A milestone in 1985 was the founding of the Institutional Shareholder Services and the Council of Institutional Investors in the US. In the 1990s, labour union pension funds replaced public pension funds as the main shareholder activism player, and mutual funds also jumped on the activism bandwagon. In Malaysia, minority shareholder activism is spearheaded by the Minority Shareholders Watch Group (MSWG). Additionally, Bursa may want to revamp the way the voting outcomes at shareholder meetings are announced by showing separately shares voted under the public float category, as the number of shares held by minority shareholders that voted at the AGM is a good indicator of minority shareholder activism. A hybrid shareholder meeting, with video streaming and availability of the minutes online, may further bolster the shareholder activism momentum.
