Adapting to a new virtual reality

THIS WEEK'S TOPIC: Should annual general meetings (AGMs) go virtual even post-pandemic? What's needed to ensure that virtual AGMs uphold the spirit of shareholder engagement and corporate transparency?

Yeoh Oon Jin Executive Chairman PwC Singapore

While there was limited past experience of virtual AGMs in the US and UK, the onslaught of Covid-19 would accelerate the wider acceptance of virtual AGMs in Singapore and around the world. However, a hybrid model of virtual and physical would likely emerge as the preferred norm going forward. Virtual means have the benefits of reach and accessibility while physical ones encourage face-to-face participation and engagement. With this being our first season of virtual AGMs in Singapore, extra effort should be taken to provide investors with sufficient notice and information prior to the meeting. Establishing a good meeting protocol is critical to facilitate better participation from the shareholders and the meeting chair would also need to be skillful to encourage participation and guide the virtual proceedings well.