Press Statement - Released on 15 November 2007

Good Morning

Important Friends,

First and foremost, once again I would like to welcome you to our Press Briefing this morning.   This is our fourth Press Briefing for the Year 2007 and the eighth under our 5-Year Business Plan of 2005 to 2009.

The objectives of today’s Press Briefing are two-fold :-

Launching of the Corporate Governance Survey 2007

The Report is a collaborative effort between MSWG and the Nottingham University Business School.  The Report covers separately the following  :-

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 Survey Reports on the top 200 PLCs and 100 small capitalised PLCs are the expanded edition of the preceding reports issued in August 2006.  It contains the findings of the level of compliance of the top 200 PLCs and 100 small-capitalised PLCs with corporate governance principles and best practices.  These PLCs are ranked according to their level of compliance.

MSWG has also produced the first Corporate Governance Survey 2007 on top 40 Second Board and 10 MESDAQ PLCS.

A Corporate Governance Survey Analysis Report providing insights from the 22 PLCS ranked top 20 has also been produced to supplement the Corporate Governance Survey 2007.

An Award Ceremony will also be held to recognize and honour the companies ranked top 10 in the Corporate Governance Survey 2007.

Members of the media are cordially invited to the Official Launch of the Corporate Governance Survey 2007 at Crowne Plaza Mutiara Kuala Lumpur.

The Survey Reports will be available for sale after the official launch.

Latest Status Report on MSWG Activities
MSWG had made significant progress to achieve CREDIBILITY and is on the way towards SUSTAINABILITY by 2009.  The details of the various activities which were successfully carried out by MSWG 1 January to 31 October 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.

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 :-

(i)       MSWG is properly licensed – the Company, CEO and the Head of Client Services possess the required Licenses;

(ii)       Participation as Guest Commentator on TV3 Prime Time Programme “ The Exchange” on eight (8) occasions;

(iii)       Appearance as a Guest on TV2 Programme :  Money Tree;

(iv)      Featured on Prime Time, i.e. TV News which included TV1, TV2, TV3, NT7 and Astro on numerous times;

(v)       Invitations received to attend AGMs/EGMs;

(vi)      MSWG is the Chairman of the panel of judges for the Malaysian Business Corporate Governance Award;

(vii)      Member of the Judging Panel for the CEO of the Year Award;

(viii)     An Adjudicator for the MIA National Annual Corporate Report Awards (NACRA) 2007;

(ix)      Invitation for MSWG to pen a monthly column in the Malaysian Business Magazine;

(x)       Willingness of The Star and Utusan Malaysia to give a Regular Column to MSWG.

(xi)      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;

(xii)      Publication of numerous commentaries and articles from MSWG on topical issues in the newspapers and journals;

(xiii)      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;

(xiv)     Invitation to MSWG for various functions including the initial Star CEO breakfast dialogue and the Annual Budget dialogue with the Finance Ministers;

(xv)      Invitation to be a panelist in the Edge-PwC Roundtable on Board Effectiveness;

(xvi)     Request from the Securities Commission to play a leading role in the setting up of the Institutional Shareholders Committee;

(xvii)    Request by the Securities Commission to undertake Corporate Governance Survey for all the public listed companies;

(xviii)   Appointment as Proxies to attend AGMs/EGMs by various investors;

(xix)     Proposed appointments as Independent Scrutineers by public-listed companies;

(xx)      Briefings by directors and advisers of a number of public listed companies on their corporate restructurings
          and acquisitions;

(xxi)     Holding of Corporate Governance Award Ceremonies and Seminars on Corporate Governance for PLCs,
          institutional and retail shareholders; and

(xxii)    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.

Yours Sincerely,

Abdul Wahab bin Jaafar Sidek
Chief Executive Officer
Minority Shareholder Watchdog Group

Date: 15 November 2007