The Report on 2020 Annual General Meeting of Public Listed Companies, a joint study between MSWG and the Universiti Kebangsaan Malaysia to analyse AGM practices of PLCs in 2020 has highlighted three areas of concern, namely the Q&A session, board attendance and the role of chairman. In the report, we have also suggested some areas of improvement for PLCs in conducting their AGMs moving forward.
In its recently published annual report, SC said its assessment found that RPTs pose significant effect on share price on the day after the RPT announcements were made. It also found that there were above-average price movements on the day leading up to the RPT announcements. This suggested that there could be leakages of price-sensitive information before RPT announcements were made publicly.
On the other hand, SC’s assessment on several large RPTs also suggested that RPTs involving PLCs within family groups and those with long-serving IDs may require closer monitoring to ensure that the transactions are not detrimental to minority shareholders.
Are two heads better than one?
In the shipping realm, there is a leadership attribute hinting that we can have two skippers on the same ship, but we cannot afford to have two destinations for there is where failure starts.
However, in the kitchen realm, we are often reminded of the age-old adage of too many cooks spoil the broth although large restaurants do welcome more than one chef to ensure its success.
In the same light, it is no longer uncommon in today’s corporate world for some companies to pursue the co-CEO or joint chief executive model of leadership.
While having two heads can be better than having one, such co-leadership model demands professionalism and mutual understanding par excellence from both heads lest the ensuing leadership falls apart.
A rarity at best among Bursa Malaysia-listed companies, Berjaya Corporation Berhad (BJCorp) has joined the fray recently with the appointment of company veterans Vivienne Cheng Chi Fan and Syed Ali Shahul Hameed as joint group CEOs, effective 1 April 2022. This follows the departure of Abdul Jalil Abdul Rasheed as group CEO of the company effective 31 March 2022.