The Monetary Authority of Singapore (MAS) has tasked its Corporate Governance Advisory Committee (CGAC) with reviewing the Code of Corporate Governance, aiming to strengthen board effectiveness, improve disclosure practices, and enhance investor confidence in listed companies.
"The objective is to make our listed companies more transparent and attractive in the capital market without unduly over-burdening them with inconsequential reporting guidance or requirements," said CGAC Chair Bob Tan, who also serves as Chairman of Jurong Engineering Limited. The review will be guided by two sub-committees. One will focus on clarifying how companies can apply the Code in proportion to their size and sector. The other will consider new guidance on corporate culture, board effectiveness, and risk management in emerging areas, such as AI.
"Upholding high standards of corporate governance is key for maintaining investor confidence," said Ho Hern Shin, Deputy Managing Director for Financial Supervision at MAS. "[C]ompanies must continue to maintain strong governance practices and make meaningful disclosures that keep stakeholders appropriately informed."
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