Making AGM bunching just a number and no longer a governance issue
All stakeholders can improve the overall process to ensure a transparent and robust capital market
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Singapore
IN recent weeks much has been said in the press about a large number of companies holding their AGMs in the last week of April. According to our check from announcements through the Singapore Exchange (SGX), there are about 311 company meetings (AGMs and EGMs) held on the last five days of April this year. Unfortunately, we do not expect the situation to improve as companies and their auditors are required to do more with the introduction of the enhanced auditor's reporting kicking in, as well as the requirement for companies to "comply or explain" on sustainability reporting.
The complaint, therefore, is that shareholders who hold shares in multiple companies are unable to attend AGMs and to participate. A right that must be honoured and good for the development of good corporate governance. Without accountability, a shareholder can never be happy and the company may lose its investors. SIAS fully understands their predicament.
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