PETALING JAYA: Non-large shareholders in Tier 2 are not active when voting for boards in listed companies, the Securities Commission (SC) said in its yearly review.
On average, only 40% of non-large shareholders cast their votes, it said in its annual Corporate Governance Monitor (CG Monitor 2020) released yesterday.
While the two-tier voting process is not mandatory, the SC urges shareholders to seek the adoption of this practice to strengthen the reappointment of long-serving independent directors.
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