Press Release - The Official Launch of the Company Meeting Survey 2007 and Subscriber Services on 17 Apr 2008

Badan Pengawas Pemegang Saham Minoriti Berhad or better known as Minority Shareholder Watchdog Group (MSWG) has launched its Inaugural Company Meetings Survey 2007 and Subscriber Services.

Company Meetings Survey 2007

The Company Meetings Survey 2007 is undertaken to analyse the level of reporting compliance and best practice by the top 100 public listed companies (PLCs) on Bursa Malaysia Securities Berhad on company meetings under the current legal and regulatory framework of the Companies Act 1965, the Securities Industry Act, the Listing Requirements and the Malaysian Code on Corporate Governance.  The 100 PLCs surveyed were based on market capitalisation as at 31 December 2005 and the 2006 Annual Reports were analysed to determine their reporting compliance.  

The Survey highlights some of the many important issues which cover General Meetings, Board Meetings and Board Committee Meetings. The key findings in this Survey will be useful to investors not only in understanding their rights, but also the proceedings of General Meetings, the nature of Board Meetings and Board Committee Meetings as well as the appropriate disclosures that are essential to enhance their informed decision making.

Focus group interview sessions were also conducted to obtain a realistic understanding on the actual practices concerning reporting on company meetings.  17 out of the top 100 companies surveyed participated in the group discussion.

This Survey is published in collaboration with Universiti Teknologi MARA.  It will be distributed and marketed to the PLCs mentioned in the Survey and other PLCs 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  is available for sale at RM100 each and those interested to purchase this Survey Report can contact MSWG direct at tel nos: (03) 20709090 or e-mail at : watchdog@mswg.org.my.

Subscriber Services

The launch of the Subscriber Services marks another significant milestone for MSWG  in keeping with its objective towards enhancing credibility and achieving sustainability.  Two (2) classes of Subscriber Services are being offered, i.e. Individual Subscribers and Corporate Subscribers.

The annual fees for the Subscriber Services are as follows :-

• Individual Rates

• Corporate Rates

For a limited period, until 30 June 2008, a special 20% discount will be given on the annual fees. Application can be made using the prescribed form which can also be downloaded from MSWG website.

Initially, 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 other 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.

MSWG is targeting for 100 Corporate Subscribers and 1,000 Individual Subscribers by end of 2008.

Under its Reviewed Business Plan 2008 to 2009, various activities which focus primarily on the retail investors and at the same time able to generate income will be carried out in the years 2008 and 2009.  These activities include the following :-

1. Monitoring Services   -  200 public listed companies.
   
   
2. Articles/Commentaries/Interviews/Speaking Engagements  -  90 articles/commentaries/interviews/speaking engagements.
   
   
3. Corporate Governance Survey 2008 (Collaboration with the Nottingham University Business School)  
   -  Covering all public listed companies on Bursa Malaysia Securities Berhad.
   
   
4. Dividend Survey 2008 (Collaboration with the University Teknologi MARA)     -  Covering all public listed companies on Bursa Malaysia Securities Berhad.
   
   
5. Regular Dialogues  
   - To be held with retail investors, institutional shareholders/professional bodies and the Media.
   
   
6. Workshops/Seminars/Training Courses for Retail Investors  
   - With effect from April 2008, to be held every two months either solely by the Company or in collaboration with third parties.
   
   
7. Subscriber Services  
   -  Individual Subscribers and Corporate Subscribers, both local and overseas will be launched on 17 April 2008.
   
   

A Dialogue for the Investing Public and Investor Education Workshop for the Retail Shareholders will also held following the Official Launch of the Company Meetings Survey 2007 and Subscriber Services.

For inquiries please call:

Pn Lya Rahman
Head, Corporate Services
Minority Shareholder Watchdog Group

Tel: (03) 2070 9090
HP: (012) 229 7260
E-mail: watchdog@mswg.org.my / lyarahman@mswg.org.my
Website: www.mswg.org.my

Dated: 17 April 2008