Focus on compliance hurting performance
Corporate governance report also finds Singapore boards having the fewest meetings, lagging in raising gender mix
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Angela Tan
Singapore
TOO heavy a focus on compliance at the expense of corporate strategy may be hobbling the performance of boards in Singapore and the region, a new study has found. This is especially true given the increasingly stringent new legal compliance rules and stock exchange guidelines now in place, said Heidrick & Struggles' Asia-Pacific Corporate Governance Report 2014.
Harry O'Neill, the managing partner for the Asia-Pacific at the Nasdaq-listed professional services firm, said: "In places like Hong Kong and Singapore, where many listed companies are family-owned, boards should regularly benchmark themselves against their peers to identify key differences that impact performance and share price."
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