Developed in a question-and-answer format, the guide makes clearer to companies specific principles and guidelines identified as express disclosure requirements in the Code of Corporate Governance 2012.
Under SGX’s comply-or-explain approach to the Code, listed companies are expected to comply with the Code or explain in their annual reports any deviation from the Code. Listed companies are encouraged to enclose the new disclosure guide as part of their annual reports.
Investors can use these disclosure guides to review and compare companies’ governance practices, and better assess the companies they invest in. A sample of the disclosure guide is attached.
Recent surveys have indicated that while compliance with the Code among SGX-listed companies is generally good, disclosures relating to remuneration, risk governance, board diversity and sustainability were not comprehensive. Using the disclosure guide as a basis for comparison, investors and interested stakeholders can judge whether a company has provided adequate disclosures and meaningful explanations for any deviations from the Code.
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