Voting before getting answers: the farcical way shareholders' meetings are conducted now

AS THE pandemic intensifies and companies continue to be compelled to hold their shareholder meetings virtually, a truly ludicrous situation has developed here in Singapore: shareholders are now casting their votes on important issues days before hearing the answers to their questions from the company's board and management.

It is a situation that cannot be allowed to persist, not least because of how it robs a shareholder of his rights, and especially when the technology exists - in the form of secure, live voting - for companies to field questions before votes are cast.

Singapore's regulators need to take a firm stand on this issue, and consider mandating the use of live voting at all virtual annual general meetings (AGMs) and extraordinary general meetings (EGMs) to ensure that shareholders' rights are safeguarded and that the spirit behind such meetings is upheld.