: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: MAS accepts recommendations from Corporate Governance Council and issues revised Code
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Amendment to Code of CG. 

Independent Directors who served more than 9 year since first appointment (before or after listing) will be subjected to 2 tier vote. 2nd vote by shareholders excluding
those shareholders serving as directors or CEO ( and their associates). If they fail the 2nd vote, they can still stay as non-independent director)

[opmi: If the incumbent IDs failed the 2nd vote, they are 'useless' to the controlling shareholders since they dont help to add to no. of required IDs on the Board to comply with the Code and also for situations like Offers. Technically minorities can 'kick out'/neutralize the IDs if they organize]