Deputy Prime Minister, Minister of Finance, Deputy Chairman of the MAS Board Lawrence Wong
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Singapore MAS Chairman Lawrence Wong on Raising Corporate Governance Standards for Listed Companies: SGX Listing Rules & Code of Corporate Governance Set Out Baseline Standards Such as Board Composition, Director Independence & Remuneration, New Amendments Include Independent Directors Limit of 9-Year Term on Listed Companies Boards & Full Disclosure of Remuneration Paid to CEOs & Directors

9th November 2023 | Hong Kong

Singapore central bank Monetary Authority of Singapore (MAS) Lawrence Wong (Chairman, Singapore Deputy Prime Minister, Minister for Finance) reply on raising corporate governance standards for listed companiesSGX (Singapore Exchange) listing rules & Code of Corporate Governance set out baseline standards such as board composition, director independence & remuneration, and new amendments include independent directors limit of 9-year term on listed companies boards and full disclosure of remuneration paid to CEOs & Directors.  Singapore MAS Chairman Lawrence Wong: “The Monetary Authority of Singapore (MAS) works closely with the industry to uplift listed companies’ corporate governance standards. Key stakeholders include Singapore Exchange (SGX) and the Corporate Governance Advisory Committee (CGAC), an industry-led body set up to advocate good corporate governance practices.  The SGX Listing Rules and the accompanying Code of Corporate Governance (CG Code) set out the baseline corporate governance standards that all listed companies should adhere to. These include requirements on board composition, director independence, and remuneration … … For instance, in January this year, SGX announced amendments to its Listing Rules to limit the tenure of independent directors serving on boards of listed companies to nine years, and to require listed companies to disclose the exact amount and breakdown of remuneration paid to the CEO and directors.”  More info below:

“ Singapore MAS Chairman Lawrence Wong on Raising Corporate Governance Standards for Listed Companies: SGX Listing Rules & Code of Corporate Governance Set Out Baseline Standards Such as Board Composition, Director Independence & Remuneration, New Amendments Include Independent Directors Limit of 9-Year Term on Listed Companies Boards & Full Disclosure of Remuneration Paid to CEOs & Directors “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
23rd July Hong Kong | 25th July Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 23rd July 2024 in Hong Kong, 25th July 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
16th Oct Hong Kong | 23rd Oct Singapore

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





 

Singapore MAS Chairman Lawrence Wong on Raising Corporate Governance Standards for Listed Companies

Deputy Prime Minister, Minister of Finance, Deputy Chairman of the MAS Board Lawrence Wong

6 November 2023

Name and Constituency of Member of Parliament

Mr Chua Kheng Wee Louis, MP, Sengkang GRC

Question:

To ask the Prime Minister (a) what are the plans under consideration to raise corporate governance standards for listed companies in Singapore; and (b) whether the Government is considering imposing regulatory requirements for companies to meet minimum governance standards such as attaining minimum Singapore Governance and Transparency Index scores.

Answer by Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Chairman of MAS:

1. The Monetary Authority of Singapore (MAS) works closely with the industry to uplift listed companies’ corporate governance standards. Key stakeholders include Singapore Exchange (SGX) and the Corporate Governance Advisory Committee (CGAC), an industry-led body set up to advocate good corporate governance practices.

2. The SGX Listing Rules and the accompanying Code of Corporate Governance (CG Code) set out the baseline corporate governance standards that all listed companies should adhere to. These include requirements on board composition, director independence, and remuneration.

3. These minimum requirements are reviewed regularly by MAS and SGX in consultation with CGAC to take into account latest developments and best practices. For instance, in January this year, SGX announced amendments to its Listing Rules to limit the tenure of independent directors serving on boards of listed companies to nine years, and to require listed companies to disclose the exact amount and breakdown of remuneration paid to the CEO and directors.

4. Mr Louis Chua mentioned the use of the Singapore Governance and Transparency Index (SGTI). In fact the key requirements that go into the SGTI scores are already reflected in the SGX Listing Rules and the CG Code.

5. While scorecards are useful for benchmarking practices across entities, they may not fully reflect the quality of disclosures or governance practices. Take for example, the issue of board diversity disclosures. This requires listed companies to describe how the combination of skills, talents, experience and diversity of its directors serves the needs and plans of the listed company. These are important qualitative assessments that need to be made in the context of the operating environment of the company. They are not easily reduced to a simple score.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    InvestorProfessionalFamily OfficeExecutive


    SubscriptionMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleSingapore MAS Chairman Lawrence Wong on Anti-Money Laundering Measures Causing Delay in Bank Account Opening for Companies: Due Diligence Process Should Not Result in Delays if Banks Receive Sufficient Information to Properly Understand Applicant & Assess Risks
    Next articleWTW Launches Asia Pacific Climate Risk Centre (ACRC) in Singapore to Providing Expertise on Risk Management & Risk Financing to Support Transition to Low Carbon Economy in Asia, ACRC with Target of 15 Climate Specialists to Support Corporates, Financial Institutions, Insurers & Governments
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia