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Rounding off the week was an Investor Forum which featured a panel discussion on the topic Unlocking Value with Responsible Investing: ESG and Climate Governance Insights for InvestorsIn addition, SIAS%u2019s Corporate Governance Week in November 2023 included an Investor Forum which featured a panel discussion on the topic Unlocking Value with Responsible Investing: ESG and Climate Governance Insights for Investors.Investor educationSoon after SIAS%u2019s formation in 1999 and following deregulation in 2000, SIAS started conducting comprehensive educational programmes, seminars and workshops to enhance investors%u2019 financial literacy.In this financial year SIAS organised 148 workshops, activities and online sessions on a variety of subjects, ranging from Basics of Investment Products, Understanding Bonds, Understanding Exchange-Traded Funds.SIAS also hosts regular online Corporate Connect sessions featuring mid- to small-cap and lesser-known companies to enable these firms to reach a wider audience.Members of the public are encouraged to submit their questions for the seniormanagement of featured companies which are then answered after a corporate presentation. %u201cLive%u2019%u2019 questions are also permitted.Investor RightsSIAS has always intervened in cases when majority shareholders seek to take companies private at prices which do not reflect fair value.For example, SIAS worked closely with a group of Great Eastern Holdings minority shareholders when the insurance company was the target of a privatisation offer by majority shareholder OCBC.This included trying to secure a better deal for minorities and subsequently sending a letter to the Board asking why the original offer price was not raised despite the independent financial adviser rendering a %u201cnot fair but reasonable%u2019%u2019 opinion.Although the price was ultimately not raised, SIAS%u2019s intervention led to minorities and the general public gaining valuable insight into how the privatisation President%u2019s Messageprocess works and how valuations can differ depending on one%u2019s point of view.In the year ended 30 June 2024, SIAS sent queries on various governance issues to Chemical Industries Far East Limited, EC World REIT, Advanced Holdings and Manulife US REIT, whilst contributing to seven articles published in The Straits Times and Business Times. These ranged from educational topics like how investors could take charge of their finances in 2024 to opinion pieces on the importance of investors incorporating sustainability considerations, ways to rejuvenate trading in the local stock market and the appropriate test of materiality that companies should apply when making corporate disclosures.Another area of shareholder advocacy which was pioneered by SIAS 8 years ago is the %u201c3 Questions%u201d which are sent to companies ahead of their Annual General Meeting. The objectives are to improve the quality of meetings, and the engagement between the board and the shareholders. The three areas covered are financial performance, business strategies and corporate governance, and companies are requested to post their answers online ahead of their AGMs so that shareholders are aware of the important issues facing their companies.I am pleased to report that in FY2024, SIAS sent questions to 131 companies and received 97 replies, which works out to a 74% response rate.Corporate Governance Week In November 2023, SIAS held its annual Corporate Governance conference which was based on the theme %u201cBuilding Trust through Effective Corporate Governance: Navigating Legal, Ethical and Social Challenges.%u201d The Guest-of-Honour was the then- Managing Director of the Monetary Authority of Singapore and among the distinguished speakers was Prof Kishore Mahbubani, Distinguished Fellow, Asia Research Institute, National University of Singapore.Global thought leaders and leading practitioners from Asia-Pacific, the United Kingdom, and Europe helmed thought-provoking discussions on the importance of building trust between boards, management and stakeholders.525TH ANNUAL REPORT | 2023 - 2024