SIAS ICA Corporate Governance Ratings 2015
INTRODUCTION
 

SIAS conducts research on listed companies on their corporate governance practices. The ratings are used as part of the selection process for the SIAS Investor Choice Awards. Companies corporate governance practices are scored based on the OECD Principles of Corporate Governance and the Singapore Code of Corporate Governance. The scorecard can be found http://sias.org.sg/cgweek2015/pdf/SCGA_Scorecard_CGI_questions.pdf

To help investors better understand how companies have scored, SIAS is publishing the corporate governance scores of all companies in 5 bands. The 2015 SIAS Corporate Governance Ratings was conducted in collaboration with SMU-SKBI.

The bands are as follows:

Band 1 – Top 20%
Band 2 – 21 – 40%
Band 3- 41 – 60%
Band 4 – 61 – 80%
Band 5 - bottom 20%

 
AA Group Holdings Ltd
Achieva Limited
Advanced Holdings Ltd
AEM Holdings Ltd
Alliance Mineral Assets Limited
Ascendas India Trust
Ascendas Real Estate Inv Trust
Asiaphos Ltd
Auric Pacific Group Limited
AusGroup Limited
AVIC International Maritime Holdings Limited
Avi-Tech Electronics Limited
Aztech Group Ltd
Baker Technology Ltd
Ban Leong Technologies Limited
Banyan Tree Holdings Limited
BBR Holdings (S) Limited
BH Global Corporation
Biosensors International Group, Ltd
BreadTalk Group Limited
Bumitama Agri Ltd
CapitaLand Commercial Trust
CapitaLand Limited
CapitaLand Mall Trust Management Limited
CapitaLand Retail China Trust Management Ltd
Casa Holdings Ltd
Centurion Corporation Limited
Chew's Group Limited
China Aviation Oil (Singapore) Corporation Ltd
China Enviroment Ltd
China Fishery Group Limited
China Sunsine Chemical Holdings Ltd
Chosen Holdings Limited
City Developments Limited
CitySpring Infrastructure Trust
Civmec Limited
CNMC Goldmine Holdings Limited
ComfortDelGro Corporation Limited
Cordlife Group
Cosco Corporation (S) Limited
CosmoSteel Holdings Limited
Courts Asia Ltd
CSC Holdings Limited
CSE Global Ltd
Datapulse Technology Limited
DBS Group Holdings Limited
DeClout Limited
Delong Holdings Limited
Design Studio Group Ltd
Dynamic Colours Limited
ES Group (Holdings) Limited
Eu Yan Sang International Ltd
First Resources Limited
Fraser and Neave, Limited
Frasers Centrepoint Limited
Gaylin Holdings Limited
Global Logistic Properties Ltd
Great Eastern Hldgs Ltd
GuocoLand Limited
HanKore Environment Tech Group Limited
Haw Par Corporation Limited
Healthway Medical Corporation Limited
Hong Leong Asia Ltd
Hotel Royal Limited
HupSteel Limited
IHH Healthcare Berhad
Indofood Agri Resources Ltd
InnoTek Limited
ISEC Healthcare LTD
JB Foods Ltd
Jubilee Industries Holdings Ltd
Keppel Corporation Limited
Keppel REIT
Keppel Telecommunications & Transportation Ltd
Koyo International Limited
KrisEnergy Ltd
LCD Global Investment Ltd
Lorenzo International Limited
Lum Chang Holdings Limited
M1 Limited
Malaysia Smelting Corporation Berhad
Manhattan Resources Limited
Mencast Holdings Ltd.
Mercator Lines (Singapore) Limited
Micro-Mechanics (Holdings) Ltd
Midas Holdings Limited
Mun Siong Engineering Limited
Nam Cheong Limited
Neptune Orient Lines Limited
NeraTelecommunications Ltd
Nobel Design Holdings Ltd
Nordic Group Limited
OKP Holdings Limited
Olam International Limited
Otto Marine Limited
Oversea-Chinese Banking Corporation Limited
PACC Offshore Services Holdings Ltd
Pan-United Corporation Ltd
Petra Foods Limited
Polaris Ltd
Q & M Dental Group (Singapore) Limited
Qian Hu Corporation Limited
QT Vascular Ltd
Raffles Medical Group Limited
Rex International Holding Limited
Sabana Shari'ah Compliant REIT
Samudera Shipping Line Limited
Sapphire Corporation Limited
SATS Ltd
SBS Transit Ltd
Sembcorp Industries Ltd
SembCorp Marine Ltd
SIA Engineering Company Limited
Singapore Airlines Limited
Singapore Edevelopment Ltd
Singapore Exchange Limited
Singapore Post Limited
Singapore Press Holdings Limited
Singapore Technologies Engineering Ltd
Singtel
Sinjia Land Limited
SMRT Corporation Ltd
Soilbuild Construction Grp Ltd
SP Corporation Limited
StarHub Ltd
Swiber Holdings Limited
Tai Sin Electric Limited
Tat Hong Holdings Ltd
TEE International Limited
TEE Land Ltd
TeleChoice International Limited
Thakral Corporation Ltd
Tiger Airways Holdings Limited
Tritech Group Limited
Tuan Sing Holdings Limited
United Engineers Limited
United Overseas Bank Limited
UOL Group Limited
Vallianz Holdings Limited
Versalink Holdings Limited
Vicom Limited
Ying Li International Real Estate Limited
Yoma Strategic Holdings Ltd
ZICO Holdings Inc

Asian Pay Television Trust
Action Asia Limited
AEI Corporation Ltd
AIMS AMP Captial Industrial REIT
AP Oil International Limited
ARA Asset Management Ltd
Armarda Group Limited
Ascott Residence Trust Management Limited
Asia Enterprises Holding Limited
Asiamedic Limited
Aspial Corporation Limited
Asti Holdings Limited
Atlantic Navigation Holdings (Singapore) Limited
Best World International Ltd
Boardroom Limited
BRC Asia Limited
Broadway Industrial Group Limited
Bukit Sembawang Estates Limited
Cambridge Industrial Trust
Challenger Technologies Limited
Chasen Holdings Limited
Cheung Woh Technologies Ltd
China Minzhong Food Corporation Limited
China New Town Development Company Ltd
China Taisan Technology Group Holdings Pte Ltd
Chinese Global Investors Group Limited
Chip Eng Seng Corporation Ltd
Chuan Hup Holdings Ltd
Cityneon Holdings Limited
Cogent Holdings Limited
Colex Holdings Limited
Combine Will International Holdings Limited
CWT Limited
Duty Free International Limited
Dyna-Mac Holdings Limited
E2-Capital Holdings Limited
ecoWise Holdings Limited
Ellipsiz Ltd
Equation Corp Limited
Europtronic Group Ltd
Ezra Holdings Limited
F J Benjamin Holdings Ltd
Fabchem China Ltd
Fischer Tech Ltd
Frasers Commercial Trust
Frencken Group
Fu Yu Corporation Limited
Gallant Venture Ltd
Genting Singapore PLC
Geo Energy Resources Limited
Global Palm Resources Holdings Limited
Global Yellow Pages Limited
Grand Banks Yachts Limited
Halcyon Agri Corporation Limited
Hanwell Holdings Limited
HG Metal Manufacturing Ltd
HLH Group Limited
Hock Lian Seng Holdings Limited
Hong Leong Finance Limited
HTL International Holdings Limited
Hutchison Port Holdings Trust
iFAST Corporation Ltd
Interra Resources Limited
International Healthway Corporation Ltd
Intraco Limited
Isoteam Ltd
Jason Holdings Ltd
Jiutian Chemical Group Limited
Kim Heng Offshore & Marine Holdings Ltd
Kingsmen Creatives Ltd
KOP Ltd
Lantrovision (S) Ltd
LH Group
Linc Energy Ltd
Logistics Holdings Limited
Loyz Energy Limited
Manufacturing Integration Technology Ltd
Mapletree Commercial Trust
Mapletree Greater China Commercial Trust
Mapletree Logistics Trust
Mary Chia Holdings Limited
Metro Holdings Limited
Mewah International Inc
MFS Technology Ltd
Miyoshi Precision Limited
mm2 Asia Ltd
MoneyMax Financial Services Ltd
Moya Holdings Asia Ltd
Multi-Chem Limited
Neo Group Limited
Noble Group Limited
Novo Group Limited
NSL Ltd
Ntegrator International Ltd
Pacific Andes Resources Development Ltd
Pacific Century Regional Developments Ltd
Parkson Retail Asia Limited
PEC Ltd
Penguin International Limited
Pollux Properties Ltd
Progen Holdings Limited
Prudential PLC
Pteris Global Limited
Religare Health Trust
Rickmers Maritime
Ryobi Kiso Holdings Ltd
Sakae Holdings Ltd
Samko Timber Limited
SBI Offshore Limited
Serial System Limited
Serrano Limited
Sin Ghee Huat Corporation Ltd
Sin Heng Heavy Machinery Limited
Sing Investments & Finance Limited
Singapore Kitchen Equipment Limited
Singapura Finance Ltd
Soup Restaurant Group Limited
Spackman Entertainment GRP Ltd
SPH REIT
Stamford Tyres Corporation Limited
Starburst Holdings Limited
STATS ChipPAC Ltd
Sunningdale Tech Ltd
Swee Hong Limited
Swissco Holdings
Ta Corporation Ltd
TalkMed Group Ltd
Technics Oil & Gas Limited
Teckwah Industrial Corporation Ltd
Tiong Seng Holdings Ltd
Triyards Holdings Limited
UMS Holdings Limited
Universal Resource and Services Limited
ValueMax Group Ltd
Valuetronics Holdings Limited
Vard Holdings Limited
Venture Corporation Limited
Vicplas International Limited
Viking Offshore and Marine Limited
Willas-Array Electronics (Holdings) Limited
XMH Holdings Ltd
Xpress Holdings Ltd
Yangzijiang Shipbuilding (Holdings) Ltd
Yeo Hiap Seng Limited
Yongnam Holdings Limited

 
3Cnergy Limited
800 Super Holdings Ltd
Accordia Golf Trust
Advanced Integrated Manufacturing Corp. Ltd
Allied Technologies Limited
Alpha Energy Holdings Limited
Amara Holdings Limited
Amtek Engineering Ltd
AnnAik Limited
Ascendas Hospitality Trust
Asiatic Group (Holdings) Limited
Asiatravel.com Holdings Ltd
Blue Sky Power Holdings Ltd
Boustead Singapore Limited
Cache Logistics Trust
Captii Limited
CDW Holding Limited
CH Offshore Ltd
Chaswood Resources Holdings Ltd.
China Essence Group Ltd
China Fibretech Ltd
China Gaoxian Fibre Fabric Holdings Ltd
China Haida Ltd.
China Jishan Holdings Limited
China Sports International Limited
China Yuanbang Property Holdings Ltd
Communication Design International Ltd
Compact Metal Industries Limited
Cortina Holdings Limted
Courage Marine Group Limited
Croesus Retail Trust
Darco Water Technologies Limited
Elec & Eltek International Company Ltd
EMAS Offshore Limited
EMS Energy Limited
EnGro Corporation Limited
Envictus International Holdings Limited
Epicentre Holdings Limited
Eucon Holding Limited
EuroSports Global Limited
Far East Group Limited
Far East Orchard Limited
Federal International (2000) Ltd
Frasers Centrepoint Trust
GDS Global Limited
GKE Corporation Limited
Global Invacom Group Limited
Global Testing Corporation Limited
GMG Global Ltd
Golden Agri-Resources Ltd
Goodland Group Ltd
Green Build Technology Ltd
GSH Corporation Limited
Hafary Holdings Ltd
Hai Leck Holdings Limited
Hengxin Technology Ltd
HL Global Enterprises Limited
Hotel Properties Limited
Hu An Cable Holdings Ltd
Hyflux Ltd
IEV Holdings Limited
IFS Capital Limited
Informatics Education Ltd
Innovalues Limited
ISDN Holdings Limited
Isetan (Singapore) Limited
Jacks International Limited
Japan Foods Holding Ltd
Jasper Investments Limited
Kencana Agri Limited
Keong Hong Holdings Limited
Kitchen Culture Holdings Ltd
Koda Ltd
Koh Brothers Group Limited
Koon Holdings Limited
Kori Holdings Ltd
KS Energy Services Limited
KTL Global Limited
LHT Holdings Limited
Libra Group Limited
Lizhong Wheel Group Ltd
Mann Seng Metal International Limited
Mapletree Industrial Trust
Marco Polo Marine Ltd
Matex International Limited
Maxi-Cash Fin Svcs Corp Ltd
MDR Limited
Megachem Limited
Memstar Technology Ltd
Mercurius Cap Investment Ltd
MTQ Corporation Limited
Natural Cool Holdings Limited
Nico Steel Holdings Limited
Old Chang Kee Ltd
OUE Commercial REIT
OUE Limited
Ouhua Energy Holdings Limited
Pacific Healthcare Holdings Ltd
Pacific Radiance Ltd
Pan Asian Holdings Limited
Parkway Life Real Estate Investment Trust
Pharmesis International Ltd
Plastoform Holdings Ltd
PS Group Holdings Ltd
QAF Limited
R H Enery Ltd
Raffles United Holdings Ltd
Resources Prima Group Limited
RH Petrogas
Rowsley Ltd
Roxy-Pacific Holdings Limited
Si2i Limited
Sarine Technologies Ltd
Second Chance Properties Limited
Sheng Siong Group Ltd
SHS Holdings Ltd
Silverlake Axis Ltd
Sincap Group Limited
Singapore Medical Group Limited
Singhaiyi group ltd
Sino Grandness Food Industry Group Limited
Sinostar Pec Holdings Limited
Sinwa Limited
Smartflex Holdings Ltd
Sri Trang Agro-Industry Public Company Limited
St. James Holdings Limited
STAR Pharmaceutical Limited
Sysma Holdings Limited
Terratech Group Limited
Thai Beverage Public Company Limited
TMC Education Corp Ltd
Transit-Mixed Concrete Limited
TSH Corporation Limited
TTJ HOLDINGS LIMITED
Union Steel Holdings Limited
United Envirotech Ltd
United Industrial Corporation Limited
UPP Holdings Limited
Viva Industrial Trust
WE Holdings Ltd
Wilton Resources Corporation Limited
Wing Tai Holdings Limited
World Precision Machinery Limited
Xyec Holdings Co., Ltd
Yanlord Land Group Limited

ABR Holdings Limited
Abterra Ltd
Addvalue Technologies Ltd
Advanced Systems Automation Limited
Adventus Holdings Limited
Albedo Limited
Amplefield Limited
Anchun International Holdings Ltd
Artivision Technologies Ltd
Asian Micro Holdings Limited
Asia-Pacific Strategic Investments Ltd
A-Sonic Aerospace Limited
Azeus Systems Holdings Ltd
Beng Kuang Marine Limited
Blumont Group Ltd
Bonvests Holdings Limited
Brooke Asia
C&G Environmental Protection Aktie
CDL Hospitality Trusts
CEFC International Ltd
CEI Contract Manufacturing Limited
CFM Holdings Limited
China Bearing (Singapore) Ltd
China Kangda Food Company Limited
China Kunda Technology Holdings Ltd
China Yongsheng Limited
CPH Ltd
Craft Print International Limited
Dragon Group International Limited
Dutech Holdings Limited
Eastgate Technology Limited
Enviro-Hub Holdings Ltd
Excelpoint Technology Ltd
Ezion Holdings Limited
Falcon Energy Group Limited
Far East Hospitality Trust
Figtree Holdings Limited
First Ship Lease Trust
First Sponsor Group Ltd
Food Empire Holdings Limited
Fortune Real Estate Investment Trust
Genting Hongkong Ltd
Global Investments Limited
Global Premium Hotels Limited
Golden Energy and Resources Ltd
GP Batteries International Limited
GP Industries Limited
GRP Limited
Health Management International Ltd
Heatec JieTong Holdings Ltd
Hengyang Petrochemical Logistics Ltd
Hiap Hoe Limited
Hiap Tong Corporation Ltd
Hi-P International Limited
Ho Bee Land Limited
Hong Fok Corporation Ltd
Huan Hsin Holdings Limited
Huationg Global Limited
Hwa Hong Corporation Limited
International Press Softcom Limited
IPC Corporation Limited
IREIT Global
Jackspeed Corporation Limited
Jadason Enterprises Ltd
Jardine Cycle & Carriage Ltd
Jason Marine Group Limited
JEP Holdings Ltd
k1 Ventures Limited
Karin Technology Holdings Limited
King Wan Corporation Limited
KLW Holdings Limited
Koh Brother Eco Engineering Limited
KSH Holdings Limited
Lasseters International Holdings Ltd
Lereno Bio-Chem Ltd
Ley Choon Group Holdings Limited
Li Heng Chemical Fibre Technologies Limited
Lian Beng Group Limited
Linair Technologies Limited
Lippo Malls Indonesia Retail Trust
Low Keng Huat (Singapore) Limited
Luzhou Bio-Chem Technology Limited
Magnus Energy Group Ltd
Medtecs International Corporation Limited
Memtech International Ltd
Mermaid Maritime Public Company Limited
Metal Component Engineering Limited
Nam Lee Pressed Metal Industries Limited
Net Pacific Financial Aktie
Nippecraft Limited
OEL (Holdings) Limited
OKH Global Ltd
Oriental Group Ltd
OUE Hospitality Trust
Overseas Education Limited
P99 Holdings Limited
PCI Limited
PNE Micron Holdings Ltd
Powermatic Data Systems Limited
PSL Holdings Limited
Regal International Group Ltd
Renewable Energy Asia Ltd
Riverstone Holdings Limited
Rotary Engineering Limited
Saizen REIT
Santak Holdings Limited
Select Group Limited
SHC Capital Asia Limited
SIIC Environment Holdings Ltd
Sim Lian Group Limited
Sinarmas Land Limited
Sino Construction Limited
Sinopipe Holdings Limited
SMJ International Holdings Ltd
Southern Packaging Group Limited
Spindex Industries Limited
Stamford Land Corporation Ltd
Stratech Systems Limited
Sunlight Group Hldg Ltd
Sunmoon Food Company Limited
Suntar Eco-City Limited
SunVic Chemical Holdings Limited
Super Group Ltd
Tat Seng Packaging Group Ltd
TEHO International Inc Ltd
TIH Limited
Tiong Woon Corporation Holding Limited
TPV Technology Limited
Travelite Holdings Ltd
Trek 2000 International Ltd
Tye Soon Limited
Uni-Asia Holdings Ltd
United Food Holdings Limited
United Overseas Insurance Limited
USP Group Limited
Vashion Group Ltd
Vibrant Group
Weiye Holdings Ltd
Wilmar International Limited
XinRen Aluminum Holdings Limited
Yamada Green Resources Limited
YHI International Limited
Yongmao Holdings Limited
Zhongmin Baihui Retail Group Ltd
Zhongxin Fruit and Juice Ltd

 
8Telecom International Holdings Co Ltd
Ace Achieve Infocom Limited
ACMA Limited
Advance Sct Limited
Annica Holdings Limited
Asia Fashion Ltd
Asiasons Capital Limited
ASL Marine Holdings Ltd
AVJennings Limited
BlackGold Natural Resources Limited
British And Malayan Trustees Limited
Bund Center Investment, Ltd
Cacola Furniture International Limited
Changjiang Fertilizer Holdings Ltd
Changtian Plastic & Chemical Limited
Charisma Energy Services Limited
Chemical Industries (Far East) Limited
China Auto Electronics Group Limited
China Dairy Group Ltd
China Flexible Packaging Holdings Limited
China Great Land Holdings Ltd
China Hongcheng Holdings Limited
China International Holdings Ltd
China Merchants Holdings (Pacific) Ltd
China Mining International Limited
Chinasing Investment Holdings Limited
Creative Technology Limited
Dairy Farm International
Dapai International Aktie
Debao Property Development Ltd
Digiland International Limited
Dukang Distillers Aktie
Eastern Holdings Ltd
Edition Limited
Elektromotive Group Limited
First Real Estate Investment Trust
Fragrance Group Limited
Fuji Offset Plates Manufacturing Limited
Full Apex (Holdings) Limited
Fung Choi Media Group Limited
Fuxing China Group Limited
G.K. Goh Holdings Limited
GCCP Resources Limited
Giken Sakata (Singapore) Limited
Global Tech Holdings Ltd
Great Group Holdings Limited
GuocoLeisure Limited
Heeton Holdings Ltd
Hiap Seng Engineering Limited
Hoe Leong Corporation Ltd
Hongkong Land Holdings Limited
Hor Kew Corporation Ltd
Hosen Group Ltd
Hotel Grand Central Ltd
Hotung Investment Holdings Limited
ICP Limited
Indiabulls Properties Investment Trust
Infino Group Ltd
Innopac Holdings Limited
Ipco International Limited
ISR Capital Ltd
ITE Electric Company Limited
Jardine Matheson Holdings Limited
Jardine Strategic Holdings Limited
Jaya Holdings Limited
Joyas International Holdings Limited
Khong Guan Flour Milling Limited
Kingboard Copper Foil Holdings Limited
Lafe Corporation Limited
Leader Environmental Technologies Ltd
Lee Metal Group Ltd
LifeBrandz Ltd
Lindeteves-Jacoberg Limited
Lion Asiapac Limited
LIONGOLD CORP LTD
Longcheer Holdings Limited
LONZA GROUP LTD
LottVision Limited
LTC Corporation Ltd
Lung Kee (Bermuda) Holdings Limited
Luxking Group Holdings Limited
M Development Ltd
Macquarie International Infrastructure Fund Ltd
Mandarin Oriental International Ltd
Meghmani Organics Limited
Metech International Limited
Mirach Energy Limited
MYP Limited
New Toyo International Holdings Limited
New Wave Holdings Ltd
Noel Gifts International Limited
Ocean Sky International Ltd
OLS Enterprise Ltd
Osim International Ltd
Ossia International Limited
Oxley Holdings Ltd
Pan Hong Property Group Limited
Pavillon Holdings Ltd
Plato Capital Ltd
PNE Industries Ltd
Poh Tiong Choon Logistics Limited
Qingmei Group Holdings Ltd
Raffles Education Corporation Limited
Ramba Energy Limited
San Teh Limited
Seroja Investments Limited
Shanghai Turbo Enterprises Ltd
Shangri-La Asia Ltd
Sing Holdings Limited
Singapore Reinsurance Corporation Limited
Singapore Shipping Corporation Limited
Singapore Windsor Holdings Limited
Sinotel Technologies Ltd
Sitra Holdings (International) Limited
Soilbuild Business Space REIT
Soon Lian Holdings Limited
SP AusNet
Starland Holdings Ltd
Straco Corporation Limited
Sunmart Holdings Limited
Sunpower Group Ltd
Sunright Limited
Suntec Real Estate Inv Trust
Swing Media Technology Group Ltd
Tan Chong International LTD
Techcomp (Holdings) Limited
The Hour Glass Limited
The Straits Trading Company Limited
Tianjin Zhong Xin Pharmaceutical Group Corporation Limited
Top Global Limited
Transcorp Holding Limited
Transcu Group Limited
TT International Limited
Tung Lok Restaurants (2000) Ltd
UOB-Kay Hian Holdings Limited
VGO Corporation Limited
VibroPower Corporation Limited
Wee Hur Holdings Ltd
Wheelock Properties (S) Ltd
Yong Xin International Holdings Ltd
Yuexiu property company ltd
Yuuzoo Corporation Limited
Zagro Asia Limited
Ziwo Holdings Ltd