AGM attendees and dates

[tmkedmw]

simi is attendance fees???

From what moi know, Board members are being paid say $1k-$3k for taking time to attend Board Meetings, which typically happens every quarter.

If Board member from overseas, all transportation also bao ka liao, including biz class/1st class tickets.

 

[akwl88]

From what moi know, Board members are being paid say $1k-$3k for taking time to attend Board Meetings, which typically happens every quarter.

If Board member from overseas, all transportation also bao ka liao, including biz class/1st class tickets.

what the ?@#$@# how come shareholders also not paid that amt to attend agm???

 

[Kinetic88]

If moi there, moi wld jitao retort and ask the Chairman, how would extra $10/head for better food for say 1000 attendees translate to less dividend, and if so, total dividend for distribution to share holder is lesser by only $10k nia nia. Directors pay themselves more (attendance fees) just to attend quarterly Board Meetings.

Bottom line is what's the additional cost of allowing indirect shareholders vs the amount set aside for dividend distribution.

for those who hold 1,000 share for a declared dividend of $0.02, S$10.00 ish alot, 1/2 of the dividend.

the cost of cater to additional attendees (the number of cpf investros are a huge),beside food and vouchers, there are other logistic consideration like a bigger venus and etc etc.

 

[Perisher]

the additional cost (money) ish from the share holder pocket.

moi remember in 1 of the agm, a guy ask for better food and the chairman replied chiu want better dividend or better food ?

The additional money had to come from some where.

You like that say might as well no AGM, go online do AGM, cheaper.

 

[Kinetic88]

You like that say might as well no AGM, go online do AGM, cheaper.

well, with the advancement of technology, this might happen.

AFAIK, some companies doing equity analysts briefing vide video conferencing.

remember last times they used to send chiu annual report ? now they only send when chiu asked for it, but of cos not all companies doing it.

 

[tmkedmw]

for those who hold 1,000 share for a declared dividend of $0.02, S$10.00 ish alot, 1/2 of the dividend.

the cost of cater to additional attendees (the number of cpf investros are a huge),beside food and vouchers, there are other logistic consideration like a bigger venus and etc etc.

1st point is about a token $10k deduction from the amt the company set aside for dividend distribution. Dividend policy varies between companies, so what the individual shareholder receives is not just simply earnings/no of shares.
As an example, company may choose to retain 80% of its earnings and just distribute 20% as dividend.

2nd point about logistics is valid as moi got no idea on the quantum needed for differential rental cost.

 

[Perisher]

well, with the advancement of technology, this might happen.

AFAIK, some companies doing equity analysts briefing vide video conferencing.

remember last times they used to send chiu annual report ? now they only send when chiu asked for it, but of cos not all companies doing it.

So either give all shareholders the right to attend or all go online. Fair enough.

 

[Kinetic88]

1st point is about a token $10k deduction from the amt the company set aside for dividend distribution. Dividend policy varies between companies, so what the individual shareholder receives is not just simply earnings/no of shares.
As an example, company may choose to retain 80% of its earnings and just distribute 20% as dividend.

2nd point about logistics is valid as moi got no idea on the quantum needed for differential rental cost.

moi tiagong, (tiagong only hor) Kep corp spent closed to a few hundred thousand $$ on the vouchers.

so with the additional CPF share holders, the amount will be much more.

 

[tmkedmw]

moi tiagong, (tiagong only hor) Kep corp spent closed to a few hundred thousand $$ on the vouchers.

so with the additional CPF share holders, the amount will be much more.

True, if assuming Kep will continue to issue $20 ntuc voucher.
They can choose to drop that altogether, or reduce the amount.
eg ST Engrg gives zero voucher/zero food this year, just coffee, tea or me

 

[Steyr69]

what the ?@#$@# how come shareholders also not paid that amt to attend agm???

Already given in the form of vouchers n meals....take it or leave it.
After attending 3 Agms, shareholders like us are always at the losing end.
Im quite piss after knowing the directors still pay themselves gao gao at the expense of shareholders.
I never attend agm last time....this year exception.
Theres always a start n moving forward, i will scrutinize the company reports more thoroughly.
If situation allows, i will take to the mike n blast the directors in the next agm.....starting w the cosco ah tiong ones.
I find sinkie shareholders very meek n too polite when it comes to questioning directors abt dividends n stuffs.
No fire at all. The directors also bo hiew since you so gentlemen.

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[Perisher]

moi tiagong, (tiagong only hor) Kep corp spent closed to a few hundred thousand $$ on the vouchers.

so with the additional CPF share holders, the amount will be much more.

Actually, the solution to this is to limit seats to 300 or something. All other shareholders can send their questions via other medium.
The 300 seats need to bid lor, like mm2 movie tix. Using few hundred thousand is a waste of $$.

 

[Steyr69]

moi tiagong, (tiagong only hor) Kep corp spent closed to a few hundred thousand $$ on the vouchers.

so with the additional CPF share holders, the amount will be much more.

Small change to them....they just add the extra cost to their directors fee lor....what so difficult? 99% resolution sure carried.

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[Kinetic88]

True, if assuming Kep will continue to issue $20 ntuc voucher.
They can choose to drop that altogether, or reduce the amount.
eg ST Engrg gives zero voucher/zero food this year, just coffee, tea or me

due to the current economic down turn, many companies are trying their best to cut cost, be it cut down on the number of employees or try to save from all other expenses, like flying budget for management etc etc.

 

[tmkedmw]

due to the current economic down turn, many companies are trying their best to cut cost, be it cut down on the number of employees or try to save from all other expenses, like flying budget for management etc etc.

ST Engineering actually use the "multiple proxies" reason to do a no frills AGM.

http://www.straitstimes.com/business/st-engineering-holds-no-frills-agm

partial extract below:

ST Engineering's AGM seemed to be a step down, some investors said. After all, each attendee received a $15 FairPrice voucher last year.

But an ST Engineering spokesman said: "We want shareholders to concentrate on the issues at hand - our business plan, shareholder return, corporate governance and performance."

The spokesman noted that it was "no longer feasible" for the firm to give vouchers to all present.

"As a result of the new multiple proxies regime under the Companies Act amendment, attendance at our AGM could potentially increase significantly."

Shareholders were notified in a letter sent with their AGM notice that vouchers would not be given at future meetings, said the spokesman.

 

[Kinetic88]

ST Engineering actually use the "multiple proxies" reason to do a no frills AGM.

http://www.straitstimes.com/business/st-engineering-holds-no-frills-agm

partial extract below:

ST Engineering's AGM seemed to be a step down, some investors said. After all, each attendee received a $15 FairPrice voucher last year.

But an ST Engineering spokesman said: "We want shareholders to concentrate on the issues at hand - our business plan, shareholder return, corporate governance and performance."

The spokesman noted that it was "no longer feasible" for the firm to give vouchers to all present.

"As a result of the new multiple proxies regime under the Companies Act amendment, attendance at our AGM could potentially increase significantly."

Shareholders were notified in a letter sent with their AGM notice that vouchers would not be given at future meetings, said the spokesman.

see what moi posted earlier on the costs for increased share holder attending agm ?

 

[Kinetic88]

Actually, the solution to this is to limit seats to 300 or something. All other shareholders can send their questions via other medium.
The 300 seats need to bid lor, like mm2 movie tix. Using few hundred thousand is a waste of $$.

it sound logical but how many share holder can accept this ?

even with S$20.00 vouchers, there are still got ppl kpkb say Y not 2 S$10.00 vouchers for easier to use ?

 

[Dividends Warrior]

ST Engineering actually use the "multiple proxies" reason to do a no frills AGM.

http://www.straitstimes.com/business/st-engineering-holds-no-frills-agm

partial extract below:

ST Engineering's AGM seemed to be a step down, some investors said. After all, each attendee received a $15 FairPrice voucher last year.

But an ST Engineering spokesman said: "We want shareholders to concentrate on the issues at hand - our business plan, shareholder return, corporate governance and performance."

The spokesman noted that it was "no longer feasible" for the firm to give vouchers to all present.

"As a result of the new multiple proxies regime under the Companies Act amendment, attendance at our AGM could potentially increase significantly."

Shareholders were notified in a letter sent with their AGM notice that vouchers would not be given at future meetings, said the spokesman.

Budget AGM.

 

[w1rbelw1nd]

I think the mentality of the shareholders is the problem. See how many Gian png Gian voucher pple here makes me really pessimistic about the level of scrutiny that shareholders impose on the BoD and the snr mgmt of the company.

Gg SG-listed companies... I rather put more money in foreign listed etfs lol

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[Kinetic88]

Already given in the form of vouchers n meals....take it or leave it.
After attending 3 Agms, shareholders like us are always at the losing end.
Im quite piss after knowing the directors still pay themselves gao gao at the expense of shareholders.
I never attend agm last time....this year exception.
Theres always a start n moving forward, i will scrutinize the company reports more thoroughly.
If situation allows, i will take to the mike n blast the directors in the next agm.....starting w the cosco ah tiong ones.
I find sinkie shareholders very meek n too polite when it comes to questioning directors abt dividends n stuffs.
No fire at all. The directors also bo hiew since you so gentlemen.

Sent from Asus ME173X using GAGT

chiu can use all the xxxx to **** them but at the end of the agm, the resolutions still pass with 100% votes.

directors still enjoy their perks : share options, free car/petrol or even travelling, holiday in the name of meeting oversea etc etc.

share holder are sucker.

 

[tmkedmw]

see what moi posted earlier on the costs for increased share holder attending agm ?

Stuff released by PR of public listed company, moi always take it with a pinch of salt. They can use whatever they think is the "politically correct" answer.

Bottom line is still what moi posted earlier:
"what's the additional cost" vs amount set aside for dividend distribution.

If the additional cost is just a small tiny sub percentage of amt set aside for dividend distribution, then it really is no issue.

On the contrary, if Directors pay themselves more despite company earning less, then they shld be questioned jialat jialat...