News Releases

Singtel first to be inducted into SIAS Corporate Governance Hall of Fame

Singapore, 22 September 2006 - Singapore Telecommunications Limited (Singtel) is pleased to announce that it is the first company to be inducted into the Corporate Governance Hall of Fame at the 7th Investors' Choice Awards presented by the Securities Investors Association of Singapore (SIAS). 

Singtel received the 'Excellence Award' for being inducted into the Hall of Fame for achieving high Corporate Governance standards for three years in a row.
 
Singtel also received an 'Excellence Award' for Transparency and has been placed in the Hall of Fame for having won the Golden Circle Award in the past three years
(2003 - 2005).  
 
In addition, SIAS presented to Mr Lee Hsien Yang, Singtel Group CEO, a 'Friend of SIAS' memento in appreciation for his outstanding contribution to Singtel's shareholders.
 
Mr Lee said: "We are delighted that our efforts in maintaining our strong commitment to best practices in corporate governance have been recognised by SIAS.
 
"We believe that our actions give confidence to our shareholders, customers and partners that Singtel is a reliable and well-run company with clear accountabilities for all levels of staff.  We are glad that our set of well-defined corporate governance processes is able to enhance the corporate performance and accountability." 
 
Singtel's corporate governance effort
Singtel is committed to achieving high standards of corporate conduct.  It recognises the importance of having in place a set of well-defined corporate governance processes to enhance corporate performance and accountability.  The Board's Corporate Governance and Nominations Committee role was expanded to include the development and review of Singtel's corporate governance principles and practices, taking into account relevant local and international developments in the area of corporate governance.
 
The Group adopts a zero tolerance approach to fraud.  Singtel has put in place a whistle blowing policy and procedures which provide employees with well-defined and accessible channels within the Group, including a direct channel to Singtel Internal Audit, for reporting suspected fraud, corruption, dishonest practices etc.
 Singtel started quarterly reporting of its financial results in June 2000, three years before it became mandatory.  The company also has regular communications with investors and the media, providing access to senior management at briefings and news conferences.  For fair and timely disclosure to all investors, there is also effective use of various communication channels for dissemination of corporate news and developments, as well as financial and other relevant disclosures.
 
Background
 
2003
Singapore Telecommunications Limited (Singtel) won the Singapore Corporate Governance Award and the Most Transparent Company (Golden Circle) Award at the 4th Investors' Choice Awards presented by the Securities Investors Association of Singapore (SIAS).  Singtel was also named Most Transparent Company in the Transport/Storage/Communications category. This was the first year that a company had won three awards by SIAS in recognition of outstanding efforts in corporate governance and corporate transparency. 
 
2004
Singapore Telecommunications Limited (Singtel) won the Singapore Corporate Governance Award and the Most Transparent Company (Golden Circle) Award at the 5th Investors' Choice Awards presented by the Securities Investors Association of Singapore (SIAS).  Singtel was also named Most Transparent Company in the Transport/Storage/ Communications category and Big Caps category.
 
This was the second year that Singtel had won the Singapore Corporate Governance Award, introduced in the year before to recognise companies that best meet the letter and spirit of the Singapore Code of Corporate Governance from the investors' view point. 
 
Singtel also clinched the Golden Circle Award, the overall winner chosen from the winners of the Most Transparent Company Award in all industry categories, for the second year running.
 
2005
Singapore Telecommunications Limited (Singtel) won the Singapore Corporate Governance Award and the Most Transparent Company (Golden Circle) Award at the 6th Investors' Choice Awards presented by the Securities Investors Association of Singapore (SIAS). 
 
Singtel was also named Most Transparent Company in the Big Caps category for the second consecutive year.  For winning the Golden Circle Award three years in a row, Singtel was promoted to the Hall of Fame for transparency for the following three years.