Letters

Issues SingPost should tackle to improve corporate governance

Wednesday, December 30th, 2015

RECENT news media reports following the announcement of the special audit by Singapore Post (SingPost) have focused much attention on the so-called “administrative oversight” relating to the failure to disclose the interest of SingPost’s lead independent director, Mr Keith Tay, in its announcement of the acquisition of FS MacKenzie.

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More questions about corporate governance at SingPost

Thursday, December 24th, 2015

ON Dec 15, The Business Times published a commentary highlighting my corporate governance concerns at Singapore Post (SingPost). That commentary focused mainly on its board composition (including size; independence; skills and experience; tenure of directors; and board renewal), clarity between the board’s and management’s roles, turnover of senior management, and transition plans.

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Don’t let Catalist become a graveyard for dying companies

Thursday, December 3rd, 2015

WHEN stock exchanges introduce a second board, it is often targeted at attracting companies with nil or limited profit records but with growth potential.

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Noble accounting saga: It’s the message that counts, not the messenger

Monday, August 10th, 2015

Ms Christie Loh (“Iceberg does not deserve the legitimacy it is being given”, BT, July 23) displays an unhealthy trait of shooting the messenger. In criticising all and sundry for writing about the accounting and corporate governance issues in Noble Group, she did not offer any evidence to refute what has been said about Noble. One may question her motivation for her missive against Noble’s critics.

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SGX should identify overseas firms and risks of investing in them

Monday, August 10th, 2015

I REFER to the announcement by Noble Group on July 14 that it has appointed David Yeow, a lawyer who is resident in Singapore, as a new independent director. On June 20, I wrote to the Singapore Exchange (SGX) asking if Noble was granted a waiver from rule 221 of the Mainboard Rulebook.

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Confusing disclosures about substantial shareholder by China New Town

Saturday, June 20th, 2015

On June 9, China New Town Development disclosed that its substantial shareholder, Shi Jian, has been required by PRC Changzhou Procuratorate to remain under “custody in designated residence”.

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Stricter policies necessary to ensure confidence in markets’ integrity

Friday, June 12th, 2015

I refer to the report “Xpress and its former chairman broke listing rules in 2014: SGX” (BT, May 22).

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Under corporate governance code, external auditors required to address shareholders’ queries

Friday, May 8th, 2015

I REFER to the letter, “Can shareholders quiz external auditors directly?” (BT, April 28), from Denis Distant.

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Noble AGM: shareholders may not be so supportive next time

Friday, May 8th, 2015

I REFER to “Noble dodges accounting queries at AGM” and “Sound bites from Elman” (BT, April 18-19).

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Premature to draw busy-director conclusion

Tuesday, December 2nd, 2014

The letter below published in the Business Times on November 25 is my latest response to the reply from SID and ISCA (“Several factors shape the performance of directors,” Business Times, November 18) to my original letter (“Are busy directors cutting corners or really supermen in suits?,” Business Times, November 7). In my original letter, I had challenged the findings and conclusion that busy directors have better board meeting attendance and qualifications. In order to keep the letter to a manageable length, I did not point out another problem with the comparison between single-seat directors and those holding 6 or more directorships mentioned in their reply.

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