As many as 36 companies and six business leaders were recognised for their achievements in corporate governance at the 19th Singapore Corporate Awards. The awards celebrate companies and individuals listed on the Singapore Exchange (SGX) for their contributions to improving the nation’s corporate disclosure standards.
Deputy Prime Minister Heng Swee Keat, speaking at the Singapore Corporate Awards, highlighted the evolving demands on corporate boards amid rapid changes in the global business environment. He stated, “Beyond compliance, boards will have to play a broader and more strategic role in the coming years. ASEAN Corporate Governance Scorecard, NUS’ Singapore Governance and Transparency Index, and Council for Board Diversity Review. Nonetheless, there is more that we can do to help our companies strengthen corporate governance, particularly for smaller companies with less resources.”
He recommended ways to improve corporate governance in Singapore by increasing education for directors and evolving the governance framework to meet stakeholder expectations, focusing on supporting smaller companies with fewer resources.
This year also saw the introduction of the Distinction in Sustainability Reporting Award, which was awarded to City Developments and Netlink NBN Trust.