QAF Limited conducted its annual general meeting (AGM) at Parkroyal on Pickering on 24 April 2017. Since Heartland Boy has always believed that meeting management would sharpen his investment thesis, he tried his best to avail himself that day. Furthermore, QAF Ltd is a stock that takes up a substantial portion in his investment portfolio. Fortunately, some combination of good fortune allowed Heartland Boy to attend the AGM. Firstly, that day was a public holiday in Indonesia and hence Heartland Boy need not work. More importantly, Standard Chartered approved him as one of the few registered proxies of the custodian account. Here is a review of what trended at QAF Limited AGM 2016.

  1. A Challenging Operating Environment

In summary, the clarion message sent out by Mr Goh Kian Hwee, Joint Managing Director, was that the operating environment ahead will be extremely challenging. For the primary production, he mentioned that …