What is the difference between AGM and EGM in Malaysia?

There are about 1783 companies listed in Bursa Malaysia. Every year, these companies will hold AGM or EGM to meet their shareholders to inform shareholders about their companies’ performance and future directions. I was quite confused, what is the difference between AGM and EGM? So, I decided to find out…Below is what I find out in summary:

AGM (Annual General Meeting)

An organization may conduct its business at the annual general meeting. The business may include electing a board of directors, making important decisions regarding the organization, and informing the members of previous and future activities. At this meeting, the shareholders and partners may receive copies of the company's accounts, review fiscal information for the past year, and ask any questions regarding the directions the business will take in the future.

At the annual general meeting, the chairman or director of the organization presides over the meeting and may give an overall status of the organization. The secretary prepares the minutes and may read important papers. The treasurer may present a financial report. Other officers, the board of directors, and committees may give their reports. Attending this meeting are usually the members or the shareholders of the organization, depending on the type of organization.

In Malaysia, public-listed companies usually held their AGM annually. Door gifts are usually given, meals are provided and the parking is subsidized for those who attended. Stay tune for a list of 2015 companies AGM door gifts list.

EGM (Extraordinary General Meeting)

An extraordinary general meeting (EGM) is a meeting other than the annual general meeting between a company's shareholders, executives and any other members. An EGM is usually called on short notice and deals with an urgent matter i.e. removal of an executive where this events require shareholders to come together to solve the problem.

In Malaysia, public-listed companies will hold EGM sometimes. In such an urgent short-notice meeting, usually no door gifts will be given.