WHAT a twist of fate that Tricor Malaysia has to endure today – all in a matter of half-an-hour!
At 9.30am, Tricor Services Malaysia Sdn Bhd which prides itself as the leading provider of company secretarial services in the country issued a media release entitled “Tricor continues to support the digitalisation of Corporate Malaysia”.
In gist, the media release was intended to inform the public that the group will continue to spearhead the digital transformation of Corporate Malaysia in order to help clients circumvent the pervasive disruptions of COVID-19.
“In line with this, Tricor Malaysia has unveiled Boardfolio, a critical digital tool for local corporations to seamlessly and safely manage critical activities of corporate boards on a secure, private cloud-based platform,” the group noted.
“Tricor Boardfolio allows corporate boards to seamlessly and virtually collaborate ensuring all documentation and sensitive data are securely accessible and protected.”
However, over at Menara Maybank, another subsidiary, Tricor Investor & Issuing House Services Sdn Bhd, was struggling to fix a big-time technical glitch.
The company was the remote participation and voting facility provider to Malayan Banking Bhd’s (Maybank) 61st annual general meeting (AGM) which was to be staged virtually, but was forced to be postponed due to the arising technical complications.
That the incident involved the country’s largest banking group could be a costly affair to Tricor Malaysia as the company holds a commendable market share as a provider of remote participation and voting facilities.
Beyond that, the incident will probably spark scrutiny by market regulators – both the Securities Commission and Bursa Malaysia – as this is deemed the duo’s ‘pet project’ in light of how to ensure Corporate Malaysia continues to function amid the COVID-19 menace.
And judging by the manner the client word the ordeal on the very first paragraph of its media release – by attributing the glitch squarely on Tricor Malaysia – spells unpleasantness of sorts:
“Maybank regrets to announce that its 61st Annual General Meeting of shareholders to be held today, April 15 2021, has been rescheduled owing to a technical issue faced by the Remote Participation and Voting Facility provider, Tricor Investor & Issuing House Services Sdn Bhd (Tricor).”
Hopefully, the age-old adage, “to err is human, to forgive is divine” will prevail for Tricor Malaysia in the eyes of Maybank. – April 15, 2021
