Leading lights in corporate governance

RESORTS World Sentosa was the venue of several coronations on July 18 this year, with the Who's Who of the local business scene showing up for the prestigious 13th annual Singapore Corporate Awards.

The very best in corporate governance and shareholder communication were feted that night, at which honours in five main categories were presented to individuals, as well as large-, mid- and small-cap companies. The five categories are: Best Managed Board, Best Chief Executive Officer (CEO), Best Chief Financial Officer (CFO), Best Investor Relations, and Best Annual Report.

DBS Group was conferred the Special Recognition Award for its "all-round excellence in corporate governance".

In a welcome address, Kelvin Tan, council member of the Institute of Singapore Chartered Accountants (ISCA), quipped that DBS had struck the "royal flush" - being the first company to have won in each of the five categories of awards from 2013 to 2017.

In all, 34 companies and six individuals were honoured this year.

Leading the way were property groups CapitaLand, which swept four awards, as well as Tuan Sing Holdings which bagged three. Centurion Corporation, the Frasers group, SATS and Japan Foods snagged two awards each.

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CapitaLand clinched a silver for the Best Managed Board among the large-caps, which is meant for companies with a market value of S$1 billion or more. CapitaLand Mall Trust Management (CMT) scooped two silvers, one for Best Investor Relations, and the other for Best Annual Report.

CapitaLand Commercial Trust Management (CCT) completed the group's haul with a gold for Best Annual Report. Awards for both CMT and CCT came under the Reits (real estate investment trusts) and business trusts section.

The best chief executive awards went to Alexander Hungate of large-cap SATS, Melvin Teo of mid-cap Yeo Hiap Seng, and Christopher Borch of small-cap Micro-Mechanics (Holdings).

Separately, best CFO gongs went to Lim Cheng Cheng of large-cap Singtel, Chong Chou Yuen of mid-cap Tuan Sing Holdings, and Kenneth Liew of small-cap Japan Foods Holding.

Speaking at the SCA, guest of honour and Minister in the Prime Minister's Office, Ng Chee Meng, said: "As a nation, our answer is clear. We must and will take them (transformations and disruptions) by the horns and adapt, change, innovate and transform to stay ahead of competition. In our disrupted world, our companies must be nimble and adaptable to transform and meet changing market demands."

At the glitzy ceremony, executive chairman and CEO of Bumitama Agri, Lim Gunawan Hariyanto - who flew his own band all the way from Jakarta - also serenaded the crowd with three songs, one of which was What a Wonderful World'

The SCA is jointly organised by the The Business Times, Singapore Institute of Directors and ISCA, with the support of the Singapore Exchange and the Accounting and Corporate Regulatory Authority.