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Impasse between SCBuild’s board and shareholders

On the last trading day of 2021, the market was taken aback by the twists and turns of events at SC Estate Builder Berhad (SCBuild).  Shareholders rejected the re-election of eight incumbent directors at the AGM on 31 December 2021. The remaining Board members, immediately after the AGM,  re-appointed the eight ousted directors back onto the Board. The said directors comprised executive directors and independent non-executive directors.

The Company’s filing to Bursa Malaysia Securities on the outcome of its AGM indicated that the shareholders rejected the re-election of the eight directors with 54.8% of shares voting “Against” their re-election.

31.12.2021

We would like to wish our readers a Happy New Year. May 2022 bless us with good health, joy and happiness.

A dozen risks and opportunities await minority shareholders in 2022

In a nutshell, 2022 will mark the third successive year the world grapples with unsettled COVID-19 complications which first reared its ugly head at the outset of 2020.

Domestically, 2021 has continued to witness a large degree of socio-economic devastation from loss of livelihoods and business shutdowns due to the imposition of total lockdowns. This was done to contain a spike in COVID-19 infection with the national healthcare system occasionally being stretched to its limit amid high fatality rates.

As the world is anticipated to remain mired in uncertainties for a third year running, below are some scenarios of what Malaysians can expect in the year ahead: