Company Engagements

In line with one of its strategic priorities to enhance corporate governance in the capital market, the IIC undertakes collective engagements with public listed companies via purposeful dialogue on the oversight of strategy, performance, governance, relations with stakeholders and risk management.

The company engagements are led by the Council Members whereby IIC engages with the board members of the PLCs, including the senior management. The first engagement took place in November 2017, with future company engagements being planned as part of IIC’s activities.

LIST OF COMPANY ENGAGEMENTS

23 OCTOBER 2023
PETRONAS DAGANGAN BERHAD AND PETRONAS GAS BERHAD
Issues Discussed
  • Financial & operational highlights
  • Net zero emission target
  • Committed to upholding high standards of CG
  • Continued value creation with SMEs
27 SEPTEMBER 2023
TENAGA NASIONAL BERHAD
Issues Discussed
  • Expansion of EV charging facilities
  • TNB roles in NETR
  • Reduced usage of coal in PP
  • ESG and sustainability journey
14 SEPTEMBER 2023
PETRONAS CHEMICALS BERHAD
Issues Discussed
    • Financial & operational highlights
    • Governance and sustainability
    • Growth aspirations, approach and execution
    • Sustainability risks
    • Future direction & prospects of the Group
16 AUGUST 2023
AMMB HOLDINGS BERHAD
Issues Discussed
  • Financial & operational highlights
  • Net zero ambition 2050
  • Focus on green financing
31 JANUARY 2023
MALAYAN BANKING BERHAD
Issues Discussed
  • Financial & operational highlights
  • Maybank’s sustainability agenda
  • Measures to resolve online scams
15 april 2021
TOP GLOVE CORPORATION BERHAD
Issues Discussed
  • Financial Performance and Track Records
  • Proposed Dual Primary Listing on HKEX
  • Progress Update on CBP WRO Status
  • Workers’ Hostels Improvement
  • Corporate Governance
  • Independent Directors’ Commitment
  • Future direction & prospects of the Group
2 april 2021
AMMB HOLDINGS BERHAD
Issues Discussed
  • Bursa announcement briefing on Proposed Private Placement
  • Goodwill for impairment
  • Rationale for private placement
  • Key considerations of stakeholders
26 march 2021
AMMB HOLDINGS BERHAD
Issues Discussed
  • Global Settlement with MOF Malaysia
  • Operations Overview Post BNM moratorium period
  • AmBank Group Transformation Programme
  • Remediation projects and outcome
  • Financials
  • Future direction & prospects of the Group
19 november 2020
FGV HOLDINGS BERHAD
Issues Discussed
  • Operations Overview
  • Governance & Integrity Framework
  • Termination of Land Lease Agreement (LLA)
  • Sustainability Highlights
  • Withhold Release Order (WRO) issued by US Customs and Border Protection on palm oil and palm oil products by FGV and its subsidiaries and joint ventures
  • Governance & board leadership issues at listed subsidiary company
  • Proposal from Perspective Land (M) Sdn Bhd to inject plantation assets into FGV
  • Future direction & prospects of the Group
26 august 2020
bursa malaysia BERHAD
Issues Discussed
  • Financial and operational highlights
  • Board governance
  • Surveillance on governance of PLCs including fit and proper test on board appointments
  • PN17 companies
  • Market structure & vibrancy
  • Developments in Sustainability Reporting and sustainability practices by PLCs
  • Future direction & prospects of the Group
20 december 2019
ioi corporation BERHAD
Issues Discussed
  • Financial and operational highlights
  • RSPO certification
  • Transboundary haze issue and management/mitigation plans
  • High CEO remuneration
  • Gratuity payment
  • Future direction & prospects of the Group
21 october 2019
tenaga nasional BERHAD
Issues Discussed
  • Financial and operational highlights
  • Industry reform under MESI 2.0
  • TNB Internal Reorganisation Plan & Transformation Plan
  • International portfolios
  • Sustainability agenda including plans on renewable energy (RE)
  • Whistleblowing policy and implementation
  • Future direction & prospects of the Group
23 august 2019
IHH HEALTHCARE BERHAD
Issues Discussed
  • Financial and operational highlights
  • Turnaround plan for Fortis Healthcare
  • IHH Group’s expansion plans and challenges faced in new markets
  • Board diversity and succession planning
  • High CEO remuneration
  • Status of IHH’s mandatory open offer and material litigation cases
  • Future direction & prospects of the Group
24 APRIL 2019
MALAYSIA AIRPORTS HOLDINGS BERHAD
Issues Discussed
  • Financial and operational highlights
  • Board diversity and succession planning
  • Corporate Integrity Unit and Whistleblowing Policy
  • Ongoing major corporate developments, e.g. revised OA, RAB framework, etc.
  • Future direction & prospects of the Group
18 MARCH 2019
TELEKOM MALAYSIA BERHAD
Issues Discussed
  • Financial and operational highlights
  • Board governance and leadership
  • ESG initiatives
  • Future direction & prospects of the Group
13 September 2018
top glove corporation berhad
Issues Discussed
  • Financial and operational highlights
  • Acquisition of Aspion Sdn Bhd and ongoing litigation
  • ESG initiatives
  • Board/ management focus moving forward

LIST OF COMPANY ENGAGEMENTS

21 may 2018
sapura energy berhad
Issues Discussed
  • Financial & operational highlights
  • Excess capacity & impairment of rigs
  • Funding requirements for expansion
  • High Group CEO remuneration package
  • Future direction & prospects of the Group
9 Mar 2018
Felda Global Ventures Holdings Berhad
Issues Discussed
  • Board structure and composition
  • Board remuneration
  • Market concerns on LLAs and Golden Share
  • CG practices & whistleblowing policy and procedures
  • Risk management
  • Research and development
  • Impact of legacy issues
  • Issues at listed subsidiary company
  • Future direction & prospects of the Group
10 Nov 2017
Lotte Chemical Titan Holding Berhad
Issues Discussed
  • Concerns on various incidents in 2017
  • Strengthening risk management
  • Compliance with domestic and international environmental laws and standards
  • Better management of communication with analysts and media
  • Public shareholding spread
  • Board’s role to ensure good governance arrangements are put in place
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2024

Date Activities/Events
 

10 January 2024

 

 Working Group meeting on Proxy Voting

Discussed the proxy voting platform project with the objective of coming out with the local version of the proxy voting mechanism as an alternative to the foreign sources’ providers to assist IIC’s members and beyond to vote with informed decisions at annual shareholders’ meetings as well as encourage further transparency in governance.
10 January 2024

 

 Working Group meeting on Corporate Governance Conference 2024:

Discussed on the preparation for the CG Conference 2024 to be held on 5 March 2024.
16 January 2024 SIP: Masterclass on ESG Training

Cohort 1: Group A

The training was held at the Securities Commission Malaysia and was exclusively available for IIC members.  The main area of focus during the training were ESG analysis and valuation Integration as well as ESG-integrated portfolio construction and management.  The training program was a was collaboration between IIC and CMM together with PRI Academy.

(Attended by 25 participants)
17 January 2024

 

 SIP: Masterclass on ESG Training

Cohort 1: Group B

The training was held at the Securities Commission Malaysia and was exclusively available for IIC members.  The main area of focus during the training were ESG analysis and valuation Integration as well as ESG-integrated portfolio construction and management.  The training program was a was collaboration between IIC and CMM together with PRI Academy.

(Attended by 25 participants)
22 January 2024 Company Engagement: Sime Darby Plantation Berhad

Discussion between senior management of Sime Darby Plantation and members of the IIC primarily focusing on the company’s ESG and sustainability journey and its alignment with Sime Darby’s broader strategic initiatives.  In addition, the discussion also covered various governance-related topics.

The meeting took place at the Headquarter of Sime Darby Plantation Berhad, Ara Damansara.
 

6 February 2024

 SIP: Masterclass on ESG Training

Cohort 2: Group A

The training was held at the Securities Commission Malaysia and was exclusively available for IIC members.  The main area of focus during the training were ESG analysis and valuation Integration as well as ESG-integrated portfolio construction and management.  The training program was a was collaboration between IIC and CMM together with PRI Academy.

(Attended by 25 participants)
7 February 2024 SIP: Masterclass on ESG Training

Cohort 2: Group B

The training was held at the Securities Commission Malaysia and was exclusively available for IIC members.  The main area of focus during the training were ESG analysis and valuation Integration as well as ESG-integrated portfolio construction and management.  The training program was a was collaboration between IIC and CMM together with PRI Academy.

(Attended by 25 participants)
5 March 2024 Corporate Governance Conference 2024

Venue: Securities Commission

IIC was pleased to host the Corporate Governance Conference on 5 March 2024, which was officiated by the Minister of Finance II. We believed that corporate governance was more than a sustainability pillar – it was the necessary precondition to fully address social and environmental concerns.

The conference brought together institutional investors, company directors, government policymakers, and other stakeholders discussing the challenges and opportunities of investing towards sustainable development.

The conference featured keynote presentations and panel discussions on a range of topics, including:

  • The role of institutional investors in promoting sustainability
  • Board governance for sustainability
  • ESG reporting and disclosure
  • Sustainability risks and opportunities

CG CONFERENCE 2024
26 March 2024 IIC Council Meeting No.1/2024

Time: 10:30 am – 12:30 pm

Venue: KWAP
16 May 2024 Company Engagement: Westports Holdings Berhad

The discussions primarily revolve around several key topics, such as, about Westport’s financial standing amidst recent logistical changes. Other than that, the impact of global crises, like the Red Sea conflict, on Westports operation was addressed. Also, the viability of a land bridge as an alternative route was explored, with considerations for its logistical challenge and cost-effectiveness compared to existing maritime routes.
10 June 2024 IIC Council Meeting No.2/2024

Time: 9:30 am – 11:00 am

Venue: KWAP
10 June 2024 5th IIC AGM

Time: 11:00 am – 12:30 pm

Venue: KWAP
9 July 2024 Company Engagement: Top Glove Corporation Berhad

The engagement session between IIC and Top Glove Corporation Berhad (TG) focused on TG’s sustainability efforts, corporate governance, human rights, and diversity initiatives.
10 July 2024 Company Engagement: DRB-HICOM Berhad

The session covered their ambitious ESG targets, corporate governance, and responses to queries about the impact of EV transitions, sustainability targets for Pos Malaysia, and emission reduction strategies.
18 July 2024 S&P Global Workshop on Climate Related Disclosures

The training was exclusively available for IIC members.  The main area of focus during the training was The Task Force on Climate-Related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB) Framework, In-depth analysis of climate risk, including practical examples and real-world case studies, Net Zero and Sustainable Finance, and Data and Trends on Social Issues and Biodiversity

Joint venture between IIC and S&P Global.

(Attended by 18 participants)
2 August 2024 Special Council Meeting on Proxy Voting

Time: 9:00 am – 10:00 am
8 August 2024 Company Engagement: Malakoff Corporation Berhad

The discussions centered on critical issues such as net-zero carbon emissions, renewable energy, the Waste-to-Energy (WTE) plant, financial performance & sustainability—topics of utmost importance in the collective pursuit of a more sustainable future.
13 August 2024 SIP: Steering Committee Meeting

The meeting focused on reviewing and updating the progress of IIC activities for the year 2024. Key topics included an assessment of the initiatives undertaken so far, as well as in-depth discussions on strategies and plans for the remaining year.

The committee also explored prospective activities aimed at advancing the objectives of the IIC, ensuring continued alignment with the organization’s mission and goals.
14 August 2024 Masterclass on Governance Trends IIC & Glass Lewis

The training was exclusively available for IIC members.  The main area of focus during the training was Key Trends Observed during Malaysian Proxy Voting in 2024. Comparing Trends with the Broader Southeast Asian Market, and Overview of Global Stewardship and Governance Trends from the 2024 AGM Season.

Joint venture between IIC and Glass Lewis.

(Attended by 22 participants)
15 August 2024 PRE-AGM: Virtual Meeting with Ambank Group

Key issues discussed by the IIC included AMMB’s readiness to commit to sustainability and net zero targets. The committee also inquired about the bank’s collaboration with Pantas on developing climate solutions.

Attended by 11 Representatives from IIC.
26 August 2024 Company Engagement: Bursa Malaysia

The discussion centered on Bursa’s plans for the future, including its strategic roadmap, sustainability efforts, DEI initiatives, and corporate governance. Bursa aims to enhance its traditional capital market, become a multi-asset exchange, and promote sustainability. It also seeks to improve corporate performance and drive shareholder activism through initiatives like the Catalyst Fund and Shape-up Programme.

(Attended by 23 participants)
19 September 2024 IIC Council Meeting No.3/2024

Time: 3:30 pm – 5:00pm
16 October 2024 Data Centre Ecosystem by Malaysia Digital Economy Corporation Sdn Bhd (MDEC)

Event: Malaysia Digital Infrastructure Ecosystem 2024

Date: 16 October 2024 (Wednesday)

Time: 2.00 pm – 4.00 pm

Venue: KWAP Auditorium, Level 36, Integra Tower, The Intermark, Kuala Lumpur

Speaker: Tan Tze Meng, Head of Digital Infrastructure Department, MDEC
22 October 2024 Company Engagement: Sapura Energy Berhad
5 November 2024 Company Engagement: KPJ Healthcare Berhad
27 November 2024 Company Engagement: IHH Healthcare Berhad
10 December 2024 IIC Council Meeting No.4/2024

 

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Lya Rahman of IIC passes away

 

 

Institutional Investors Council Malaysia (IIC) adviser Jamaliah (Lya) Rahman has passed away on 27 December 2022.

Lya was very passionate on corporate governance and shareholder activism matters and had written articles on the subject matter.

She spent 18 years with the Minority Shareholder Watchdog Group (MSWG) and often raised pertinent issues of concern relating to corporate governance and the rights of minority shareholders at the PLCs’ general meetings.

She was the Asean CG Experts representing Malaysia from 2012 until she left MSWG in 2019, and headed the ASEAN CG Assessment for the Malaysian PLCs under the MSWG-Malaysia CG Index Project during her tenure with MSWG.