AGM attendees and dates

[V_for_Vanilla]

Another reason....we are just minor shareholders....
I attended kc agm n participate the voting....realtime....
And all resolution approved 90%....the lowest 96%.
Our votes no say wan.

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Cannot really say our votes do not matter. At Kep Infra AGM one of the resolution where major shareholders cannot vote, the result is 80 plus %. I can only conclude that most if not all the time the minority shareholders simply went along with 'for' vote. just like our electoral landscape. Lol

 

[Steyr69]

Cannot really say our votes do not matter. At Kep Infra AGM one of the resolution where major shareholders cannot vote, the result is 80 plus %. I can only conclude that most if not all the time the minority shareholders simply went along with 'for' vote. just like our electoral landscape. Lol

Sad sia.....but those i voted against.....my vote counts only 0.4%.....this is for kc....the voting just for show nia....
I cant blame shareholders just go take free vouchers n jiak bento n buffet.

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[Some-one]

Ok....i just attended kc agm.....i got the sgd20 ntuc voucher. Only tea coffee.....n is served not ownself take.
I was expecting full house....but seemed like only 85% seats filled. The presenter asking everyone to fill seats in front.
I didnt opt to vote during registration, but i see many take the voting dongle....like last time nokia button hp. So i went to the registration n tell the chiobu i forgot to take the voting dongle.
N she asked me whether got take the vouchers....i too honest....told her take liao.....should hv lied n i will get another sgd20 vouchers....lol.
The directors arrived on time.....n true enough like stockbot mentioned, shake hands w front row.
Starting time delayed as there were long queues at registration.
Majority of questions answered by lee boon yang n loh chin hwa. Quite solid. There were a couple of queries on financial statements, so the CFO have to come in.
One question why kc agm n sci agm clashed together.......
As expected, got a couple of weird characters which i think the directors know them well enough.
2 hours n went into voting resolution.....there were resentment on the ground when it comes to non exec director fees......
Here is where i found out my vote counts for nothing.....becoz end result 99% approval. As with many other resolutions.
I didnt stayed to the end....n left....
I ask my neighbor why 99%....n he told me we are just minority shareholders.....our votes wont make much impact.
Anyway eye opener as this is the first time i attend agm.
Final verdict.....next time i just collect the sgd20 voucher n go off....maybe have a sip of tea.
Thanks for reading!

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Your neighbour is right. Minority shareholders can't do much unless we band together. Then only when this time comes, we would be considered as mature as the shareholders in US. I hope that day would come.

 

[Some-one]

Sad sia.....but those i voted against.....my vote counts only 0.4%.....this is for kc....the voting just for show nia....
I cant blame shareholders just go take free vouchers n jiak bento n buffet.

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No bento and buffet for kepcorp

 

[Steyr69]

No bento and buffet for kepcorp

I know....im referring to other agms....lol.
Anyway, abit disheartened to see my votes count for 0.4%........sianz.
Major debate on non directors fee.....
They got an answer for everything....citing the fees are benchmark n had remain the same even when kepcorp are doing good. The fees should not tie in with the performance.

Btw, lee boon yang message is clear there wont be any merger between kep n semb marine....they are rivals.

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[Steyr69]

Tmr might go to NOL Agm.....at bouna vista....think major question will be the acquisition

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[Some-one]

Is it the same guy? Cant be....got a same one at kc agm talking abt sias too....n he keeps asking for loh chin hwa email.....he wants to direct correspond with him.....lol.

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Same guy. He also ask for the email address of Sembcorp chairman Ang Kong Hwa.

 

[Some-one]

Got another one asking why need so many directors????
What do each of them do, what is their competency level?
How engaged are they towards kepcorp.....
Sibei funny sia.....

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I think this is a valid question. Should be asked by either Mano Sabnani or Vincent Chan. Better than the crazy guy who asked how much money is given to SIAS. Then say he got do some research. In the past, this crazy guy even ask if the board employ mindef personnel, then say how bad they are. Waste half an hour on the same thing. He would go each agm to ask the same question.

 

[tmkedmw]

They got an answer for everything....citing the fees are benchmark n had remain the same even when kepcorp are doing good. The fees should not tie in with the performance.

As part of AGM preparations, kepcorp staff have to anticipate many questions and supply "model" answers.

 

[Sai777]

Sad sia.....but those i voted against.....my vote counts only 0.4%.....this is for kc....the voting just for show nia....
I cant blame shareholders just go take free vouchers n jiak bento n buffet.

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The reply does not direct you but rather a knowledge for all.

1. The directors, independant, executive or non executive are proxy for shareholders too; those can be large number of shares

2. Shareholders who do not attend AGM and do not have proxy, their votes go to FOR.

That is why it does not matter if we AGAINST, 'cos the top 15 largest shareholders will only vote FOR. If they dun like the mgt, they will vote with their feet, dump the shares and move on.

 

[Steyr69]

I think this is a valid question. Should be asked by either Mano Sabnani or Vincent Chan. Better than the crazy guy who asked how much money is given to SIAS. Then say he got do some research. In the past, this crazy guy even ask if the board employ mindef personnel, then say how bad they are. Waste half an hour on the same thing. He would go each agm to ask the same question.

Mano is popular....im surprised lee boon yang knows his name....haha....but he went off to attend sci agm....
Not sure whether is vincent chan....coz he suddenly went infront of the mike when it is before the voting of the resolution to reelect the directors.

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[lzydata]

Must be the same guy, did the same at M1 as well, guess I'll see him this Friday at the OCBC AGM as well.

Prob not, if my theory that he only targets GLCs holds true

 

[Steyr69]

posted wrong place, keppel becoming pap, lol

https://edmwcapital.blogspot.sg/2016/04/edmw-capital-keppel-agm-2015.html

Wow....another real time report.......im not sure lee boon yang ask the chap to dump the shares....but he did mention he is free to get shares from the company who had lesser directors.

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[lzydata]

Wow....another real time report.......im not sure lee boon yang ask the chap to dump the shares....but he did mention he is free to get shares from the company who had lesser directors.

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There are always these shareholders with a populist bent - pay the directors less! pay them $1! pay them nothing! - but aiyah, come on. What Lee Boon Yang could also have said was, you want fewer directors who are paid less, you will end up with only small companies. Keppel is a billion-dollar business. It's tough to run even in the best of times, which these are not.

 

[Genosis]

Judging from all the personal descriptions of AGMs so far and my limited experience (only attended one), I would say AGMs are generally like weird fiestas.....

 

[Steyr69]

Judging from all the personal descriptions of AGMs so far and my limited experience (only attended one), I would say AGMs are generally like weird fiestas.....

Can see many interesting characters.....actually all these weird or should i say unique ppl makes the Agm a little more interesting. The last thing i want is straight laced investors asking straight laced questions....n the directors answer back w straight laced answers. That is boring.....

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[lzydata]

Judging from all the personal descriptions of AGMs so far and my limited experience (only attended one), I would say AGMs are generally like weird fiestas.....

We can do with fewer people who are rude, people who rush for food and drinks, people who don't turn their phones to silent mode, people who spend the whole meeting chit-chatting...

 

[sgt4leaf]

Anyone scold an ah pek or ah ma who tell the directors to hurry up so they can go for the food?

 

[coey]

I am surprised no siao lang ask the listco to include what are the "freebies" for attending the agm or anyone asking the listco on the cost of organizing agm in a grand venue

 

[lzydata]

I am surprised no siao lang ask the listco to include what are the "freebies" for attending the agm or anyone asking the listco on the cost of organizing agm in a grand venue

No, no one will complain about getting freebies. But last year at Sembcorp Marine a lady complained for quite a while about how the shuttle bus meetup point was unclear and the process disorganised, and how horrible it was that they were forcing shareholders to attend an AGM at such a ulu place as Tanjong Kling, i.e. their office. She emphasized ulu many times.

This year they switched to NTUC Auditorium in town. Nobody complained about the venue.

P.S.: Just did some annual report digging. This year is the first time since year 2000 that they did not have the AGM at Tanjong Kling.