MSWG Weekly Newsletter 22 September 2023 (English)

Shareholders stand to gain with more women directors and IDs on board

ACE Market-listed Genetec Technology Bhd should not consider as burdensome the criteria set forth by SC that its proposed listing transfer to the Main Market of Bursa Malaysia can only materialise upon its corporate governance enhancement by raising the number of independent directors on its board to over 50% and women directors to 30%.

Reading between the lines, these are two requirements that aspiring debutants to the Main Market must comply with

MSWG Weekly Newsletter 15 September 2023 (English)

Costly misjudgements at the expense of minority shareholders

There is little doubt that the optimism to ride on the EV boom cost Fitters dearly with a loss of RM26.3 million recorded on its book.

Amid brouhaha from the public, Fitters insisted that the acquisitions and disposals of Computer Form’s securities back in March 2023 were undertaken in the best interest of the Company after taking into consideration the rationale for the transactions.

With hindsight, Fitters may suffer even wider losses should it fail to dispose of CFM shares on time. However, such losses would have been avoided if not for the ill-timed investments into CFM. Damage has been done and the question is where the accountability should lie