Annual General Meeting
Summary of proceedings and salient points raised during the Fifteenth Annual General Meeting of the Company ("15th AGM" or "the Meeting") held on 25 April 2019
|Present :||Mr. Leong Keng Yuen (Chairman)|
|Mr. Yee Chee Wai|
|Ms. Ong Yee Min|
|Dr. Ngo Get Ping|
|Dato’ Thanarajasingam Subramaniam|
Mr. Leong Keng Yuen ("Mr. Chairman") chaired the 15th AGM of the Company. Mr. Chairman called the meeting to order at 10:00 a.m. after confirmation of the requisite quorum being present pursuant to Article 54 of the Company’s Articles of Association.
Mr. Chairman informed that in compliance with the Rule 8.31A of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, all resolutions set out in the notice of general meeting shall be voted by poll.
Pursuant to the above and Article 58 of the Company’s Articles of Association, Mr. Chairman exercised his right to direct the vote on all resolutions of the Meeting to be conducted by way of poll.
Mr. Chairman further informed that Securities Services (Holdings) Sdn. Bhd., the Share Registrar, has been appointed to act as the Poll Administrator and Commercial Quest Sdn. Bhd. has been appointed as the Independent Scrutineer to verify the results of the poll voting.
Mr. Chairman invited questions in respect of each resolution proposed at 15th AGM of the Company. The questions raised during the Meeting were duly answered and clarified by the Directors and the questions are as below:
What is the ratio of the Company’s existing businesses that are invested in-house and managed by external parties, as well as its percentage of investments in Malaysia and overseas?
Mr. Patrick Yee Chee Wai ("Mr. Patrick Yee") replied that all investments are managed in-house. Mr. Chairman added that, as a venture capital company, the Company’s main focus is to invest in high growth start-up and the Company always explore for the right company to invest in. In the meantime, the Company would ensure the best use of the Company’s funds.
Mr. Patrick Yee further informed that the Company’s businesses comprised one-third in private equity investments and the remaining in public equity investments, out of which the portfolio is quite evenly spread between Malaysia and overseas.
What is the Company’s outlook for the financial year 2019 and the Company’s performance for the first quarter ended 31 March 2019 ("1Q19") as well as the possibility of any payment of dividend soon?
Mr. Patrick Yee replied that the unaudited results for the 1Q19 is expected to be positive and the Company’s is aiming for the payment of dividend if the Company’s performance for the financial year 2019 improved.
All the resolutions tabled at 15th AGM of the Company held on 25 April 2019 were duly passed by the shareholders as set out in the Notice of 15th AGM. The shareholders also received the Audited Financial Statements of the Company and of the Group, together with the Reports of the Directors and Auditors thereon, for the financial year ended 31 December 2018. The poll results are as follows:
Mr. Chairman, being the interested Director in Ordinary Resolution 1 and Ordinary Resolution 2, had abstained from voting on the aforesaid resolutions at the 15th AGM.
There being no other business, Mr. Chairman concluded the 15th AGM and thanked all present for their attendance. The meeting ended at 10:45 a.m, with a vote of thanks to the Chair.