From Cash to Virtual: The Evolution of Annual General Meetings During the Pandemic

In the wake of the pandemic, companies are increasingly turning to shareholders to drive their success. One popular way to do this is by offering cash and other gifts at annual general meetings (AGMs).

At Saigon Commercial Bank for Industry and Trade’s AGM, shareholder Ms. Huyen Cham received an envelope containing 600,000 VND, a gesture that she found both comforting and engaging. The bank spent nearly 200 million VND on gifts for the 328 shareholders in attendance. Meanwhile, Military Bank (MBB) distributed envelopes containing 500,000 VND each to its shareholders at their meeting, amounting to an estimated cost of 1.1 billion VND for the 2,200 attendees. Other banks like SHB and Construction Development Investment Joint Stock Corporation (DIG) also offered cash gifts to their shareholders.

However, some businesses are opting for online meetings without gifts in order to save costs. Companies like Vinamilk, Mobile World, and Hoa Binh Group have chosen online meetings due to financial challenges in the current business environment. While some may argue that giving gifts is an effective way to create excitement and engagement during AGMs, others believe that online meetings can still be just as effective if done correctly.

Despite these challenges, many businesses remain hopeful for a recovery in the coming months that will benefit both shareholders and companies themselves. By offering cash and other gifts at AGMs, businesses can help build goodwill with their stakeholders and create a sense of community among their investors. This can ultimately lead to increased engagement and loyalty among shareholders – something that will be crucial in navigating the uncertain economic landscape ahead.

Overall, giving gifts to shareholders is seen as a way to create excitement and engagement during annual general meetings. While some businesses may choose not to offer any gifts at all due to financial constraints or other reasons, others see it as an important tool for building relationships with their investors and driving growth in a challenging economic environment.

In conclusion, giving away money or goods at annual general meetings has become a popular trend among companies looking