30.04.2018
MARKET AND REGULATORY UPDATE
BURSA MALAYSIA LAUNCHES BURSASUSTAIN, A ONE-STOP KNOWLEDGE HUB ON CORPORATE GOVERNANCE AND SUSTAINABILITY
Bursa Malaysia has launched BURSASUSTAIN, a comprehensive online portal designed as a one-stop knowledge and information hub on corporate governance (“CG”) and sustainability.
BURSASUSTAIN was developed following extensive research, benchmarking and engagement with various stakeholder groups. The hub aims to provide a platform for users, such as listed issuers, investors and other key stakeholders, to have easy access to the latest information on CG and sustainability. Designed to be user-friendly, BURSASUSTAIN contains webcasts, case studies, commentaries, videos, reports, e-learning and weekly news updates from both local and international sources, to serve stakeholders with diverging needs.
The three key pillars housed in BURSASUSTAIN are as follows:
Corporate Governance pillar provides resources that help listed issuers understand the benefits and value of adopting good CG practices. Listed issuers can have a better understanding of managing and improving CG within their company with the availability of all relevant information under this section including the Malaysian Code of Corporate Governance, CG Guide and other guidance as well as various literature.
Sustainability pillar contains tools and resources to inform and inspire listed issuers at different stages of their sustainability journey. This section contains the essentials on sustainability, which includes detailed content on specific sustainability issues that are trending both locally and globally that can help them to improve current practices and drive value over the long term.
Responsible Investment pillar gives investors a better understanding of applying the latest environmental, social and governance (ESG) information alongside their financial and market consideration, which will allow them to make better informed investing decisions.
For more information on BURSASUSTAIN, please visit https://bursasustain.bursamalaysia.com
[Source: Media release released on Bursa Malaysia’s website on 24 April 2018]
MSWG’S COMMENTS:
We welcome this newly launched BURSASUSTAIN which improves the quality of the disclosure on corporate governance and sustainability on PLCs for the information of shareholders and potential investors. This would enable our local public listed companies, including their board members, management as well as company secretary to equip themselves with a comprehensive understanding of corporate governance and sustainability while engaging various stakeholders, shareholders and potential investors.
MSWG’S AGM WEEKLY WATCH 30 APRIL 2018 – 4 MAY 2018
For this week, the following are the AGMs/EGMs of companies which are in the Minority Shareholder Watch Group’s (MSWG) watch list.
The summary of points of interest is highlighted here, while the details of the questions to the companies can be obtained via MSWG’s website at www.mswg.org.my.
|
Date & Time |
Company |
Venue |
|
30.04.18 (Mon) |
Petronas Gas Bhd |
Mandarin Oriental Kuala Lumpur, KLCC |
|
30.04.18 (Mon) |
Bintulu Port Holdings Bhd |
Putrajaya Marriott Hotel, IOI Resort City, Sepang Utara |
|
02.05.18 (Wed) |
Petronas Chemicals Group Bhd |
Kuala Lumpur Convention Centre, Jalan Ampang |
|
The points of interest to be raised: |
|
|---|---|
|
Company |
Points/Issues to Be Raised |
|
Petronas Gas Bhd (AGM) |
As reported on page 96 of the Annual Report, PGB recorded 33 interruptions under the Key Performance Indicators (“KPI”) of ‘Operational Excellence’ and 31 Non-compliance under the KPI of ‘Efficient & Sustainable System & Work Process.’ The Company has set KPI of ZERO Interruption and ZERO Non-Compliance for 2018. What are the measures taken to ensure that the Group achieves these KPIs? |
|
Bintulu Port Holdings Bhd (AGM) |
On page 23 of the Annual Report, we noted the commencement of Phase 1 operation from June 2017 at Samalaju Industrial Port which has contributed commendable growth in the operating revenue of the Group. Nevertheless, on page 140 of the Annual Report Samalaju Industrial Port Sdn Bhd continues to record a loss before taxation of approximately RM38 million for the financial year ended 2017. When can we expect Samalaju Industrial Port Sdn Bhd to turn profitable? |
|
Petronas Chemicals Group Bhd (AGM) |
As disclosed on page 34 of the Annual Report, PC Fertiliser Sabah commenced its commercial operations in May 2017 and has achieved utilisation rate exceeding 90%. (i) How significantly did PC Fertiliser Sabah contribute to the Group’s revenue for FY2017? (ii) What is the targeted plant utilisation rate for FY2018? |
LOCAL NEWS AND DEVELOPMENTS
Headline inflation seen moderating to 2.6% this year
http://www.thesundaily.my/news/2018/04/18/headline-inflation-seen-moderating-26-year
Malaysia's economy to grow the fastest in the region after Philippine in Q1
Foreign inflows into Bursa Malaysia hit one-year high: Najib
http://www.thesundaily.my/news/2018/04/21/foreign-inflows-bursa-malaysia-hit-one-year-high-najib
Malaysian House Price Index continues to climb
http://www.theedgemarkets.com/article/malaysian-house-price-index-continues-climb
M’sia to gain from US duties on Chinese plywood imports
Regulations, spectrum cost uptrend and other issues
Is the worst over for property?
https://www.thestar.com.my/business/business-news/2018/04/21/is-the-worst-over-for-property/
Sinotop plans to buy at least 60% in construction outfit Asianmax
http://www.theedgemarkets.com/article/sinotop-plans-buy-least-60-stake-construction-outfit-asianmax
Corporate bond issuance rises to RM29.6b in 1Q — RAM
http://www.theedgemarkets.com/article/corporate-bond-issuance-rises-rm296b-1q-—-ram
Maybank to list Etiqa?
http://www.theedgemarkets.com/article/maybank-list-etiqa
Sona Petroleum to distribute remaining cash end-April
http://www.theedgemarkets.com/article/sona-petroleum-distribute-remaining-cash-endapril
Malaysia sees decline in household leverage — Fitch Ratings
http://www.theedgemarkets.com/article/malaysia-sees-decline-household-leverage-—-fitch-ratings
Daya Materials in talks with 'many parties' to regularise financial condition
Nestle Malaysia pays RM7.2m interest for intra-group loan
https://www.malaymail.com/s/1622136/nestle-malaysia-pays-rm7.2m-interest-for-intra-group-loan
Malaysia expects to lose market share as Indonesia boosts biodiesel exports
KL-Spore HSR AssetCo tender extended to December
http://www.theedgemarkets.com/article/klspore-hsr-assetco-tender-extended-december
Dual-class shares: Is competition for hot listings spurring liberal stance?
More issues with Nigeria-based FPSO seen for Bumi Armada
http://www.theedgemarkets.com/article/more-issues-nigeriabased-fpso-seen-bumi-armada
Perodua Labour Union objects to UMW’s takeover offer
http://www.theedgemarkets.com/article/perodua-labour-union-objects-umws-takeover-offer
GLOBAL NEWS AND DEVELOPMENTS
U.S. yield hits 4-year high; stocks fall on tech sector
http://www.theedgemarkets.com/article/us-yield-hits-4year-high-stocks-fall-tech-sector
Strong China Q1 growth supported by construction, manufacturing
Scandals, Bad Debts at India Banks Threaten Economic Outlook
http://www.theedgemarkets.com/article/scandals-bad-debts-india-banks-threaten-economic-outlook
UK set for more ‘uninspiring’ growth after weak start to 2018
https://www.malaymail.com/s/1622953/uk-set-for-more-uninspiring-growth-after-weak-start-to-2018
China's ZTE removed chief compliance officer before US sanction, says source
World Bank moves closer to capital boost as US drops objection
China will welcome US treasury secretary visit to talk trade
http://www.thesundaily.my/news/2018/04/22/china-will-welcome-us-treasury-secretary-visit-talk-trade
Bubble? What bubble... says German property company
Hong Kong's US$6.5b intervention mops up 30% of cash
http://www.theedgemarkets.com/article/hong-kongs-us65b-intervention-mops-30-cash
IMF, World Bank should address three shifts
European car sales slow
https://www.thestar.com.my/business/business-news/2018/04/19/european-car-sales-slow/
Wells Fargo agrees to pay US$1b to settle customer abuses
https://www.malaymail.com/s/1622570/wells-fargo-agrees-to-pay-us1b-to-settle-customer-abuses
Made in China 2025: Beijing's big ambitions from robots to chips
http://www.theedgemarkets.com/article/made-china-2025-beijings-big-ambitions-robots-chips
Hong Kong exchange to announce new listing rules on Tuesday
http://www.theedgemarkets.com/article/hong-kong-exchange-announce-new-listing-rules-Tuesday
Thai March export growth seen slowing to 8 percent year-on-year: Reuters poll
A US recession ahead? Fed policymakers say not to worry
https://www.malaymail.com/s/1622641/a-us-recession-ahead-fed-policymakers-say-not-to-worry
China’s economic numbers have a credibility problem
http://www.theedgemarkets.com/article/chinas-economic-numbers-have-credibility-problem
Indonesia c.bank keeps rates on hold for 7th month, rules out hike
http://www.theedgemarkets.com/article/indonesia-cbank-keeps-rates-hold-7th-month-rules-out-hike
India’s ATMs are running out of cash
http://www.theedgemarkets.com/article/indias-atms-are-running-out-cash
MSWG Analysts
Lya Rahman, General Manager, [email protected]
Rebecca Yap, Head, Corporate Monitoring, [email protected]
Quah Ban Aik, Head, Corporate Monitoring, [email protected]
Norhisam Sidek, Manager, Corporate Monitoring, [email protected]
Wong Kin Wing, Manager, Corporate Monitoring, [email protected]
Hoo Ley Beng, Manager, Corporate Monitoring, [email protected]
Elaine Choo, Manager, Corporate Monitoring, [email protected]
Lee Chee Meng, Manager, Corporate Monitoring, [email protected]
Abdul Halim Alias, Manager, Corporate Monitoring, [email protected]
Mustaqim Yusof, Analyst, Corporate Services, [email protected]
Muhammad Faris bin Mohamed Yusof, Analyst, Corporate Monitoring [email protected]
DISCLOSURE OF INTERESTS
• With regard to the companies mentioned, MSWG holds a minimum number of shares in all these companies covered in this newsletter.
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This newsletter and the contents thereof and all rights relating thereto including all copyright is owned by the Badan Pengawas Pemegang Saham Minoriti Berhad, also known as the Minority Shareholder Watch Group (MSWG).
The contents and the opinions expressed in this newsletter are based on information in the public domain and are intended to provide the user with general information and for reference only. Best efforts have been made to ensure that the information contained in this newsletter is accurate and current as at the date of publication. However, MSWG makes no express or implied warranty as to the accuracy or completeness of any such information and opinions contained in this newsletter. No information in this newsletter is intended to be or should be construed as a recommendation to buy or sell or an invitation to subscribe for any, of the subject securities, related investments or other financial instruments thereof.
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MSWG bears no responsibility or liability for any reliance on any information or comments appearing herein or for reproduction of the same by third parties. All readers or investors are advised to obtain legal or other professional advice before taking any action based on this newsletter.
