Noble should pay heed to its corporate governance
Its practices in picking its board of directors, remuneration policy and degree of disclosure fly in the face of a company that is reportedly working on improving transparency.
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THE third report issued by Iceberg Research and some commentators have touched on the corporate governance of Noble Group, in particular the long tenure of some of its independent directors. However, there has not been an in-depth assessment of its corporate governance.
The Governance and Transparency Index (GTI), published by The Business Times and the National University of Singapore's Centre for Governance, Institutions and Organisations (CGIO) and sponsored by CPA Australia, provides an indication of the overall quality of Noble's corporate governance and transparency. The 2014 GTI gave it an overall score of 41, placing it in 293rd position in a field of 644 companies covered. This was an unusually low ranking for such a large company. Interestingly, in 2013, Noble was ranked far lower - at 503 - with a score of just 28.
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