FAILURE is often regarded as the springboard to greater success in life. Often enough, people who persevere will emerge stronger from their failure.
And the gutsy stance of Tricor Investor & Issuing House Services Sdn Bhd’s (TIIH) to all shareholders of Malayan Banking Bhd (Maybank) whose 61st annual general meeting (AGM) on Thursday (April 15) has to be postponed indefinitely could not be more timely.
After all, a sincere apology is known to be able to mend broken bridges by letting people know that one is not proud of what one did and will endeavour to not repeat similar outcome in the future.
Tricor Malaysia’s senior executive director Saw Wai Chuan admitted that TIIH should have undertaken a comprehensive, robust and thorough testing on compatibility and volume durability arising from its recent migration to cloud server to ensure quality control and assurance of its services
“TIIH has been using its TIIH Online to provide remote participation and voting (RPV) services to close to 260 meetings since last year,” she pointed out in a note dated April 16 to all Maybank’s shareholders.
“It was very unfortunate that our shortcomings caused a great impact to Maybank’s AGM yesterday (April 16).”
According to Saw who is also Tricor Malaysia’s head of investor services, TIIH migrated to a cloud server solution last week to better manage its risk as part of its objective to provide higher reliability level to its client on its TIIH Online.
“Our team had since identified the root cause of the downtime yesterday,” she noted. “To the 2,036 RPV participants who had successfully logged in to TIIH Online and cast their votes yesterday, we assure you that the records will be shared with Maybank.”
Additionally, TIIH has also sent out two e-mail notifications on April 15 (from 10.18am to 11.35am) to the registered RPV participants to (i) inform them about the technical issue that had caused users to be unable to login to TIIH Online, and (ii) on the decision by the Maybank’s board of directors to re-schedule the meeting to another time and date.
“We had also done our very best to reply to all e-mail enquiries received by us,” she revealed.
“However, due to the sudden high volume of enquiries via e-mails and telephone calls, we may not have responded to some of you as speedily as we should have. We take this opportunity to express our sincere apology for our shortcomings.” – April 17, 2021
