corporate governance

The end of shareholder primacy?

SINGAPORE (Sept 2): In August, the Business Roundtable, a group comprising the CEOs of the US’ largest and most powerful corporations, formally abandoned the view that maximising shareholder value should be a company’s primary objective. The implication is that shareholders will no longer always take precedence over other stakeholders such as customers, employees, suppliers and the communities in which firms operate.

Datapulse says hotel-related deals flagged by SGX were on 'normal commercial terms'

SINGAPORE (Aug 26): Datapulse Technology says its audit committee has agreed with the findings of an independent financial advisor that two hotel management agreements flagged by Singapore Exchange Regulation (SGX RegCo) are “on normal commercial terms”.

In response to a notice of compliance issued last month by SGX, Datapulse adds that the audit committee and independent financial advisor found the hotel-related deals are “not prejudicial to the interest of the company and its minority shareholders”.

REITs, business trusts continue to improve in corporate governance: GIFT report

SINGAPORE (Aug 1): Real estate investment trusts (REITs) and business trusts (BTs) on the whole have continued to show improvements in corporate governance, according to the Governance Index for Trusts (GIFT) 2019 report.

GIFT, which is an annual assessment used to gauge the governance and business risk of REITs and BTs, saw the average combined governance and business risk score rise to 68.0 points. This compares to 65.6 points in 2018 and 62.2 points in 2017.

Rags-to-riches tale goes sour for Hyflux founder Olivia Lum

(Apr 11): Olivia Lum is running out of time to save the company she spent a lifetime building.

The founder of Singapore-based water and power company Hyflux, which could see its court protection from creditors expire at the end of the month, has had a torrid two weeks. A white-knight takeover that might have kept the company together has collapsed, hundreds of angry creditors protested in public, and the government appears set to step in and take over part of the company’s biggest asset for nothing.

Why Mak Yuen Teen's latest study is causing such a stir among market watchers

SINGAPORE (Jan 18): On Tuesday, corporate governance advocate Mak Yuen Teen, an associate professor of accounting at the NUS Business School, released a study arguing that the reputation of the Catalist board has been hurt by recent transfers of underperforming companies from the Mainboard.

Corporate governance advocate urges SGX to relook rules allowing companies to transfer to Catalist

SINGAPORE (Jan 15): Corporate governance advocate Mak Yuen Teen and undergraduate Mark Lai have published a study urging the Singapore Exchange (SGX) to consider disallowing companies from transferring from the Mainboard to Catalist.

SGX in Jan 2016 had clarified and tightened the criteria for transfers from the Mainboard to Catalist, especially for loss-making companies. But Mak and Lai say the changes might not have been effective.

Dual-class shares more of a bane than boon to Singapore markets, finds survey

SINGAPORE (Dec 5): The introduction of dual-class shares (DCS) has damaged Singapore's regulatory creditability and contradicts investor stewardship, suggests findings from a report by the Asian Corporate Governance Association (ACGA) and CLSA Limited. 

According to the ninth edition of CG Watch, a regional report jointly conducted by ACGA and CLSA on corporate governance (CG) in Asia-Pacific published every two years, Singapore is found to be a “contradictory city” for its mixed survey findings.

Datapulse to sell back haircare business Wayco just a year after acquisition

SINGAPORE (Nov 16): Less than a year after its controversial purchase of haircare company Wayco, Datapulse Technology is looking to reverse the deal.

In that time, two entire boards have been changed, and three CEOs have come and gone, opening up debate on corporate governance standards in Singapore.

See: Questioning Singapore's corporate governance standards

Stamford Land and investor Mano Sabnani arrive at amicable settlement

SINGAPORE (Oct 6): Stamford Land Corp and Mano Sabnani (pictured), the shareholder it filed a lawsuit against less a month ago, have arrived at an amicable settlement of all differences between them, with both parties agreeing to “bring this unhappy episode to an end”.

Datapulse adopts new policies, announces director appointments upon completion of internal review

SINGAPORE (Sept 17): Datapulse Technology has completed its internal controls review with law firm Lee & Lee after it was ordered to do so by SGX-ST in April this year following concerns raised over possible conflict of interest with its then-reviewer, RHT Law Taylor Wessing.  

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