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Singtel tops governance rankings
SINGTEL has been ranked the most well-governed and transparent company - for the sixth time - in the Singapore Governance and Transparency Index (SGTI), thanks to its robust disclosure of board responsibilities and exact executive remuneration, and its stakeholder engagement practices.
The SGTI is an enhanced version of the Governance and Transparency Index (GTI) published in previous years. The SGTI incorporates new elements with the inclusion of G20/OECD Principles of Corporate Governance.
The index is jointly published by CPA Australia, NUS Business School's Centre for Governance, Institutions and Organisations and the Singapore Institute of Directors, with The Business Times as strategic media partner.
DBS Group Holdings took second spot in this year's rankings, while the Singapore Exchange and CapitaLand came in third and fourth, respectively. Keppel Corp was in fifth place.
The overall scores of all listed companies improved this year. Philip Yuen, CEO of Deloitte Southeast Asia and the Singapore divisional president of CPA Australia, said in his welcome address at the Singapore Governance and Transparency Forum 2016 on Wednesday, where the results were announced: "The annual scores achieved by listcos (listed companies) since 2009 are at an all-time high this year - a fine testimony to the hard work they have put in to achieve better governance."
He also announced that the parties are now studying how to assess the corporate governance practices of real estate investment trusts (Reits) and business trusts, previously excluded due to their different set-up and structures.
"As you know, there is a vibrant Reits and business trust market in Singapore. There are also enhanced regulatory requirements for governance in this category of listings. So, we believe the time is right to give focus to governance issues at Reits and business trusts. We are targeting to launch a ranking of Reits and business trusts by this time next year," Mr Yuen added.