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Proxy advisers recommended ComfortDelGro shareholders to vote against reappointment of Deloitte & Touche as auditors

Felicia Tan
Felicia Tan4/29/2022 12:45 PM GMT+08  • 2 min read
Proxy advisers recommended ComfortDelGro shareholders to vote against reappointment of Deloitte & Touche as auditors
Shareholders holding some 74.44% of votes, or 514.6 million shares in CDG, voted against the auditor’s reappointment. Photo: CDG
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Deloitte & Touche will cease to be the auditors of ComfortDelGro (CDG) following the latter’s annual general meeting (AGM) on April 29.

The proxy advisers recommended that shareholders vote against the re-appointment of Deloitte. This is because any non audit fees paid to the auditor can’t exceed 50% of the annual audit fee in a particular year.

Last year when ComfortDelgro was trying to list its Australian business Deloitte was remunerated for advisory work.

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