Singapore focuses on disclosure in review

The Monetary Authority of Singapore's corporate governance review will address two areas where more disclosure is needed, according to a member of the committee conducting it.

Singapore’s plan to review its corporate governance code reflects a growing focus on best practice on disclosure in Asia and may herald a wave of similar moves in the region, according to a member of the committee that will conduct the review.

It is also timely, noted David Smith, Asia head of corporate governance at Aberdeen Asset Management, as there are areas where investors want to see more transparency among listed companies  namely, around the comply-or-explain’ regime and the appointment of independent directors. Indeed, a KPMG survey in July highlighted a number of areas where improvements are needed.

“It’s been a while since they looked at...

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