Take changes to corporate governance rules in the right spirit

THE Code of Corporate Governance for listed companies in Singapore has been revised twice, in 2005 and 2012. With corporate governance practices evolving globally, it is timely that another review is underway.

In doing the review, the Corporate Governance Council, convened in last February to review the code, has a difficult balancing act in terms of ensuring that it remains effective and relevant while continuing to support business growth and innovation.

Among the proposals released last week in a consultation paper, generating the most debate is likely to be the one on the "nine-year rule" for independent directors (IDs).