I started investing in the stock market since May 2021. I had bought few shares of SBM Holdings Ltd (SBMH.N0000). And I was therefore sent the Annual Report and an invitation to attend the Annual Meeting. BTW, SBM stands for State Bank of Mauritius.
Due to COVID-19 pandemic, the meetings were separated into multiple rooms so I could get to see the board members live.
Basically the meeting starts by the board members saying all is good. Then QA session where board members are asked questions about scandals, mismanagement of funds. The board will answer these:
- We are only a holding company so we cannot answer what the operating company are doing
- We cannot divulge loans given to certain customers as these are private
- We take note, we will relay the information to the children company board members.
So basically what I understood is that the actual banking company is shielded from any scrutiny as I have shares only in the holding company and thus will not get invited in the children annual meeting if they do happen.
Everyone got 2 bags of food: 1 food pack for breakfast and 1 food pack at the end for lunch. Yay!
Tastes OK but I would have preferred Dividend payments. The goodies bag cost more than the amount of dividends I would have got but still 😛
Next hopefully will attend the meeting for SWAN GENERAL LTD. Wonder how similar it would be to this one.