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SINGAPORE CORPORATE AWARDS 2019

The Oscar winners of corporate governance

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Singapore Corporate Awards 2019 was held on July 23, 2019, at the Resorts World Convention Centre.

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Emcees Elaine Yew, senior partner and global co-head, leadership advisory practice of Egon Zehnder, and Terry O’Connor, OBE, executive adviser and former group CEO of Courts Asia Ltd, entertained the audience for the night.

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Patrick Lee, CEO of Standard Chartered Bank (Singapore).

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OCBC chairman Ooi Sang Kuang (left) and chairman of CapitaLand Ltd Ng Kee Choe.

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Panote Sirivadhanabhakdi (2nd from right), Group CEO of Frasers Property Ltd, and his team.

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From left: Boon Yoon Chiang, deputy chairman of Jardine C&C Ltd; Piyush Gupta, CEO of DBS Group; Goh Choon Phong, CEO of Singapore Airlines Ltd; and Samuel Tsien, OCBC Bank Group CEO.

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Alex newbigging, jardine c&c group managing director.

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SCA 2019 co-hosts Kyle Shaw, executive chairman of AMOS Group, and Elizabeth Kong, SingPost board member.

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Ho Kwon Ping, founder of Banyan Tree Holdings Ltd, with his daughter Ho Ren Yung.

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Robson Lee (left), partner, Gibson, Dunn & Crutcher LLP, with Xu Guohong, CFO of China Aviation Oil (Singapore) Corporation Ltd.

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SCA 2019 co-hosts Jeannie Ong, executive consultant, and Gabriel Yap, chairman of GCP Global Pte Ltd.

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Deputy Prime Minister and Finance Minister Heng Swee Keat.

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SCA 2019 co-hosts Colin Low, chairman of Singapore Investment Development Corporation, and Goh Swee Chen, chairperson of Institute for Human Resource Professionals.

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From left: Tham Sai Choy, chairman of SID; Deputy Prime Minister and Finance Minister Heng Swee Keat; and (extreme right) Yeoh Oon Jin, managing partner of PwC; with the gold award winners of the Best Managed Board award group. (3rd from left): OCBC chairman Ooi Sang Kuang; CapitaLand Ltd chairman Ng Kee Choe; Frencken Group Ltd chairman Gooi Soon Chai; and Banyan Tree Holdings Ltd executive chairman, Ho Kwon Ping.

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William Liem, ED & CEO of Tuan Sing Holdings.

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From left: Lee Boon Teck, audit partner of Deloitte Southeast Asia, and winners of Best CFO Award, Mary Lee (Vicom Ltd); Stephen Ho (Wilmar International Ltd); David Leung (iFAST Corporation Ltd); with award presenter Ong Khiaw Hong, CEO of ACRA.

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Miyoshi Ltd’s CEO Andrew Sin (left), receiving the inaugural Risk management Award from Ong Chong Tee, deputy managing director, financial supervision, Monetary Authority of Singapore.

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From left: Warren Fernandez, editor-in-chief of SPH English/Malay/Tamil Media Group; Tan Chin Hwee, SPH board member; Samuel Tsien, OCBC Bank Group CEO; and Chow Wan Thonh, Standard Chartered’s director and head of global banking Singapore.

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SCA 2019 co-hosts Sin Boon Ann, Drew & Napier consultant, corporate and finance, and Adeline SIm, HRnet Group’s ED/chief legal officer.

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Kong Chee Min (extreme left), CEO of Centurion Corporation with (from second left) SPH board member Tan Chin Hwee, CEO Ng Yat Chung, board members Janet Ang, Tan Yen Yen, and deputy CEO Anthony Tan.

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Jim Rogers, director of Geo Energy Group.

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From left: SCA co-organisers Wong Wei Kong, editor of The Business Times; Wong Su-Yen, vice-chair of Singapore Institute of Directors; and Kelvin Tan, secretary, Institute of Singapore Chartered Accountants.

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SCA 2019 co-hosts Lester Wong, CFO of NetLink NBN Trust and Lim Cheng Cheng, Group CFO of Singtel.

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From left: Recipients of Best CEO Award Lui Chong Chee (Far East Orchard Ltd); Goh Choon Phong (Singapore Airlines Ltd); and Lee Sze Leong (Sing Investments & Finance Ltd).

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SCA 2019 co-hosts, ED/CFO of Far East Organisation, Koh Kah Sek (left), and deputy head of corporate practice group, Rajah & Tann, Chia Kim Huat.

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Industry talent Victor Lai (right), with the Deloitte Band.

THE "Oscar" winners of Singapore's corporate scene were honoured at the 14th edition of the Singapore Corporate Awards at the Resorts World Convention Centre on July 23.

The black-tie event, jointly organised by The Business Times, Singapore Institute of Directors, and Institute of Singapore Chartered Accountants, honoured 38 companies and six individuals for leading the way in corporate governance and shareholder communication.

Four groups - CapitaLand, DBS Bank, Keppel Corporation, and United Overseas Bank - led winners with multiple awards.

The event was supported by the Singapore Exchange and the Accounting and Corporate Regulatory Authority, with Standard Chartered Singapore as the presenting sponsor, and Jardine Cycle & Carriage as the co-sponsor.

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In the top accolade - the "Best Managed Board" category, CapitaLand and OCBC clinched the gold award in the big-cap category, while Banyan Tree Holdings and Frencken Group walked away with the gold award in the mid- and small-cap categories, respectively.

The "Best Managed Board" award celebrates companies with multi-dimensional excellence in transparency, accountability, performance orientation, good processes and practices. The creation of shareholder value is also one of the criteria.

Ng Kee Choe, chairman of CapitaLand, on receiving the award on behalf of the board and staff, said he was "delighted to be honoured".

"At CapitaLand, we embrace and practise high standards of corporate governance because it is the right thing to do, and it is also beneficial to the company and its shareholders."

This was CapitaLand's first time at the awards as an enlarged group since its combination with Ascendas-Singbridge to become one of Asia's largest diversified real estate groups.

OCBC chairman, Ooi Sang Kuang, also said in an earlier roundtable with The Business Times that regulatory compliance has always been a part of the operating landscape, and the landscape has evolved significantly in recent years, and will continue to do so for years to come.

"While the cost of compliance can be a burden, we view this as a good investment for sustainability. In particular, it builds trust in us."

The three outstanding CEOs crowned came from Singapore Airlines, Far East Orchard and Sing Investments & Finance in the various categories by market capitalisation. They are respectively Goh Choon Phong, Lui Chong Chee and Lee Sze Leong.

The best chief financial officer awards went to Wilmar International, Vicom Ltd and iFAST Corporation, namely Stephen Ho, Mary Lee and David Leung.

An inaugural award for best risk management was given to eight companies; the gold winners were DBS Group Holdings and China Aviation Oil (Singapore) Corporation.

The Special Recognition Award, in its fourth year running, was awarded to DBS Group for a second consecutive year. Last year, DBS was recognised for its all-round excellence in corporate governance.

Deputy Prime Minister and Finance Minister Heng Swee Keat, the guest of honour at the event, in his speech that evening also urged the corporate sector to work more closely with the government, especially against a backdrop of slowing global and domestic growth, in order to promote forward-looking, pro-business regulations and policies.

Photos by: ALVIN TAN and KHIDZER CHONG