Top listed companies and business leaders were lauded for their accomplishments in corporate governance at the 19th edition of the Singapore Corporate Awards (SCA).
In a ceremony held at The RitzCarlton, Millenia Singapore on Aug 27, 36 companies and six business leaders were honoured.
The awards recognise companies listed on the Singapore Exchange (SGX) and individuals in these companies who, through their corporate practices, have helped raise the Republic's corporate disclosure standards.
Deputy Prime Minister Heng Swee Keat, the guest of honour at the event, said in his speech that, beyond compliance, boards will have to "play a broader and more strategic role in the coming years", as changes across the global business landscape take place more swiftly and make more of an impact.
"The Asean Corporate Governance Scorecard, NUS' Singapore Governance and Transparency Index, and Council for Board Diversity Review have all shown improvements (in corporate governance).
Nonetheless, there is more that we can do to help our companies strengthen corporate governance, particularly for smaller companies with less resources," he said.
He suggested some ways to improve corporate governance and prepare companies to do better.
These include stepping up education for directors and boards, and evolving the corporate governance regime in Singapore to put it "in line with the expectations of the many stakeholders".
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