4 March 2024
Ong Pei Ching interviewed by The Business Times: “Can Singapore-listed companies legally block shareholder proposals?”
Features Ong Pei Ching
Pei Ching was interviewed in The Business Times by Navene Elangovan.
The article was on Singapore-listed companies and whether they could legally block shareholder proposals (p.6). It included Pei Ching’s comments that it is mostly institutional investors who are active on ESG issues. As the investment matrix now tends to include ESG performance, institutional investors may no longer be able to invest in non-ESG compliant companies. Hence, there are good business reasons for both listed companies to have better ESG practices, and for their investors to take active positions in the companies’ ESG policies and practices.
Pei Ching also noted that a listed company can turn to the courts to determine if it is obliged to table a shareholder’s proposals under certain circumstances. As a company’s ESG track record is increasingly part of companies’ annual reports, shareholders’ proposals relating to sustainability issues may be relevant to the general meeting and may not be blocked.
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