AGM Reception – 19th AGM 2023

Dr Lorenzo Casavecchia presenting on icapital.biz Berhad’s NAV and share price performance. Over the longer term, icapital.biz Berhad’s NAV achieved an annual compound return of 8.00%, as compared with 1.76% for the MSCI Malaysia index, both measured from its inception date on 19 October 2005 to 23 August 2023. For the same period, icapital.biz Berhad’s share price achieved an annual compound return of 6.75%, outperforming the MSCI Malaysia index by 4.99 percentage points.

Dr Hardy Hulley and Teng Boo presenting on icapital.biz Berhad’s very innovative dividend policy, which was set up after years of extensive research, to ensure that the gap between the Fund’s share price and NAV can consistently be auto-remedied moving forward. The innovative dividend policy will address the needs of various shareowners – those seeking long-term capital appreciation, those needing some regular distribution and those who may have to cash in their holdings.

The annual general meeting of ICAP has always been held on a Saturday, to encourage a high level of participation and for the convenience of individual investors. Prior to the pandemic, its annual general meeting has often witnessed an active participation of 700 to 800 shareholders.

Shareowners having their breakfast before AGM starts

Shareowners showing their support and raising their hands in agreement

Throughout his decades-long investing and business career, Teng Boo has always believed in empowering and championing individual investors. As he said during 2014 Investor Day in October 2014 : “if I can convert one person to become a better person and a better investor from this, I would be happy. That person would go on to influence other people in their lives, and eventually they would all make a better Malaysian economy.” To him, the equation is simple : a robust economy needs a strong capital market, which in turns needs informed participants, including individual investors.

The Fire Weather Index (FWI), measuring the dryness of forests, of nearly the entire Canada far exceeded the norm.

“Life-threatening” flooding in New York City which overwhelmed the streets and subways is one of the many outcomes of our ignorance to the world’s cry for help

Teng Boo showing the acceleration of ice melting in Southern Greenland

Shareowners watching “A Plastic Ocean” during the afternoon session, a documentary that explores the fragile state of our oceans and uncovers alarming truths about the consequences of our disposable lifestyle.

One of the shareowners during the Q&A session