PLCs Must Conduct Meetings In Hybrid Or Physical Mode From March 1, 2025

KUALA LUMPUR, Aug 30 (Bernama) -- All public listed companies (PLCs) on Bursa Malaysia must hold hybrid or physical general meetings starting from March 1, 2025, according to the Securities Commission (SC) and Bursa Malaysia Bhd.

In a joint statement, both parties said PLCs were allowed to run fully virtual general meetings during the COVID-19 pandemic, and despite the end of the pandemic, more than 50 per cent of PLCs still conduct fully virtual annual general meetings (AGMs) during the first half of 2024.

 SC chairman Datuk Mohammad Faiz Azmi said while fully virtual meetings served their purpose during the pandemic, it is time for PLCs to transition to hybrid or physical meeting formats.

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“Shareholder meetings, especially AGMs, are important sessions to engage the board and management.

“Domestic and international investors have also expressed their preference for hybrid or physical meetings. It reinforces good governance by promoting transparency and accountability,” he added.

Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said the exchange fully supports the hybrid approach as it strikes the right balance between accessibility and engagement.

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“Leading by example, we ensure greater accessibility and inclusivity for all shareholders, to foster trust and a more engaging dialogue,” he said. 

Muhamad Umar said physical meetings preserve the sanctity of shareholder rights and ensure no one is excluded due to technological barriers.

“While virtual participation enhances accessibility, PLCs should strive to hold general meetings in a hybrid mode or in a physical format. This ensures meaningful shareholder engagement, safeguards shareholder rights, and upholds the integrity of the general meeting process,” he added.

-- BERNAMA