- ARB taps on the big shift towards
digital as well as SC's guidelines to encourage listed issuers to continue
leveraging on technology beyond the MCO period, with the launching of its
Virtual AGMs' Solutions, ARB WeMeet.
- ARB WeMeet will be available for
corporate clients at a competitive rate while offering solutions that drive
proactive engagements with shareholders
- The Group is targeting to capture
30% of the public listed companies in Malaysia, Singapore, Indonesia, Thailand
and Australia, target to generate a lucrative yearly recurring income to the
KUALA LUMPUR, MALAYSIA - Media OutReach - 13 October 2021 - Main Market-listed information technology ("IT") software and platform provider ARB Berhad (KLSE:7181)
("ARB" or "Group") launches its self-developed
virtual shareholders' meeting ("VSM") – ARB WeMeet to provide companies
and shareholders with a stress-free, intuitive and enriched experience.
ARB Berhad Executive Director Dato Sri' Larry Liew Kok Leong (拿督斯里刘国良)
said: "We're excited with the launching of WeMeet, our state-of-the-art Virtual
Shareholders' Meeting, that will serve the needs of shareholders and companies
in the "New Normal". Since the beginning of the pandemic, we have been working
tirelessly to develop a virtual meeting solution, leveraging on our expertise
in the digital space and our understanding of the importance of corporate
governance and engagement with shareholders. We are thrilled that it's finally
ready to serve the market, and we have ensured that our solutions are at a
competitive rate, making it easier for our corporate clients to shift towards
ARB WeMeet are critical tools that will help to revolutionize how
companies conduct their annual meetings and engage with shareholders. There are
a lot of advantages to conducting a virtual meeting over a physical meeting as
it enables shareholders to participate in the meeting remotely easily. In the
wake of the COVID-19 pandemic, most corporates and shareholders have realized
the importance of the VSMs tool. According to Computershare data, 40% of the
Annual General Meetings (AGMs) globally were conducted virtually during the
first seven months of 2021 as compared to just 27% in 2020.
ARB WeMeet's offering includes state-of-the-art video and audio
experience, role-based meeting views, comprehensive meeting management tools
and real-time Q&A functionality.
"One of the criticisms on virtual shareholders meeting is the lack of
engagement with shareholders, and the system might be open to abuse. With
WeMeet, we are sure that the platform allows for a highly engaging and modern
virtual experience, starting with a seamless meeting authentication, a
"Zoom-like" meeting experience and real-time Q&A functionality," Dato' Sri
Larry Liew said.
He added that the platform also provides an integrated
console to manage all aspects of the VSM experience, including seamless
management of high-quality video and audio, streamed from multiple presenters,
screen sharing, meeting materials management and voting.
"WeMeet ensures that the voting process is transparent and
that the meeting is open for engagement with shareholders." Dato' Sri Larry
Liew said, adding that shareholders democracy, particularly retail investors'
access to boards will not be eroded with WeMeet solutions.
Given that all the public listed companies in Malaysia, Singapore,
Indonesia, Thailand, Australia would need to organize an annual
general meeting on a yearly basis, excluding the extraordinary general meeting,
this would provide a huge potential for ARB. Based on the Group's internal
target to capture 30% of these market, WeMeet is expected to generate a
lucrative yearly recurring income for the Group.
According to Dato' Sri Larry Liew, the rollout of WeMeet in
Malaysia is the first phase and while the VSM solution is competitive, he is
confident that the Group's competitive pricing and viable solutions that
address some of the concerns over the virtual meeting, put ARB in a good
position to capture the market. Most of the Annual Meeting of shareholders will
now be conducted exclusively online by remote communication. This decision was
made in light of the Covid-19, public health concerns and required limits on
"We're also looking beyond Malaysia by bringing in global
audience. It is our intention to help these corporates to shift towards digital
as it has always been our priorities. Given the potential of WeMeet and the
sustainable business model, we believe that this will be a launching pad for us
to expand our offerings. We welcome partnership collaboration in Asia-Pacific
region to grow our market," he said.