All public listed companies (PLCs) on Bursa Malaysia must hold hybrid or physical general meetings from 1 March 2025, the Securities Commission Malaysia (SC) and Bursa Malaysia Berhad announced today.
During the COVID-19 pandemic period, PLCs were allowed to run fully virtual general meetings. However, despite the end of the pandemic, it has been observed that more than 50% of PLCs still conduct fully virtual annual general meetings (AGMs) during the first half of 2024.
The SC Chairman Dato’ Mohammad Faiz Azmi said while fully virtual meetings served their purpose during the pandemic, it is time for PLCs to transition to hybrid or physical meeting formats.
“Shareholder meetings, especially AGMs, are important sessions to engage the board and management,” he said. “Domestic and international investors have also expressed their preference for hybrid or physical meetings. It reinforces good governance by promoting transparency and accountability.”
Datuk Muhamad Umar Swift, Bursa Malaysia Chief Executive Officer said, “The Exchange fully supports the hybrid approach as it strikes the right balance between accessibility and engagement. Leading by example, we ensure greater accessibility and inclusivity for all shareholders, to foster trust and a more engaging dialogue.”
Physical meetings preserve the sanctity of shareholder rights and ensure no one is excluded due to technological barriers. While virtual participation enhances accessibility, PLCs should strive to hold general meetings in a hybrid model or at least in a physical format. This ensures meaningful shareholder engagement, safeguards shareholder rights, and upholds the integrity of the general meeting process,” he added.
This requirement will apply to all general meetings of PLCs on the Main and ACE Markets of Bursa Malaysia held from 1 March 2025.
Bursa Malaysia will provide further details in due course.
