Hi Andy,
You’re welcome.
Unfortunately, I do not have any fixed template of what to ask during the AGM. My experience taught me those questions are usually auto-generated when you study and analyse the company. Any part you’re not cleared, it becomes a question for you to ask during the meeting.
Let me give you an example. My recent AGMs, I was trying to figure out why Wilmar interest income ($600m) is higher than its interest expense ($550m) even though the cash amount ($7.4 billion) is far less than its loans ($22 billion). Simply said, Wilmar is generating a lot of interest income (8%) than the cost of debt (2.5%) paid. It was something puzzling for me so I put forth this question during the AGM.
Questions can be generated in many ways. It really depends on what kind of news you follow or what information you want to know about the company, you can direct the question to that topic. For example, if you want to know about competition, you can specifically ask about its competitors. One common question that Philip Fisher loved to ask is “What are you doing your competitors aren’t doing yet? You can find out more here (click). I learnt a lot from Philip Fisher, especially on the qualitative side.
Thanks for always asking intelligent question!
