ||
| 12/9/07(4) | Favourable | ||
| 20/11/07(5) | Favourable | ||
| 27/12/07(6) | Favourable |
| Note: | (1) | Seminar held in conjunction with the launching of “A Guide of Best Practices for Institutional Shareholders” and “A Guide for Retail Shareholders” |
| (2) | Seminar held in conjunction with the launching of Corporate Governance Screencard 2006 and Dividend Survey 2006 | |
| (3) | Seminar for Retail Shareholders | |
| (4) | Seminar held in conjunction with the launching of Directors’ Remuneration Survey 2006 | |
| (5) | Ceremony held in conjunction with the launching of Corporate Governance Survey 2007 – Retail Shareholders were also invited to this event. | |
| (6) | Seminar for Retail Shareholders |
| KPIs | Undertaken | Variance | |
| • Proxy Advisory & Voting Services | 35 | 218 | 183 (523%) Favourable |
| • Articles/Commentaries/ Interviews/Speaking/Engagements |
35 | 92 | 57 (163%) Favourable |
| • A Guide of Best Practices For Institutional Shareholders |
None | 31/1/07 | Favourable |
| • Directors’ Remuneration Survey 2007 | 31/12/07 (120 top PLCs) |
30/6/07 (500 top PLCs) |
Favourable |
| • CG Survey 2007 | 30/6/07 (120 top PLCs) |
30/10/07 (350 top PLCs/100 Small-Cap PLCs/40 Second Board PLCs/10 Mesdaq PLCs) |
Preparing for Official Launch |
| • Shareholdings Survey | None | 31/10/07 (all PLCs listed on 30/6/97 and 30/6/06) |
Preparing for Official Launch |
| • Company Meetings Survey | None | 31/12/07 (100 top PLCs) |
Preparing for Official Launch |
| • Dividend Survey 2007 | 31/12/07 (120 PLCs) |
31/12/07 (500 top PLCs) |
Being Undertaken |
| • Dividend Scanner | - | 31/12/07 (500 top PLCs) |
Being Undertaken |
In complying with the CMDF’s requirements for the Company to focus its activities on encouraging shareholder activism among the retail investors, the Company had organized the following programmes to inform, educate and broaden the retail investors’ knowledge in investing in the public listed companies, thus making them better investors.
(i) Regular Dialogues
Dialogues to obtain feedbacks and suggestions on how best the Company could serve the retail investors’ needs were successfully held with three separate groups, i.e. Retail Investors, Institutional Shareholders/Professional Bodies and Media on 24 July 2007, 8 August 2007 and 9 August 2007 respectively.
(ii) Seminars Held
Three seminars were held in conjunction with the official launching of the following publications :-
- A Guide of Best Practices for Institutional Shareholders
- A Guide for Retail Shareholders
- Corporate Governance Screencard
- Dividend Survey
- Directors’ Remuneration
These seminars were attended not only by the institutional shareholders, but also the retail investors.
The first Half-Day Seminar for the retail investors was held on 7 September 2007 which was attended by 100 retail investors.
Planned Activities For The Year 2008
Under the reviewed Business Plan, the Company has planned for various activities including the following to be carried out in year 2008 which will focus primarily on the retail investors and at the same time able to generate income in its aim to be sustainable by year 2009.
- Proxy Voting Services - 200 public listed companies
- Corporate Governance Survey 2008 (Collaboration with the Nottingham University Business School) - Covering all public listed companies on Bursa Malaysia Securities Berhad
- Dividend Survey 2008 (Collaboration with the University Teknologi MARA) - Covering all public listed companies on Bursa Malaysia Securities Berhad
- Regular Dialogues - To be held with retail investors, institutional shareholders/professional bodies and Media
- Seminars for Retail Investors - To be held quarterly either solely by the Company or in collaboration with third parties
- Subscriber Services - Individual Subscribers and Corporate Subscribers, both local and international.
Conclusion
MSWG is proud to say that over the period, it has succeeded in achieving a high level on Visibility and Credibility. This achievement is borne by the various evidence including :-
- MSWG is properly licensed – the Company, CEO and the Head of Client Services possess the required Licenses;
- Participation as Guest Commentator on TV3 Prime Time Programme “The Exchange” on eight (8) occasions;
- Appearance as a Guest on TV2 Programme : Money Tree;
- Featured on Prime Time, i.e. TV News which included TV1, TV2, TV3, NT7 and Astro on numerous times;
- Invitations received to attend AGMs/EGMs;
- MSWG is the Chairman of the panel of judges for the Malaysian Business Corporate Governance Award;
- Member of the Judging Panel for the CEO of the Year Award;
- An Adjudicator for the MIA National Annual Corporate Report Awards (NACRA) 2007;
- Invitation for MSWG to pen a monthly column in the Malaysian Business Magazine;
- Willingness of The Star and Utusan Malaysia to give a Regular Column to MSWG.
- Invitation to participate in the roundtable organized by International oganisations like Organisation for Economic Cooperation and Development (OECD) and the Asian Corporate Governance Association (ACGA). MSWG has been approached by a member of OECD to initiate the setting up of a Regional Network for Shareholder Organisations in the Asia Pacific;
- Publication of numerous commentaries and articles from MSWG on topical issues in the newspapers and journals;
- Invitation for MSWG to be a speaker/panelist in various international as well as national seminars and conferences, including World Council of Corporate Governance (WCCG) and INSEAD;
- Invitation to MSWG for various functions including the initial Star CEO breakfast dialogue and the Annual Budget dialogue with the Finance Ministers;
- Invitation to be a panelist in the Edge-PwC Roundtable on Board Effectiveness;
- Request from the Securities Commission to play a leading role in the setting up of the Institutional Shareholders Committee;
- Request by the Securities Commission to undertake Corporate Governance Survey for all the public listed companies;
- Appointment as Proxies to attend AGMs/EGMs by various investors;
- Proposed appointments as Independent Scrutineers by public-listed companies;
- Briefings by directors and advisers of a number of public listed companies on their corporate restructurings and acquisitions;
- Holding of Corporate Governance Award Ceremonies and Seminars on Corporate Governance for PLCs, institutional and retail shareholders; and
- Positive actions and feedbacks from numerous relevant parties including corporate leaders and retail shareholders.
In brief, it is humbly submitted that MSWG continues to play an enhanced leading role in Enhancing Shareholder Activism and Protection of Minority Interests. More emphasis is now being placed on addressing the public mandate to develop shareholder activism among the retail shareholders.
Lastly, MSWG welcomes any questions or/and comments from the media on its activities in ensuring that MSWG achieves its objectives effectively. Together, we will try to enhance the development of our capital market thereby making Malaysia a better place to live in.
ABDUL WAHAB JAAFAR SIDEK
Chief Executive Officer
Minority Shareholder Watchdog Group (MSWG)
Dated : 8 April 2008
