ASEAN Corporate Governance Scorecard. Country Report for Singapore 3 April Dr Lawrence Loh. Director. Centre for Governance, Institution &. At Globe, we are committed to continuously adopt and strongly advocate for the ACGS. View our ASEAN corporate governance scorecards. The ASEAN corporate governance scorecard is an initiative under the ASEAN Capital Markets. Forum (ACMF). The ACMF endorsed the ASEAN scorecard and .
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Firms in South-east Asia most positive about outlook: And that’s because, I was told, when they sdorecard for people to join their civil service, they picked people from a certain family, who came from a certain school, regardless of what their abilities were.
Six in 10 companies had no women directors; three in 10 had just one.
We are behind Malaysia, behind Indonesia; so, I think we compare very badly. To achieve this target, we need to double the number of female directors we have.
The country report for Singapore, part of the Asean Corporate Governance Scorecardindicated that the development of CG practices here has essentially flatlined, and that the gap in standards between the large-capitalisation large-cap companies and sforecard rest of the field is continuing to widen.
While 37 per cent of the Singapore companies provided a detailed policy including measurable objectives, only four companies reported on the progress of achieving their board diversity objectives and targets. Singapore companies’ progress flatlines.
Nissan updates governance code after arrest of former head. But when they picked players for their football team, they went to every part of the country and picked those who could play. I think we are just not paying sufficient attention in the selection asewn, and we are ignoring what is a big part of scprecard talent pool.
Associate Professor Lawrence Loh, the director of the CGIO, said another worrying finding was the widening gap between better performing large-cap companies and the rest. She also said that quotas could have unintended consequences.
When asked if this should be achieved by way of instilling quotas for female representation on boards, panellist Lim Hwee Hua, who serves on the board of United Overseas Bank, said she was not against quotas but that they should not be the first step to increasing the number of women directors on boards.
However, a breakdown of the score into the five major evaluation areas showed that while companies did mildly better in shareholder rights, the equitable treatment of shareholders and the role of stakeholders, they fared worse in the areas of disclosure and transparency, and responsibilities of the board.
A recent revision in the scorecard puts greater emphasis on board diversity, which includes disclosing a detailed diversity policy, and having female directors on board.
Mr Lim said quotas do not sit well with him, as he believes aesan favour the end result, not the process. Skip to main content.
Mr Lim was even more pointed with his views on how Singapore companies compare with their peers in diversity practices: Michelle Quah michquah sph. On the edge of a new Cold War.
Bank of America Merrill Lynch report. Singapore is third from the bottom, ahead of only Japan and South Korea. Another topic that engendered much discussion on Tuesday was diversity in Singapore companies and boards. Going back toit assesses the CG of the largest publicly listed companies in six participating Asean nations.
Asean Corporate Governance Scorecard: It is a stretch target, but it will be possible to achieve if we can collectively make a serious commitment to do so. She suggested looking at the 60 per cent of companies with no women directors on scotecard boards to find out why this is so.