EON Capital: Another Sad Day For Corporate Malaysia

From article on Star Business: EON Cap shareholders okay seven new directors

• Minority Shareholder Watchdog Group (MSWG) CEO Rita Benoy Bushon said there was a market perception that the newly elected directors were not truly independent because they were proposed by one major shareholder.
  
  However, she noted that the seven offered statutory declarations at the EGM as proof that they did not represent any of the major shareholders.
  
  “I’m not questioning whether the directors are independent, but I was not happy with the entire process,’’ she told StarBiz after the EGM.
  
  She observed that “the might and power of the majority shareholders” had swayed the outcome of the meeting.
  
  Bushon also said that based on the voting pattern, she had come to the conclusion the minorities may have voted against the resolutions.
  
  “It is a sad day for Corporate Malaysia ... a sad day for minority shareholders,’’ she said.