The Straits Times-Jan 13, 2023

Issues relating to the tenure of independent directors (IDs) on corporate boards, as well as remuneration paid to directors and top management of companies, have long been contentious. In response to broad market support for key changes in these areas and subsequent recommendations from the Corporate Governance Advisory Committee, the Monetary Authority of Singapore (MAS) on Jan 11 amended Singapore’s corporate governance code. Under new listing rules, SGX RegCo, the Singapore Exchange’s regulatory arm, will introduce a nine-year tenure limit for IDs and require mandatory remuneration disclosure for each individual director and chief executive officer. These are positive steps. Read more at: https://www.straitstimes.com/opinion/st-editorial/positive-steps-for-corporate-governance  First published in The Straits Times