19 January 2012
Hello everyone, and welcome to 2012!
It’s been just two weeks into the new year and already we seem to be awash with fresh corporate exercises hogging the headlines, including Kian Joo/CanOne, Khazanah’s sale of Proton to DRB-Hicom, the KFC/QSR takeover by JCorp and the competing offer from the Malay Chamber of Commerce, and developments in the takeover of OSK Investment Bank by RHB Capital. It looks like despite the worsening global outlook, Malaysia’s 2012 could be a healthy one for capital market activities. However, we would as ever warn minority shareholders to invest wisely and do proper research before spending even one sen.
If we look back at 2011, there was no shortage of CG disasters, with MF Global and Olympus still fresh in our memories. In Malaysia, much the same can be said, and this is a situation echoed in polls conducted by The Edge newspaper on their website over the course of the year, which demonstrated a keen desire for much more regulatory oversight of our markets. In one such poll, 86 percent of respondents felt that quarterly reporting should be maintained. This is a stance with which we agree, since minorities have so little access to company officers and are already prejudiced in terms of available information, as compared to fund managers and investment analysts that readily have more access to management.
The fact that many of these respondents want even more severe penalties - on top of the jail terms being imposed - confirms this. Hopefully, this will be a year where we see significant progress being made on the CG front, to add to the progress we collectively made last year.
Gong Xi Fa Cai! Happy Chinese New Year! Wishing you all a safe journey "balik kampung" and a joyous and prosperous Year of the Dragon!
Rita Benoy Bushon
Upcoming AGMs / EGMs
| 30 Jan 2012 | Lion Corporation Bhd |
| 31 Jan 2012 | Chin Teck Plantations Bhd |
| 31 Jan 2012 | Leader Universal Holdings Bhd |
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