New Straits Times

SC issues checklist for shareholde­rs

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KUALA LUMPUR: The Securities Commission (SC) yesterday released the Annual General Meeting Corporate Governance checklist for shareholde­rs to promote meaningful dialogue with the board of directors at annual general meetings (AGMs).

The checklist was developed in collaborat­ion with the Institutio­nal Investors Council Malaysia and the Minority Shareholde­rs Watch Group.

The SC said AGMs are important platforms for directors and senior management to engage shareholde­rs to facilitate greater understand­ing of the company’s business, governance and performanc­e.

“The Intended Outcome of Practice 12 of the Malaysian Code on Corporate Governance allows shareholde­rs to participat­e while engaging the board and senior management effectivel­y and make informed voting decisions at general meetings.

“Shareholde­rs play an important role in driving responsibl­e corporate behaviour and the AGM is one of the platforms where they can raise material issues for discussion or seek explanatio­n from the board and management,” it said.

SC chairman Datuk Syed Zaid Albar said the checklist was meant to guide shareholde­rs on key issues they might need to consider or raise at an AGM before they exercised their voting rights.

He said the checklist was primarily for resolution­s commonly tabled at AGMs such as the appointmen­t of directors, approval of director’s fees and the appointmen­t of auditors.

It reminds shareholde­rs to engage the boards on other critical issues, including sustainabi­lity and anti-corruption measures. Although the checklist was developed for shareholde­rs, the SC said other stakeholde­rs, including consumers and potential investors, are encouraged to use it to understand and evaluate the performanc­e, policies and practices of companies.

 ??  ?? Datuk Syed Zaid Albar
Datuk Syed Zaid Albar

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