Wednesday, 17 April 2013

Passive Income Farmer - My First AGM (Starhub)

I have not attended AGM before.  Partly because my busy work schedules did not allow me to attend the AGMs on week days.   Also, I have heard bad things from friends about AGMs.  Most particularly the ugly scenes at AGM buffets; people are said to be scrambling, rushing, pushing and taking excessive food than what they could eat.  Heard some even brought containers (most likely exaggerated) to package food home.

From this year onwards, as I have less travelling, I decide to attend an AGM to have such an experience.  I always wonder how the voting/polling is done at the AGMs?  I want to attend one AGM myself so I would not be the "mountain tortoise" any more.  Perhaps this can be a pastime after my retirement.

Starhub held their AGM this year on April 15 at the company's headquarters at Starhub Green, Ubi Ave 1.

As Starhub is my current top holding and I have some free time on that day, I decide to start my first AGM with Starhub.

Registration for Starhub AGM is a breeze.  You just show up at the venue, let them scan your IC to verify your shareholder status and sign in on an electronic signature pad.   All these processes are very high tech and all paperless.   Unlike my reservist experience with SAF where people had to manually check your IC against one long list in paper print-outs.  And ironically sometimes they could not find your name when you reported for in-camp training.

After signing in, you are issued a sticker to paste on your shirt and also a "Trust Poll plus" handset.  This handset is programmed with your name and number of shares you held; and is use for voting/polling.  You press "1" to vote "for" and "3" to vote "against" on this handset.

Then, you are set and ready to enter the AGM venue, the Starhub Green Auditorium for this Starhub AGM.  I estimated that there were about 200 people attending this AGM.

Not too many questions were asked during Starhub's AGM.  I guess most shareholders are satisfied with the company's past year performance and the current stock price appreciation.  Wonder what would it be like in an AGM where the company is losing money?

Polling on the resolutions are done with the handset.  The results were almost instantaneous and were projected and showed to all in the room.  The AGM/EGM concluded swiftly in about 1 hour.

Then, it was quite a sight as people gathered at the buffet table in a flash.  Generally, people are quite civilized with no scrambling or pushing.  Starhub is also smart that they provided small plates (small surface areas for food), so people fill up their plates with food quickly and move out of the way swiftly.  More than sufficient foods are catered.  Although I queued at the back, I still managed to get a second serving.

One of the attendees told me that StarHub’s AGM typically attracts smaller crowd compared to rivals M1 and SingTel, as Starhub is largely owned by institutional investors (Temasek has 36%).

This is an eye-opening experience for me and I will attend other AGMs, particular SingTel's to see what the scene is.

No comments:

Post a Comment