Public Bank AGM 2017

Public Bank AGM

I attended the long awaited Public Bank AGM on 27 March 2017. It being my first time to a Public Bank AGM, I didn’t know what to expect. It’s tough to put into words the atmosphere of an AGM so I’ll let the photos I took do most of the talking. I’ve received photos from some of our readers and compiled the of them for your viewing pleasure. Thank you again, contributors!

So there were 2 main reasons I wanted to attend this year’s AGM. First and foremost, the door gift. And also to meet the legend himself – Tan Sri Dato’ Seri Dr. Teh Hong Piow, founder of Public Bank. He is 87 this year.

I realize I could’ve improved this post with the full documentation of my journey. But alas, I’m still a newbie. I’ll learn.

Getting there

According to the notice, the AGM was poised to begin at 11 am sharp. Registration started as early as 7 am. Reading around online, I figured that parking would be an issue. So I decided to try out our new LRT. The whole journey took me about an hour and cost RM4.

The AGM was held at Shangri-La hotel in Kuala Lumpur. I arrived at 10 am and boy was I glad I took the train. The picture doesn’t really show it but it was a complete standstill outside the hotel. It didn’t help that all the drivers were old people..

Public Bank AGM

We arrived just in time to catch a glimpse of Tan Sri Dato’ Seri Dr. Teh Hong Piow with his entourage walking into the hotel. All attempts of getting a picture of him with me inside failed miserably. I did snap a shot of his ride – it is a Rolls Royce. And he seems to love the number 3, all three cars had them.

Public Bank AGM
Tan Sri Teh Hong Piow’s Ride


Next step was registration. They had like 20 counters so there wasn’t much queueing up to do. It took all but 5 minutes to register with my NRIC and get my doorgift. It was a bloody red-colored bag that says Public Bank at the side. Major disappointment. I guess useful now that Malaysia is implementing the no plastic bags rule all over.

Public Bank AGM


As specified in the AGM notice, refreshments will come in the form of coffee and tea. Nothing else. I made do with some water and headed across the street for some sandwiches at O’Briens.

Public Bank AGM
The ‘Refreshments’
Public Bank AGM
Old People Everywhere!

The Annual General Meeting

Finally, at 10.45 am, I headed down to the main hall for the main event – Public Bank AGM. 90% of shareholders attending the AGM were old folks, where are all the young Malaysian investors at?! The only youngsters below the age of 40 I see there were Public Banks’ staff.

Also, as seen in some of the pics, the main hall where Public Bank AGM was supposed to be held was fully seated. It was a sad and pitiful sight to see so many old people being forced to stand around throughout the duration of the AGM. Many couldn’t take it and had to leave the hall, not to be let in again.

Public Bank AGM
Heading down
Public Bank AGM
More old people
Public Bank AGM
In the main hall. More.
Public Bank AGM
And more!
Public Bank AGM
It begins

Public Bank AGM

Public Bank AGM
The man himself
Public Bank AGM
The stuff you hear everyone preach


Rant incoming. I really hate Malaysians. We are sorely lacking in class. When the board of directors opened up for questions from the floor, guess what happened?

  1. Uncle Singh came up to the mic and complained about the bad service and malfunctioning of the thumbprint readers at his branch;
  2. Chinese Auntie was next, she congratulated the directors, wished Tan Sri good health etc… And proceeded to promote her god damned charity. Even had the audacity to shout out her phone number to get donations;
  3. More congratulations and wishing of good health for the chairman;
  4. A woman in kebaya claims she flew from east Malaysia because her parents sent her to request for FD for senior citizens that pay monthly interests;
  5. Middle aged guy asked to continue the FD promo because he likes it; and
  6. More congratulations and wishing of good health for the chairman.

Seriously.. wtf. An AGM isn’t the avenue to discuss your bloody thumbprint reader at your kampung branch. Neither is it the place to ask for donations for your charity!!

The board of directors and the founder of Public Bank doesn’t want to hear you wishing him good health 20 times during a meeting. As for your FD requests, take it up with your branch manager or something. Not to the board of directors. GEEZ

Apologies for the rant but seriously every single one of the shareholders either asked stupid questions or said stupid stuff. Essentially, everybody’s’ time was wasted. The chairman of the meeting was visibly pissed and I really respect him for having the patience to deal with Malaysians.


That last picture. That same phrase and mantra have been repeated time after time. You hear it, especially from your relatives and grandparents. It goes like this ‘If you purchased 1,000 units of Public Bank shares 50 years ago, subscribed to all its rights issues, and reinvested all dividends. You’d be a millionaire today. So during this Public Bank AGM, they did the math and came up with this diagram. Not only would you be a millionaire, you’d have RM4.1 million today.

It goes like this ‘If you purchased 1,000 units of Public Bank shares 50 years ago, subscribed to all its rights issues, and reinvested all dividends. You’d be a millionaire today. So during the Public Bank AGM, they did the math and came up with this diagram. Not only would you be a millionaire, you’d have RM4.1 million today.

Also the 19% compounded return p.a.

My comments about old people are meant as light hearted humor. I respect my elders and if anything, the showing of so many elderly people at this Public Bank AGM is a sign of the trustworthiness and capabilities of the bank. So please refrain from sending me any hate mail on this issue. 

As always, thank you for reading guys. I hope more of you will be able to join me for other AGMs in the future. 

Public Bank and Public Mutual

Public Bank Group

I added 600 units of Public Bank (“PB Bank”) shares back in March 2016 at RM18.50 a piece to my Freedom Fund. In my view, PB Bank although not the largest is one of the best-managed banks in Malaysia.

You often hear Malaysians lauding the exceptional customer service and complaining about the strict loan requirement imposed by the bank. As a shareholder and part owner (a very small part) of the bank, I smile every time I hear these.

Moving onto the facts and figures, the bank’s performance speaks for themselves as shown in the summary of the annual report I received this month.

Public Bank Annual Report 2016

Public Bank Annual Report 2016
PB Bank 5 Year Summary

Apologies for the somewhat blurry image. I’ve also uploaded the full Annual Report for everyone interested: Public Bank Annual Report 2016

The two key figures I always look at are Net Profit as well as Equity. And PB Bank’s numbers has been increasing every year.

As usual, I will not go into too many details on the company. If you’re investing in a business, read the whole report and understand everything.

I’d be more than glad to answer your specific questions regarding the annual report. However, questions like ‘What do you think I should invest in?’ or ‘Will Company A’s profit continue to increase?‘ should be answered by you alone.

Public Bank and Public Mutual

I’m sure most of you remember how I’m against Public Mutual? How they charge exorbitant fees?

The question to ask yourself is – Who owns Public Mutual? If you don’t already know, Public Mutual is wholly owned by the group and as a shareholder, I can’t be happier. If you do invest with Public Mutual, consider investing instead in PB Bank instead. Let the fees work in your favor instead of the other way around.

Another perk, every time a public mutual agent approaches you, you can tell him/her you already invest without having to lie. If they persist, you can go on a long educational talk and preach how investing in Public Bank is better than Public Mutual funds.

Public Bank AGM

Together with the annual report was the notice of annual general meeting (“AGM”).

The bank’s AGM will be held on 27 March 2017. I’ll be attending so those of you who are heading there let me know! Hope to meet those of you who are PB Bank’s shareholders there.

I’ll be sure to snap some pictures and keep the rest of you posted as well.

Public Bank AGM
Notice of AGM