SIAS: Gems is not a different governance code for SMEs

I REFER to the article "New corporate governance rating framework for SMEs" (BT, Oct 28), which reported the discussion on corporate governance of small and medium enterprises (SMEs) at the SIAS Global Corporate Governance Conference.

The session highlighted that almost 80 per cent of the companies listed on Singapore Exchange are worth below S$500 million, and discussed the corporate governance of SMEs and the existing governance ratings methodology may not be sufficiently useful for assessing the governance of smaller companies.

Current governance ratings assess companies primarily based on their disclosures of governance practices over a one-year period.