Singapore Exchange increases proxy response by 300 percent
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Singapore Exchange increases proxy response by 300 percent 27 November 2012Singapore Reporter: Georgina Lavers
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Broadridge announced that Singapore Exchange (SGX) increased year-on-year investor proxy response by approximately 300 percent using Broadridge’s proxy management solution.
The service automatically captures holding records from the shareholder register and reconciles any holdings adjustments up to two days before the AGM. Beginning with SGX’s next general meeting, shareholders will have the choice of submitting proxy votes via a prepaid postal response, as was the case this year, or electronically via a voting website. An online portal will enable SGX to track, monitor and audit all activity in real time, in advance of the meeting.
Bruce Babcock president of Investor Communication Solutions International, Broadridge said that the increased returns and process improvements for SGX’s 2012 AGM has raised the governance bar in Singapore.
“Some investors have also opted to receive future communications electronically, which will drive down costs, further improve service levels and enable a more environmentally-friendly approach.”
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