|Date:||6 August 2018|
|Venue:||Marina Mandarin Hotel, Main Ballroom|
Assoc Professor Lawrence LOH
NUS Business School
Guest of Honour:
Mr ONG Chong Tee
Deputy Managing Director (Financial Supervision)
Monetary Authority of Singapore
Mr Robert CHEW, Managing Partner, iGlobe Partners
Ms Rachel ENG, Deputy Chairman, WongPartnership LLP
Mr Alex HUNGATE, President & CEO, SATS
Mr Melvin TEO, Executive Director & Group Chief Executive Officer, Yeo Hiap Seng Ltd
Moderator: Mr Melvin YONG, Country Head, - Singapore, CPA Australia
The Centre of Governance, Institutions and Organisations (CGIO) of NUS Business School, together with CPA Australia (CPAA) and Singapore Institute of Directors (SID) launched the Singapore Governance and Transparency Index (SGTI) ranking results and key research findings on 6 August 2018. The number of guests (comprising board directors, C-suites and senior executives) at this 2018 event surpasses that of 2017, reflecting increasing interest in the results and latest development in the corporate governance scene.
The SGTI forum also coincided with the release of the new Code of Corporate Governance (CG) Standards by Monetary Authority of Singapore (MAS) on the same day.
Mr Ong Chong Tee, Deputy Managing Director of MAS delivered the keynote address at the forum. In his speech, he outlined the considerations for the revised CG framework which included the views of various stakeholders. Besides looking into the regulatory framework, MAS is also aware of the public’s call for quicker and harsher actions in response to CG violations. It will continue to exercise its role in this area and will be providing regular updates on its website, press release and annual report.
Associate Professor Lawrence Loh, CGIO’s Director presented the SGTI CG trends and key highlights. Professor Loh noted that while there has been improvements in the 5 key assessment areas in CG practises, 2 main areas need further strengthening. They are board independence and director tenure, and sustainability. The presentation was followed by an insightful panel discussion comprising industry leaders on the SGTI findings. Key takeaways of the panellist discussion included:
- Suggestions in improving stakeholder engagement amongst Singapore-listed companies, REITs and Business Trusts,
- The importance of establishing board transparency through independence of board directors and tenures; and
- Outlets in which companies can be more involved in better corporate governance disclosures and practices.
The eventful SGTI forum attracted an extensive media coverage from The Business Times, Channel News Asia, and The Straits Times amongst other media reports.
For SGTI ranking results, presentation and methodology, please visit: http://bschool.nus.edu/cgio/our-research/sgti
For news coverage, please visit: http://bschool.nus.edu/cgio/in-the-news