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Anonymous
I recently received a bunch of annual reports in the mail, some of which are my parents and some are mine. I hardly see them go down for the AGM and I also hardly hear my peers who just started investing go down to these AGMs. So I wonder how important is it to go or not?
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Elijah Lee
04 Dec 2019
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Would definitely be important to attend as that is the place where you can get the most value out of it. That is the place where investors csn shoot them any questions and they have to answer it. Most of the time, you will be able to get alot of gems from it. Listening at how they talk and present can actually give you a sense of the character of the directors.
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Its not that important to attend AGM in singapore because the minority investors dont ask that many hard questions.
Howerve going to AGM in my view is good because it allows one to ask the hard questions and see how mgmt answers. Sometimes annul report only report the good information but going to AGM helps you pry more into details which would otherwise not be announced or read inAnnual reports
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I personally think it's useful to go down to meet management in person (NOT FOR THE BUFFETS!).
The main motivation for me to attend investor meetings and AGMs is to meet the management team in person, and also watch their facial expressions when they answer questions.
When I used to work in equity research - I recall a moment when the Head of IR rolled his eyes to complain about how stingy the CEO is, because of the approvals he had to go through just to book his flight to Singapore.
Sometimes you can glean extra insights from small talk ;)
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Bjorn Ng
03 Dec 2019
Business Analyst at 10x Capital
I think it's a very good experience to go. You get to meet the management, get a feel of how they ar...
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If you can spare the time, definitely attend the AGMs. The really juicy part occurs when you get to throw questions at the management. (There will be the occasional odd question, so just have to live with it)
Observe the questions asked and how the management answers (or avoids answering) the questions. Subtle clues in their response will tell you how they steer the ship. I know for sure that I've heard a couple of very calm and well thought out responses to some of the AGMs I've attended which reinforced my belief that the company is in good hands. Sometimes, if a response sounds fishy, trust your gut feeling that there's something left unsaid.