Author: Mak Yuen Teen

Their struggle to be perceived to be independent is likely to continue.

The examples I have cited on questionable practices are not mere outliers. It looks like the new Corporate Governance Advisory Committee will have its work cut out to truly raise corporate governance standards in Singapore.

I have repeatedly questioned the composition of the board and how independent directors were appointed and can only wonder and lament – why did it have to take for the company to be near-death before it realised that it had to change its ways?

Compliance with rules should not be based on “best endeavours”. Companies and boards must be held accountable for non-compliance with rules, especially in this case where there is repeated non-compliance.