Joint Press Statement – SIAS and SID announce Guide on Best Practices for Shareholder Meetings

Date: March 26, 2019

The annual general meeting (AGM) of a company is a time for the company’s board members, management and shareholders to interact. It is usually at this time when the board and management provide an account of the company’s performance for the year and present the audited financial statements. It provides an opportunity for shareholders to raise any questions they may have on the company’s business, financial performance, future plans and strategies.

Shareholders, management and board share a symbiotic relationship. Responsible companies should view shareholder meetings as valuable avenues to understand investor expectations. Likewise, shareholders should exercise their rights responsibly and act with decorum.

With the primary purpose of encouraging a positive climate for robust and open discussions between the board and shareholders during shareholder meetings, Securities Investors Association (Singapore) (SIAS) and Singapore Institute of Directors (SID), with the support of the Singapore Exchange Regulation (SGX RegCo), came together to develop this Guide. This Guide is written for both shareholders and directors so as to provide a common understanding and promote best practices in the conduct of AGMs.

“I encourage all shareholders to familarise themselves with information in this Guide. AGMs provide the opportunity to ask questions and seek accountability. This, in turn, will improve transparency and corporate governance in the company.” – David Gerald, President and CEO, SIAS.

“The Code of Corporate Governance calls on companies to communicate regularly with their shareholders. AGMs are an important plank in the communication strategy. It is where shareholders, the board and management interact. Expectations on all parties are rising, and this Guide helps set out those expectations. It will help responsible companies to enhance their investor relations efforts so as to actively engage and promote regular, effective and fair communication with shareholders.” – Tham Sai Choy, Chairman, SID

“Meaningful discourse at shareholder meetings is only possible when the board and shareholders have free and frank discussions. This Guide paves the way for open dialogue between directors and shareholders, and enhanced transparency and accountability for all.” – Tan Boon Gin, CEO, SGX RegCo

With this Guide, hope both companies and shareholders will endeavour to raise the quality of interactions at shareholder meetings and contribute towards an engaged marketplace undergirded by open communication and trust.

The Guide is available on the websites of SIAS, SID and SGX.

Click here to access the Guide on SIAS website


For further information, please contact:

Mr David Gerald
Founder, President & CEO, SIAS
Tel: 62272683
HP: 96627995
Ms Yang Wai Wai
Head, Communications & Research, SID
Tel: 64221773
HP: 97979660

About Securities Investors Association (Singapore)

SIAS actively promotes good corporate governance and transparency practices, investor rights, investor education and is the watchdog for investors in Singapore. SIAS rates companies on their governance practices together with industry partners and rewards companies excelling in good corporate governance practices.

SIAS, the largest organised investor group in Asia, is run by an elected Management Committee comprises of professionals who are volunteers. It is now a registered Charity and an Institution of Public Character.

Besides its focus on corporate governance, SIAS also extensively provides a variety of investor education programmes to its members and the investing community at large through collaborative arrangements with financial institutions and listed companies interested in investor education as part of its corporate social responsibility agenda.

For more information about SIAS, please visit

About Singapore Institute of Directors

The Singapore Institute of Directors (SID) is the national association of company directors. SID promotes the professional development of directors and corporate leaders, and provides thought leadership and benchmarking on corporate governance and directorship. It works closely with the authorities and its network of members and professionals, to uphold and enhance the highest standards of corporate governance and ethical conduct.

Formed in 1998, the membership of SID comprises mainly directors and senior leaders from business, government agencies and nonprofits. SID has a comprehensive training curriculum that covers the spectrum of a director’s developmental journey. Members have access to a range of resources, including research publications, forums, seminars, benchmarking awards and indices, board appointment services and regular networking and social events.