ASEAN Companies Urged to “Shout Louder” about Their Corporate Governance Practices

The ASEAN Corporate Governance Scorecard briefing was jointly organised by the Singapore Institute of Directors (SID) and the NUS Centre for Governance and Sustainability (CGS). From left: Mr Edwin Lee, Deputy CEO, SID; Mr John Lim, past SID Chairman; Guest-of-Honour Mr Lim Tuang Lee, Assistant Managing Director (Capital Markets) at the Monetary Authority of Singapore, Prof Lawrence Loh, Director, CGS; and Mr Terence Quek, CEO, SID.

In the ASEAN Corporate Governance Scorecard (ACGS) briefing on 3 November 2025, Guest-of-Honour Mr Lim Tuang Lee, Assistant Managing Director (Capital Markets) at the Monetary Authority of Singapore (MAS), likened good governance to building organisational fitness. The goal is also a continuous journey of progression rather than one of perfection. Drawing a parallel from his own experience as a parent navigating the Primary School Leaving Examination (PSLE), he urged companies to “work smarter and work harder” by using keywords and covering more ground in their disclosures.

*Guest-of-Honour Mr Lim Tuang Lee, Assistant Managing Director (Capital Markets), MAS, giving the opening remarks.*

The event was co-organised by the Singapore Institute of Directors and the Centre for Governance and Sustainability (CGS) at the National University of Singapore Business School. Appointed by MAS as the domestic ranking body for Singapore, SID and CGS have been assessing Singapore-listed companies as part of ACGS since 2013.

In his presentation, Mr John Lim, nominated Singapore corporate governance expert for ACGS and past SID Chairman, shared that over the past 12 years, ASEAN companies’ corporate governance performance has seen significant improvement. However, to raise global visibility and attract greater investor interest, the companies should disclose more about their good practices.

*Mr John Lim, nominated Singapore corporate governance expert for ACGS and past SID Chairman, urged companies to disclose more.*

Prof Lawrence Loh, Director, CGS, presented on the performance trends of Singapore-listed companies in the ACGS. The performance was also compared between top and lower-scoring performers in various assessment categories.

*Prof Lawrence Loh presented on Singapore-listed companies’ performance in the ACGS.*

In the Q&A session, Mr John Lim and Prof Loh discussed topics including ranking movements and the interplay between corporate governance quality and capital market performance. The event also featured the announcement of the Top 5 Singapore companies and the 53 Singapore entities in the ASEAN Asset Class.

*Prof Lawrence Loh (left) and Mr John Lim fielded questions from the audience.*

*The briefing was held at the SGX Auditorium.*

Closing on a light-hearted note and encouraging companies to disclose more, Prof Loh quipped in response to Mr Lim Tuang Lee’s PSLE analogy — PSLE could also stand for “Please Shout Louder Everybody”!