Why CPF Investors can only attend as observers?

[CityFarmer]

Finally some good news

Mr Tharman also highlighted changes targeted at encouraging greater shareholder activism among retail investors.

These include putting in place a multiple proxies regime for indirect investors, including CPF investors.

Nominee companies and custodian banks will be allowed to appoint more than two proxies so that indirect investors can be appointed as proxies to participate in shareholders' meetings.

http://www.channelnewsasia.com/stories/s...84/1/.html

This should be long overdue.

On top of that, new changes mostly favor minority shareholder, which another good news for minority shareholders.

[opmi]

Hi

Does anyone know if CPF holders of shares can attend and vote at AGM??

Thanks

[d.o.g.]

Hi

Does anyone know if CPF holders of shares can attend and vote at AGM??

Thanks

The Companies Act has been amended and since 3 Jan 2016, as per:

https://www.acra.gov.sg/Legislation/Comp...n_Phase_2/

Section 181 has been amended to allow indirect shareholders such as CPF investors to attend and vote, under the multiple proxies regime. This does not give CPF investors the automatic right to show up and vote, they still have to be appointed as proxies.

If CPF implements an automatic proxy system like how some Bermuda-incorporated companies did (they sent out a notice appointing all shareholders as voting proxies by default) then it's fine, otherwise you have to send in a notice with your details so they can register you as a proxy for the AGM.

[opmi]

d.o.g., thanks for the info.

mmm...wonder if CPF Agent banks are ready to appoint proxy for the coming AGMs. Will find out later.