Question

what are latest developments in corporate governance in singapore during 2015-2019

Answer 1

Latest development in corporate governance in Singapore during 2015 to 2019 as follows-

A.Companies have been required to disclose the criteria which are used for selecting a pointing and reappointing directors and this criteria will be including disclosure of director relationship and time commitment.

B. Limit to qualify as a substantial shareholder will now be 5% of issued share capital instead of 10% which was earlier.

C. Companies may choose to establish a separate board level risk committee

D. Shareholder would gain the ability to abstrain from voting provided a company constitution or other document allow for such voting option

E.improved disclosure onboard and shareholder communication as a part of policy to promote communication with the shareholder is also implemented.

F. Annual report will be including the disclosure of remuneration for each director and chief executive officer and it is aligned with top 5 level management professionals in no larger than $2,50,000

G. The board must be majorly independent whereas board chair is not independent and code establish that regardless of board chair, non executive director will be needed to be majority of the directors.