07.08.2020
Virtual platform providers must not be scrutineers
MSWG has noted instances where the meeting platform providers for virtual general meetings, or its related organization, also double up as the Scrutineers. This is a conflict of interest.
According to Paragraph 8.29A (2) of Bursa Malaysia Listing Requirements, listed issuer is required to appoint at least one Scrutineer to validate the votes cast at a general meeting.
The Requirements further state that the Scrutineer must not be an officer of the listed issuer and must be independent of the person undertaking the polling process.
Arguably, the meeting platform providers, or its related organization, who also involves in the virtual polling process, can be deemed as, or as a part of, the ‘person undertaking the polling process’.
The Best Practice Guide on AGMs for Listed Issuers, issued by The Malaysian Institute of Chartered Secretaries and Administrators (MAICSA), outlines the roles of Scrutineers.
