MSWG Weekly Newsletter 30 April 2018 (English)

Monday, 30 April, 2018




Bursa Malaysia has launched BURSASUSTAIN, a comprehensive online portal designed as a one-stop knowledge and information hub on corporate governance (“CG”) and sustainability.

BURSASUSTAIN was developed following extensive research, benchmarking and engagement with various stakeholder groups. The hub aims to provide a platform for users, such as listed issuers, investors and other key stakeholders, to have easy access to the latest information on CG and sustainability. Designed to be user-friendly, BURSASUSTAIN contains webcasts, case studies, commentaries, videos, reports, e-learning and weekly news updates from both local and international sources, to serve stakeholders with diverging needs.

The three key pillars housed in BURSASUSTAIN are as follows:

Corporate Governance pillar provides resources that help listed issuers understand the benefits and value of adopting good CG practices. Listed issuers can have a better understanding of managing and improving CG within their company with the availability of all relevant information under this section including the Malaysian Code of Corporate Governance, CG Guide and other guidance as well as various literature.

Sustainability pillar contains tools and resources to inform and inspire listed issuers at different stages of their sustainability journey. This section contains the essentials on sustainability, which includes detailed content on specific sustainability issues that are trending both locally and globally that can help them to improve current practices and drive value over the long term.

Responsible Investment pillar gives investors a better understanding of applying the latest environmental, social and governance (ESG) information alongside their financial and market consideration, which will allow them to make better informed investing decisions.

For more information on BURSASUSTAIN, please visit

[Source: Media release released on Bursa Malaysia’s website on 24 April 2018]



We welcome this newly launched BURSASUSTAIN which improves the quality of the disclosure on corporate governance and sustainability on PLCs for the information of shareholders and potential investors. This would enable our local public listed companies, including their board members, management as well as company secretary to equip themselves with a comprehensive understanding of corporate governance and sustainability while engaging various stakeholders, shareholders and potential investors.



For this week, the following are the AGMs/EGMs of companies which are in the Minority Shareholder Watch Group’s (MSWG) watch list.

The summary of points of interest is highlighted here, while the details of the questions to the companies can be obtained via MSWG’s website at

Date & Time



30.04.18 (Mon)
10.30 am

Petronas Gas Bhd     

Mandarin Oriental Kuala Lumpur, KLCC

30.04.18 (Mon)
02.30 pm

Bintulu Port Holdings Bhd

Putrajaya Marriott Hotel, IOI Resort City, Sepang Utara

02.05.18 (Wed)
10.30 am

Petronas Chemicals Group Bhd

Kuala Lumpur Convention Centre, Jalan Ampang


The points of interest to be raised:


Points/Issues to Be Raised

Petronas Gas Bhd (AGM)

As reported on page 96 of the Annual Report, PGB recorded 33 interruptions under the Key Performance Indicators (“KPI”) of ‘Operational Excellence’ and 31 Non-compliance under the KPI of ‘Efficient & Sustainable System & Work Process.’

The Company has set KPI of ZERO Interruption and ZERO Non-Compliance for 2018.

What are the measures taken to ensure that the Group achieves these KPIs?

Bintulu Port Holdings Bhd (AGM)

On page 23 of the Annual Report, we noted the commencement of Phase 1 operation from June 2017 at Samalaju Industrial Port which has contributed commendable growth in the operating revenue of the Group. Nevertheless, on page 140 of the Annual Report Samalaju Industrial Port Sdn Bhd continues to record a loss before taxation of approximately RM38 million for the financial year ended 2017.

When can we expect Samalaju Industrial Port Sdn Bhd to turn profitable?

Petronas Chemicals Group Bhd (AGM)

As disclosed on page 34 of the Annual Report, PC Fertiliser Sabah commenced its commercial operations in May 2017 and has achieved utilisation rate exceeding 90%.

(i)      How significantly did PC Fertiliser Sabah contribute to the Group’s revenue for FY2017?

(ii)      What is the targeted plant utilisation rate for FY2018?


Headline inflation seen moderating to 2.6% this year

Malaysia's economy to grow the fastest in the region after Philippine in Q1 philippine-q1

Foreign inflows into Bursa Malaysia hit one-year high: Najib

Malaysian House Price Index continues to climb

M’sia to gain from US duties on Chinese plywood imports

Regulations, spectrum cost uptrend and other issues

Is the worst over for property?

Sinotop plans to buy at least 60% in construction outfit Asianmax

Corporate bond issuance rises to RM29.6b in 1Q — RAM—-ram

Maybank to list Etiqa?

Sona Petroleum to distribute remaining cash end-April

Malaysia sees decline in household leverage — Fitch Ratings—-fitch-ratings

Daya Materials in talks with 'many parties' to regularise financial condition

Nestle Malaysia pays RM7.2m interest for intra-group loan

Malaysia expects to lose market share as Indonesia boosts biodiesel exports

KL-Spore HSR AssetCo tender extended to December

Dual-class shares: Is competition for hot listings spurring liberal stance?

More issues with Nigeria-based FPSO seen for Bumi Armada

Perodua Labour Union objects to UMW’s takeover offer  



U.S. yield hits 4-year high; stocks fall on tech sector

Strong China Q1 growth supported by construction, manufacturing

Scandals, Bad Debts at India Banks Threaten Economic Outlook

UK set for more ‘uninspiring’ growth after weak start to 2018

China's ZTE removed chief compliance officer before US sanction, says source

World Bank moves closer to capital boost as US drops objection

China will welcome US treasury secretary visit to talk trade

Bubble? What bubble... says German property company

Hong Kong's US$6.5b intervention mops up 30% of cash

IMF, World Bank should address three shifts

European car sales slow

Wells Fargo agrees to pay US$1b to settle customer abuses

Made in China 2025: Beijing's big ambitions from robots to chips

Hong Kong exchange to announce new listing rules on Tuesday

Thai March export growth seen slowing to 8 percent year-on-year: Reuters poll

A US recession ahead? Fed policymakers say not to worry

China’s economic numbers have a credibility problem

Indonesia keeps rates on hold for 7th month, rules out hike

India’s ATMs are running out of cash

MSWG Analysts

Lya Rahman, General Manager, [email protected]
Rebecca Yap, Head, Corporate Monitoring, [email protected]
Quah Ban Aik, Head, Corporate Monitoring, [email protected]
Norhisam Sidek, Manager, Corporate Monitoring, [email protected]
Wong Kin Wing, Manager, Corporate Monitoring, [email protected]
Hoo Ley Beng, Manager, Corporate Monitoring, [email protected]

Elaine Choo, Manager, Corporate Monitoring, [email protected]
Lee Chee Meng, Manager, Corporate Monitoring, [email protected] 

Abdul Halim Alias, Manager, Corporate Monitoring, [email protected]

Mustaqim Yusof, Analyst, Corporate Services, [email protected]

Muhammad Faris bin Mohamed Yusof, Analyst, Corporate Monitoring [email protected]


•           With regard to the companies mentioned, MSWG holds a minimum number of shares in all these companies covered in this newsletter.

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