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Room for more ambitious market regulations

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Kenneth Lim

Kenneth Lim

Published Tue, Oct 24, 2023 · 05:00 AM
    • System-wide change among Singapore's corporates can come faster if market regulations aim higher.
    • System-wide change among Singapore's corporates can come faster if market regulations aim higher. PHOTO: PIXABAY

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    A NEW report by the Singapore Institute of Directors (SID) has shown that a significant proportion of Singapore-listed companies are still not complying with the coming rules on independent directors’ term limits and remuneration disclosures, which are set to kick in just a few months from now.

    The SID report (which was based on data as at end-2022) found that 462 long-serving independent directors of Singapore-listed companies may need to be replaced in the coming months, as a hard cap on term limits kicks in.

    These directors occupy about a fifth of board seats, and have served on the boards of their companies for at least nine years.

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