When poor governance meets liberal rules
IN APRIL, (my colleague at the National University of Singapore Business School) Richard Tan and I released a report titled "Avoiding potholes in listed companies", published by CPA Australia. The report identified 16 warning signs and red flags in corporate governance, disclosure and reporting...
Hyflux's board ticked boxes but let down stakeholders
IN ITS reply to questions raised by the Securities Investors Association (Singapore) and shareholders at its townhall meetings, Hyflux said:
Improving regulatory transparency
IN my article, "Regulatory enforcement is key to rebuilding trust in market" (BT, July 11, 2018), I called for greater clarity and transparency about the responsibilities, resources and activities for different regulatory bodies to enhance their accountability and increase trust in the...
It's time SGX and sponsors get tougher with firms looking to list
THEY say when life gives you lemons, you make lemonade.
Why minority shareholders don't stand a chance
IN recent years, the lack of effective investor protection in our market has become rather evident. For S-chips and other foreign listings, regulatory enforcement has often been hampered by the inapplicability of laws, cross-border enforcement barriers or runaway miscreants.
Catalist: A platform for growth firms or ICU for mainboard patients?
CATALIST was established in November 2007 as the successor of Sesdaq, and is one of the two boards of the Singapore Exchange (SGX). Modelled after London's Alternative Investment Market (AIM), its sponsor-based regime is similar to AIM's system of regulation through nominated advisers...
Is corporate governance in Singapore on a downward trajectory?
ON Dec 5, the Asian Corporate Governance Association (ACGA) released the 2018 edition of CG Watch which covers 12 Asian markets. The report includes a "top-down" market survey undertaken by ACGA and a "bottom-up" environmental, social and governance (ESG) survey of companies...
Corporate governance at the crossroads
IN AUGUST, the Monetary Authority of Singapore (MAS) issued the fourth edition of the Code of Corporate Governance for Singapore, after an extensive consultation of changes proposed by the Corporate Governance Council (CGC).
SGX makes good disclosures, but needs more transparency on share plans
ON Sept 20, the Singapore Exchange (SGX) held its annual general meeting (AGM), which, according to news reports, was dominated by questions about listed companies suing their own shareholders for defamation.
The things independent directors do for shareholders
INDEPENDENT directors serve as an important check and balance in companies. While they owe fiduciary duties to the company like other directors, they play a special role in safeguarding the interests of minority shareholders.
Governance of trusts: sunny, with a chance of isolated showers
LAST year, we launched the Governance Index for Trusts (GIFT), the first-ever published governance index in Singapore that is specifically developed for listed real estate investment trusts (Reits) and business trusts (BTs) in Singapore. GIFT assesses both governance and business risk factors....