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Corporate governance at the crossroads

Can Singapore companies and directors transcend compliance to a more principle-based approach?

Independent directors having business relationships with the company, its related corporations, its substantial shareholders or its officers, and independent directors having personal interests in business transactions undertaken by the company, are a relatively common threat to the independence of directors in companies. Companies should be totally transparent about business and other relationships involving independent directors.

IN AUGUST, the Monetary Authority of Singapore (MAS) issued the fourth edition of the Code of Corporate Governance for Singapore, after an extensive consultation of changes proposed by the Corporate Governance Council (CGC).

Since the Code was first introduced in 2001, there has been a...

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