Author: Mak Yuen Teen

The lack of enforcement against directors has also created a group of independent directors in our market who are contributing to poor corporate governance in companies. One of the “solutions” to corporate governance problems in companies – independent directors – has become the problem themselves.

At the Change of Board EGM, shareholders can question both the current directors and the proposed directors. I have consistently written that shareholders should ask questions of directors who are proposed for appointment, in order to assess their suitability and not vote blindly for directors. Given the important role played by directors, no one should get a free pass to the board.

A more apt name for our disclosure-based regime may be YOYO or You’re On Your Own.

This is my response to the SGX consultation paper on quarterly reporting. I am proposing a risk-based approach to complement the current approach based on market capitalisation.

Lapses in disclosure and due diligence continue to undermine minority shareholders’ interests.