Sun, May 22, 2011 - Page 8 News List

EDITORIAL : Corporate governance needs work

On Friday, the Ministry of Economic Affairs’ commerce department said that minority shareholders could still raise motions at AGMs as long as they collectively own more than a 1 percent share in the company. Yet the department’s response just showed how bureaucratic it is.

What makes this amendment even harder to comprehend is that the government is working to amend the law to restrict the rights of some shareholders — just because of the dislike of other unwelcome shareholders. It serves as a reminder that there is still room to improve corporate governance and the government’s mindset in this country.

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