A cornerstone of any organisation, corporate governance frameworks are increasingly being put under the spotlight amidst rising global concern over ESG and sustainability-related practices.
To reap investor confidence and unlock market value, more companies are shoring up their corporate governance efforts — by improving the presence and quality of their disclosures.
In our latest SGX Corporate Governance Code Disclosure Survey Report, we reviewed the annual reports of 585 listed companies — analysing their Code of Corporate Governance (CG Code) disclosures in 2021. We are pleased to share results of the report, along with critical insights from 474 directors surveyed by SGX RegCo and KPMG.
Some key highlights from the survey report:
- Independent directors in nearly half the companies have served beyond 9 years
- While most companies continue to report the remuneration of directors, CEOs and key management personnel, only 35% and 18% disclosed director and CEO figures in dollar value, respectively
- Disclosures on how remuneration is calculated were mostly high level, with little transparency on how companies tie remuneration to performance and value creation
While the findings illustrate a positive shift in the way companies ensure greater business accountability through renewed processes and policies, they also reflect room for improvement in CG disclosure practices.
To find out more, read our full report.