Just make the below complaint to SC and Bursa.

Official complaint on JAKS AGM minutes reporting.

Dear SC and Bursa,

Refer:

https://www.sc.com.my/api/documentms/download.ashx?id=b59a0f5d-c414-4c27-b1c2-37ad15072d47

Where SC encourage shareholders to be prepared and participate effectively at an Annual General Meeting (AGM) with CORPORATE GOVERNANCE CHECKLIST FOR SHAREHOLDERS

Post AGM

1. Have you read the ‘Key Matters Discussed’?

Listed issuers are required to publish the ‘Key Matters Discussed’ on its website which is a description of issues discussed and outcomes decided at the AGM.

2. Do the ’Key Matters Discussed’ reflect the discussions and outcomes of the AGM accurately? The ‘Key Matters Discussed’ should not be a mere listing of resolutions and voting outcomes of the AGM.

3. Are shareholders provided with an accessible and effective mechanism to maintain communication with the company?

I would like to make the following official complaint on JAKS AGM minutes reporting:

1. Very clearly JAKS management did not comply to above Corporate Governance in publish the ‘Key Matters Discussed’ on its website.
2.  JAKS Management reason the presentation slide is not for public circulation and only meant for presentation during past Annual General Meeting (“AGM”) do not carry any merit since JAKS is a public listed company.
3. Refer to attach JAKS AGM minutes send by Company Secretary. I cannot believe my eye that a qualified and certified secretary manage to capture only 3 Q&A whereas an attendee mange to do a better job: https://klse.i3investor.com/blogs/kianweiaritcles/2019-07-08-story214175.jsp (In Chinese)

Example of a well recorded AGM minutes:

MINUTES OF THE 60^TH ANNUAL GENERAL MEETINGOF PETRON MALAYSIA REFINING & MARKETING BHD (June 13, 2019)

https://www.petron.com.my/wp-content/uploads/2020/01/Minutes-of-the-60th-Annual-General-Meeting-of-Petron-Malaysia-Refining-Marketing-Bhd-June-13-2019.pdf

Covered:

1. PRESENTATION: Key highlights presented
2. Answers to: Written Questions submitted in advance by Shareholder
3. Answers to: Questions posed to the Board/Management from the Shareholders/Proxies Present

As minority shareholder I had done my part to demand transparency and good corporate governance from JAKS management. It look like many listed companies are not aware of this publish the ‘Key Matters Discussed’ on its website and Company Secretary was not prepared to minutes down the ‘Key Matters Discussed’ to reflect the discussions and outcomes of the AGM accurately and should not be a mere listing of resolutions and voting outcomes of the AGM

It is now up to SC and BURSA to use it regulatory oversight authority to make sure every listed companies in Bursa aware on the above corporate governance requirement and enforced this AGM corporate governance fully.

Will SC and Bursa take immediate action on JAKS to comply JAKS management in public the proper ‘Key Matters Discussed’ and AGM presentation slide on its website?

Thank you

Yours Sincerely,

Lee Soon Sheng

PS: Below are emails exchanges with JAKS management and Company Secretary for your reference.

Dari: Xiao Ying <xiaoying@epsilonas.com>
Date: Jum, 12 Jun 2020 pukul 18.56
Subject: RE: Request to be furnished with a copy of JAKS 2019 AGM minutes.
To: <sslee2309@gmail.com>
Cc: Leong Oi Wah <oiwah@epsilonas.com>

Dear Mr Lee,

We would like to apologise for the delay in replying in your email. The delay was due to negotiation with the Company to waive the charges as stated under Section 342 of the Companies Act 2016. For your information, there has been a change in personnel at JAKS in charge of Finance and Corporate and they are also shifting office during the last two weeks. We requested for the presentation slides but the answer from Management is the presentation slide is not for public circulation and only meant for presentation during past Annual General Meeting (“AGM”).

 We enclose the minutes of AGM 2019 for your reference.

 Thank you and stay safe!

Regards,

Xiao Ying

Epsilon Advisory Services Sdn. Bhd. 200301024739 (627159-V)

802, 8th Floor

Block C, Kelana Square

17, Jalan SS 7/26

47301 Petaling Jaya

Selangor Darul Ehsan

Telephone: +603-7803 1126/7806 2116 (ext 106)

Facsimile: +603-7806 1387/7806 1261

*** DISCLAIMER STATEMENT ***

The information contained in this communication is intended solely for the use of the individual or entity to whom it is addressed and others authorised to receive it. It may contain confidential or legally privileged information.  If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful.  If you have received this communication in error, please notify us immediately by responding to this e-mail and then deleting it from your system.  Epsilon Advisory Services Sdn. Bhd. is neither liable for the proper and complete transmission of the information contained in this communication nor for any delay in its receipt.

From: Lee Soon Sheng [mailto:sslee2309@gmail.com]
Sent: Tuesday, 9 June, 2020 9:18 AM
To: Xiao Ying <xiaoying@epsilonas.com>
Cc: Leong Oi Wah <oiwah@epsilonas.com>
Subject: Re: Request to be furnished with a copy of JAKS 2019 AGM minutes.

 Dear Xiao Ying,

Refer to your email dated 22 may 2020: “Noted your email on 16 May 2020, we will revert in due course”

More than two weeks have passed by and I am still waiting for my lawful and legitimate request for a copy of JAKS 2019 AGM minutes.

Just a gentle reminder: Company Act 2016

Section 342:

(4) Any member shall be entitled to be furnished with a copy of any minutes specified under section 341 within fourteen days after he has made a request in writing to the company at a charge not exceeding two ringgit for every one hundred words.

(5) The company and every officer who contravene this section commit an offence and shall, on conviction, be liable to a fine not exceeding ten thousand ringgit and, in the case of a continuing offence, to a further fine of five hundred ringgit for each day during which the offence continues after conviction. 

I will be very disappointed and have no choice but make an official complaint to SC, Bursa and CCM if my lawful request for a copy of JAKS 2019 AGM minutes is not forth coming in another 2 weeks time.

Note: Please do not send me the minutes on mere listing of resolutions and voting outcomes of the AGM. But annexure on:

1.       Presentation by the BOD during the AGM

2.       Q&A between AGM participants and BOD

3.       Answers to the questions send by MSWG (if any)

Thank you

Best Regards

Lee Soon Sheng.

Pada tanggal Rab, 27 Mei 2020 pukul 13.02 Lee Soon Sheng <sslee2309@gmail.com> menulis:

Dear Xiao Ying,

Thank you for your acknowledgement received of my request to be furnished with a copy of JAKS 2019 AGM minutes.

May I know when will I receive the request copy?

Have a nice day

Thank you

Best Regards

Lee Soon Sheng

Pada tanggal Jum, 22 Mei 2020 pukul 10.07 Xiao Ying <xiaoying@epsilonas.com> menulis:

Dear Mr Lee,

Noted your email on 16 May 2020, we will revert in due course.

Thank you and stay safe!

Regards,

Xiao Ying

Epsilon Advisory Services Sdn. Bhd. 200301024739 (627159-V)

802, 8th Floor

Block C, Kelana Square

17, Jalan SS 7/26

47301 Petaling Jaya

Selangor Darul Ehsan

 Telephone: +603-7803 1126/7806 2116 (ext 106)

Facsimile: +603-7806 1387/7806 1261

*** DISCLAIMER STATEMENT ***

The information contained in this communication is intended solely for the use of the individual or entity to whom it is addressed and others authorised to receive it. It may contain confidential or legally privileged information.  If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful.  If you have received this communication in error, please notify us immediately by responding to this e-mail and then deleting it from your system.  Epsilon Advisory Services Sdn. Bhd. is neither liable for the proper and complete transmission of the information contained in this communication nor for any delay in its receipt.

From: Lee Soon Sheng [mailto:sslee2309@gmail.com]
Sent: Saturday, 16 May, 2020 12:39 PM
To: info@jaks.com.my
Cc:
Subject: Request to be furnished with a copy of JAKS 2019 AGM minutes.

Dear JAKS Company SECRETARY

Leong Oi Wah (MAICSA 7023802)

My name is Lee Soon Sheng and I am JAKS shareholder holding 77,000 shares.

I come across an article in i3investor

https://klse.i3investor.com/blogs/kianweiaritcles/2019-07-08-story214175.jsp

[转贴] 捷硕 JAKS – 2019年股东大会 - RH Research

I try to look into JAKS company website for any published 2019 AGM minutes but unfortunately unable to find one.

With reference to SC published guideline on Annual General Meeting CORPORATE GOVERNANCE CHECKLIST FOR SHAREHOLDERS

https://www.sc.com.my/api/documentms/download.ashx?id=b59a0f5d-c414-4c27-b1c2-37ad15072d47

Annual General Meeting CORPORATE GOVERNANCE CHECKLIST FOR SHAREHOLDERS

Post AGM

1. Have you read the ‘Key Matters Discussed’?

Listed issuers are required to publish the ‘Key Matters Discussed’ on its website which is a description of issues discussed and outcomes decided at the AGM.

2. Do the ’Key Matters Discussed’ reflect the discussions and outcomes of the AGM accurately? The ‘Key Matters Discussed’ should not be a mere listing of resolutions and voting outcomes of the AGM.

3. Are shareholders provided with an accessible and effective mechanism to maintain communication with the company?

As qualified Company Secretary can you please advice JAKS BOD on the SC rule: Listed issuers are required to publish the ‘Key Matters Discussed’ on its website which is a description of issues discussed and outcomes decided at the AGM.

Meanwhile I would refer to Company Act 2016 and make a humble request to you, please email a copy of JAKS 2019 AGM minutes to me. 

Inspection of records of resolutions and meetings

Section 342:

(4) Any member shall be entitled to be furnished with a copy of any minutes specified under section 341 within fourteen days after he has made a request in writing to the company at a charge not exceeding two ringgit for every one hundred words.

(5) The company and every officer who contravene this section commit an offence and shall, on conviction, be liable to a fine not exceeding ten thousand ringgit and, in the case of a continuing offence, to a further fine of five hundred ringgit for each day during which the offence continues after conviction.

Records of resolutions and meetings

341. (1) Every company shall keep records comprising—

(a) all resolutions of members passed otherwise than at the meeting of members;

,(b) minutes of all proceedings of meetings of members; and

(c) details provided to the company in accordance with section 344.

Thank you

Best Regards

Lee Soon Sheng