Kenyataan Media
AGM BEST PRACTICE GUIDE FOR LISTED COMPANIES LAUNCHED WITH THE SUPPORT OF BURSA MALAYSIA.
Kuala Lumpur, 21 November 2016 – A Best Practice Guide on Annual General Meetings (“AGM Guide”) by the Malaysian Institute of Chartered Secretaries and Accountants (“MAICSA”) was launched today. The AGM Guide which is supported by Bursa Malaysia Berhad (“Bursa Malaysia”) aims to provide guidance for directors of public listed companies (PLCs) in conducting AGMs, and ensuring that the AGM is managed and conducted in a transparent manner and in the best interests of the shareholders.
Bursa Malaysia Chairman, Tan Sri Amirsham A. Aziz said: “Bursa Malaysia believes companies that proactively demonstrate their commitment and facilitate the exercise of ownership rights will help build trust in their shareholder relationships and this will result in enhanced long term sustainable value to the company. Globally, the concept of “responsible ownership” is gaining momentum where shareholders are seeking greater dialogue with the executives and the board of directors of their investee companies on expanding arrays of topics”.
“The AGM continues to be the main platform where shareholders or investors have the opportunity to engage with the Board and senior management in one session Hence, it is important for directors to be sufficiently prepared for the AGM and to practise the highest level of corporate governance in order to facilitate effective exercise of shareholders’ rights,” Tan Sri Amirsham A. Aziz added.
Bursa Malaysia commends this effort by MAICSA to issue the AGM Guide. The Guide, will aid listed companies as they seek to improve the quality of the conduct of the AGM. It has practical considerations, including common issues encountered in an AGM, best practices adopted both locally and overseas, and makes reference to Malaysian laws, regulations, requirements and case studies. It is the expectation of Bursa Malaysia for listed companies to make reference to the Guide to ensure good conduct of AGMs.
Bursa Malaysia will continue to observe and monitor the conduct of AGMs in Malaysia as part of efforts to nurture good corporate governance practices and will continuously engage with listed companies to identify gaps in current practice to ensure better conduct of AGMs.