Singtel tops corporate governance, wins board diversity award from NUS, SID
Singapore, 03 April 2018 – Singtel today won the Top Achiever award for corporate governance in Singapore and has been recognised for board diversity by the Centre for Governance, Institutions and Organisations (CGIO) at the NUS Business School and the Singapore Institute of Directors (SID).
Singtel received the highest corporate governance ranking among Singapore’s top 100 publicly-listed companies for the fourth year. CGIO and SID evaluated the companies using the ASEAN Corporate Governance Scorecard, a joint initiative between the ASEAN Capital Markets Forum and the Asian Development Bank to improve corporate governance standards in the region.
Singtel was also one of the recipients of the inaugural Board Diversity Award. With a focus on gender diversity, companies were assessed based on their stated policy on board diversity, goals to promote diversity, steps taken to achieve targets and progress made. Women represent one-third of Singtel’s board.
“We are honoured to be recognised for our strong and unwavering commitment to corporate governance and diversity,” said Mr Simon Israel, Singtel Group Chairman. “It is our belief that strong corporate governance is the foundation to the long term sustainability of the business and that greater diversity helps to promote a robust corporate culture.”
The ASEAN Corporate Governance Scorecard examines the corporate governance performance of the top publicly listed companies across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Companies are assessed and scored in key areas such as the rights of shareholders, equitable treatment of shareholders, role of stakeholders, responsibilities of the Board as well as compliance to disclosure rules and transparency.
“Singtel has performed consistently well for the Scorecard over the years,” said Associate Professor Lawrence Loh, Director of CGIO at the NUS Business School. “It has topped the Singapore rankings since 2013 and increased its score every year. The company has excelled particularly in the shareholder and stakeholder aspects of corporate governance. Notably, its Board has provided the leadership and impetus in driving exemplary governance across the entire organisation.”