More can be done to elicit detailed director remuneration disclosures

CONFIDENTIALITY, a competitive industry, prejudice to a company's interest, recruitment and retention issues. These are some of the common excuses offered by listed companies to explain why detailed disclosure on remuneration for their individual directors or chief executives (CEOs) is not provided.

During the launch of the Singapore Institute of Directors' (SID) Singapore Directorship Report 2021 last week, it was noted that disclosure of directors' remuneration was among the least complied provisions of the Code of Corporate Governance (CG Code).

Of the 695 companies studied, 38 per cent disclosed detailed compensation in accordance with the CG Code. This was a slight improvement from the last survey in 2018, when just over 33 per cent provided such disclosure. Meanwhile 54 per cent only provided details of the remuneration in bands.