Speaking at Sias’s Corporate Governance Conference 2023 on Nov 6, Gerald says big listcos climbed back to an average score of 69.5% for the year ended Dec 31, 2022 after two years of stable results — 65.4% in 2021 and 65.7% in 2022 — in Sias’s Singapore corporate governance scoring system.
Big listed companies in Singapore with market capitalisation of at least $1 billion have improved their corporate governance standards after two years of stagnation. But overall, companies here are lacking in external board appraisals, risk disclosures and dividend policies.
Even though overall scores may have risen and there are isolated bright spots, there is still room for improvement, says David Gerald, founder, president and chief executive officer of the Securities Investors Association (Singapore), or Sias. “Today, more than ever before, Sias has an important role to play in augmenting the efforts of the regulators in enhancing corporate governance standards.”
