New study on Singapore AGMs finds practices lacking

ANNUAL general meetings (AGMs) by listed companies in Singapore are still concentrated around the usual peak periods in April, July and October - making it difficult for investors holding shares in multiple companies to attend more meetings.

This was among a multitude of findings on AGM practices here in "The Singapore Report on Shareholder Meetings: Shareholders Awaken?" released on Monday evening. The report, supported by the Singapore Exchange (SGX), was authored by well-known corporate governance advocate Associate Professor Mak Yuen Teen, as well as active investor and MBA holder Chew Yi Hong.

It looked at 711 AGMs and 195 extraordinary general meetings (EGMs) held in 2015 by 715 companies with a primary listing on the SGX.

Among other things, the report examined how prompt companies were in holding their AGMs and in notifying shareholders of their AGMs, as well as how shareholders voted on issues such as director elections and share consolidation. It also listed eight recommendations to improve AGMs and shareholder engagement here.