CGIO 13 August 2018

CGIO unveils 2018 results of the Singapore Governance and Transparency Index

SingTel and CapitaLand Mall Trust have been ranked as the most well-governed and transparent listed companies in Singapore, according to the Centre for Governance, Institutions and Organisations’ (CGIO) Singapore Governance and Transparency Index (SGTI).

Associate Professor Lawrence Loh of CGIO presenting the SGTI findings

Launched on 6 August, the tenth edition of the ranking featured 589 companies and 43 REITs and Business Trusts on the Index based on their released their annual reports. SingTel topped the annual SGTI ranking in the General Category for the fourth consecutive year, while CapitaLand Mall Trust leads the REIT and Business Trust Category for the second year.

CPA Australia, CGIO and Singapore Institute of Directors, with The Business Times as the strategic media partner, jointly publish SGTI annually.

“Listed companies now operate in a disruptive and complex business environment and are increasingly under pressure to be more transparent and accountable to their stakeholders,” said Mr Yeoh Oon Jin, Singapore Divisional President at CPA Australia.

“With good corporate governance, companies demonstrate their commitment to transparency, thus ensuring the long-term success of the company,” said Associate Professor Lawrence Loh, Director, CGIO, NUS Business School.

Associate Professor Loh said the top performing companies tend to do well in areas such as having an independent chairman on their boards and having more independent directors.

“Having strong board independence ensures the company can be well-managed from the perspective of two parties – shareholders and stakeholders,” he said. This, he added, also improves stakeholder engagement.

The assessment findings and ranking results were announced at a forum graced by guest of honour, Mr Ong Chong Tee, Deputy Managing Director (Financial Supervision), the Monetary Authority of Singapore.

There was also a panel discussion on the role of corporate governance in dynamic and volatile operating environment, moderated by Mr Melvin Yong, Country Head – Singapore, CPA Australia.

The panellists. From left: Melvin Yong of CPA Australia; Melvin Teo of Yeo Hiap Seng; Rachel Eng of WongPartnership; Alex Hungate of SATS; and Robert Chew of iGlobe Partners.