On 13 September 2022, findings from an independent review of listed companies’ disclosures undertaken by KPMG in Singapore (“KPMG”) for the Singapore Exchange were released. KPMG’s report evaluated disclosures in annual reports and companies’ websites based on the Code of Corporate Governance 2018.
On that day, Singapore Exchange Regulation (“SGX RegCo”) released a statement that referred to board renewal and remuneration matters being areas where improvement is still needed. The Corporate Governance Advisory Committee (“CGAC”) also released a statement on the KPMG review.
The KPMG report can be found here.
The SGX RegCo statement can be found here.
The CGAC statement can be found here.
While the SGX RegCo and CGAC statements noted other findings in the comprehensive KPMG report, of particular interest are their observations on board renewal and remuneration disclosures, which indicate that there may be rule changes following public consultation.
If you would like information or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:
Kevin HO
Co-Head – Corporate Governance & Compliance
d +65 6416 2555
e kevin.ho@wongpartnership.com
Click here to see Kevin’s CV.
Annabelle YIP
Senior Consultant
Principal Member – Corporate Governance & Compliance
d +65 6416 8249
e annabelle.yip@wongpartnership.com
Click here to see Annabelle’s CV.
Vivien YUI
Partner – Corporate Governance & Compliance
d +65 6416 8009
e vivien.yui@wongpartnership.com
Click here to see Vivien’s CV.
Jayne LEE
Partner – Corporate Governance & Compliance
d +65 6416 8256
e jayne.lee@wongpartnership.com
Click here to see Jayne’s CV.