Registration and Breakfast
Opening Address by Chief Guest of Honour for Launch of Global Corporate Governance Week 2019Mr. Ong Ye Kung, Minister for Education, Singapore
Launch of the 10th Singapore Corporate Governance Week
Address by OECD for Global Corporate Governance ConferenceMr. Carmine Di Noia, Deputy Chairman of Corporate Governance Committee, OECD & Commissioner, Commissione Nazionale per le Società e la Borsa (CONSOB), Italy
Technology & Governance – Can Blockchain and AI Technology be Leveraged for Corporate Governance?
Exchanges around the world are now exploring the use of blockchain technology, for example, as a method for trading corporate securities and tracking their ownership. Distributed Ledger Technology (DLT) platforms are also being piloted for inter-bank payments and have brought banks together in experimenting with DLT in a collaborative and multidisciplinary manner. Many see immense benefits from such industry partnership that creates a vibrant ecosystem. Can the use of blockchain and smart contracting technology lead to the decrease the monitoring costs of companies? Can this lead to "real-time" monitoring of companies by regulators? What will the role of regulators be in such a situation? How can it facilitate shareholder communication?
Presentation 1: Technology & Governance – Can Blockchain and AI Technology be Leveraged for Corporate Governance?Prof. Erik Vermeulen, Professor of Business & Financial Law, Tilburg University, Department of Business Law and Senior Legal Counsel, Signify, Netherlands
Panel Discussion 1: Technology & Governance – Can Blockchain and AI Technology be Leveraged for Corporate Governance?Moderator: Mr. Carmine Di Noia, Deputy Chairman of Corporate Governance Committee, OECD and Commissioner, Commissione Nazionale per le Società e la Borsa (CONSOB), Italy Panellists:
The Future of Public Equity – How is technology evolving capital formation and shareholder engagement?
Technological innovation, including blockchain, is making huge inroads, impacting global and Asian financial markets. With technology, companies today, especially in Asia, have a myriad of tools for fund-raising from crowd-funding, private equity, venture capital and initial public offering (IPO). Equity financing, nevertheless, presents a number of advantages and greater flexibility for companies focused on medium to long-term investment and growth. However, with lower interest rates and increasing certainty of the rates outlook, more quality corporations have also turned to the debt market for their fund-raising needs. Correspondingly, shareholder engagement increasing from board seats gained, capital deployed, and the number of campaigns mounted. Activism, by not only retail investors, but by private equity fund, established institutional investors and even sovereign wealth funds, it continues to grow in both its impact on the markets and its role in pushing corporate governance forward. Nevertheless, the AGM, which is traditionally plays an important theoretical role in (collective) shareholder monitoring, has remained unchanged for over a century. The classical AGM has three functions to shareholders: shareholders are informed (information function), they are offered a venue to discuss and ask questions (forum function), and they take decisions (decision-making function). The decision-making function of AGMs is often considered to be the core function of the AGM. Can the advancement of corporate governance, with a particular attention to the restructuring of the “old-fashioned” Annual General Meeting of Shareholders be evolved? How can companies ensure that they receive questions from all its shareholders, as many a times shareholder Q&As are restricted by time? How to ensure that smaller shareholders are not marginalized? Are listed companies embracing technology?
Presentation 2: The Future of Public Equity – How is technology evolving capital formation and shareholder engagement?Speaker: Mr. Greg Medcraft, Director, OECD Directorate for Financial and Enterprise Affairs, France
Presentation 3: The Future of Shareholder Engagement – How is technology evolving shareholder engagement?Speaker: Ms. Janet Wong, Stewardship & ESG Engagement, Hermes Investment Management, UK
Panel Discussion 2: The Future of Public Equity – How is technology evolving capital formation and shareholder engagement?Moderator: Dr. Roger Barker, Managing Director, Governomics Ltd, UK and Chairman, Global Corporate Governance Advisory Council Panellists:
Corporate Debt Restructuring and Investor Protection – How is Singapore Advancing to be Asia’s Hub for Restructuring?
Recently, the High Court of England and Wales recognised the reprieve granted by the Singapore High Court to H&C S Holdings from its creditors as the troubled iron ore trader works on its restructuring plan. This is the first time a court outside Singapore has recognised the enhanced section 211B of the Singapore Companies Act which deals with a court-sanctioned arrangement or scheme of arrangement between a distressed or an insolvent company and its creditors. The section was amended by Parliament in 2017 as part of a major overhaul of Singapore's corporate restructuring and insolvency laws, making it easier for companies, especially those with creditors from around the world, to be rescued and rehabilitated.
By incorporating elements of the US Chapter 11 Bankruptcy Code - which has extra-territorial reach through the personal jurisdiction of the US bankruptcy courts that can extend to acts outside of the US - with the traditional creditor scheme of arrangement, Singapore is seeking to create a new regime that incorporates the "best of both worlds" and to attract debtors and creditors in the region to come here for corporate restructuring. How successful has this been for companies seeking to restructure their debt? Why would companies choose to file their moratorium applications in Singapore over other jurisdictions? What are the success factors that would be necessary? How is the ecosystem working to promote restructuring in Singapore?
Presentation 4: Corporate Debt Restructuring & Investor Protection – How is Singapore Advancing to be Asia’s Hub for Restructuring?Mr. Sushil Nair, Deputy CEO & Co-Head, Corporate Restructuring & Workouts / Indonesia Group, Drew & Napier LLC, Singapore
Panel Discussion 3: Corporate Debt Restructuring & Investor Protection – How is Singapore Advancing to be Asia’s Hub for Restructuring?Moderator: Mr. Ashok Kumar, Director, BlackOak LLC, Singapore Panellists:
End of Conference
Arrival of Guests & Cocktail Reception
Guests to be seated
Arrival of Guest-of-Honour
Event Opening Performance
Welcome Address by SIAS
20th Anniversary Video and Cake Cutting Ceremony
SINGAPORE CORPORATE GOVERNANCE AWARD Presentation
SUSTAINABILITY AWARD Presentation
SHAREHOLDER COMMUNCATIONS EXCELLENCE AWARD Presentation
BEST RETAIL BROKER AWARD Presentation
Group Photo Taking with Guest-of-Honour - All Award Winners on stage
FINANCIAL JOURNALIST AWARD PRESENTATION
MOST TRANSPARENT COMPANY AWARD Presentation
The value of sustainability reporting is that it ensures organizations consider their impacts on sustainability issues, and enables them to be transparent about the risks and opportunities they face. In today’s world it’s not good enough to simply make claims about your level of sustainability. Now, organizations need to provide tangible, credible demonstrations of their level of sustainability, by following proper guidelines for sustainability reporting .
This way, organizations build trust among customers and all stakeholders, which in turn directly impacts the bottom lines. As per the business axiom – you can’t manage what you can’t measure; transparency is a currency that builds trust, which build businesses.
Retail investors as shareholders also have the responsibility to seek accountability from companies on their sustainability practices. Fundamentally, well employed sustainability reporting ensures that companies integrate sustainable practices into their operations and provides them leverage to better develop competitive advantages and value creation.
Opening Remarks by SIAS
Keynote Address by SGX
Presentation: Trends in sustainability (ESG) investing
Presentation: Sustainability and Green Bonds – A Corporate Case Study
Presentation: Analysing Sustainability Reports – Questions to Ask
Panel DiscussionModerator: Mr. Loh Uantchern, CEO, Black Sun Asia Pacific Panellists:
End of Forum
Registration and Breakfast
Opening AddressDr. Gerard Ee, Chairman, Charity Council
Address by Guest Of HonourMs. Grace Fu, Minister for Culture, Community and Youth
Topic 1: Building Trust – Through Governance and Effective Resource Management
Trust is of paramount importance to charities. The public’s trust is one of the major factors that underpin the donations of time and money by millions of people every year. But what is the best way to build that trust?
Whereas other organisations, particularly those selling a product, have tangible evidence to try to support and grow trust, confidence and most importantly loyalty for their brand, charities have only trust. If that trust is not maintained, the whole organisation and perhaps even the sector itself could suffer.
Having a good governance framework and practices is therefore vital to charities and the sector. While some charities see governance as a set of prescribed rules and checklist to follow, how can charities and board move away from the check box mentality to have governance practices as part of the organisation’s DNA?
With challenges like leadership renewal, succession planning, the need to continually seeking donations and volunteers to help run and manage the charity and with limited resources; how can charities rise to the challenge? How can technology help? What can charities do to build trust with their stakeholder?Speaker: Dr. Gerard Ee, Chairman, Charity Council
Panel Discussion 1: Building Trust – Through Governance and Effective Resource ManagementModerator: Mr. Robson Lee, Assistant Hononary Secretary, SIAS and Partner, Gibson, Dunn & Crutcher LLP Singapore Panellists:
Topic 2: Capability Building in Charities
What is capability building? Why is it important? Capability building is not just about the capacity of a charity today -- it's about the charity’s ability to deliver its mission effectively now, and in the future. Capacity building is an investment in the effectiveness and future sustainability of a charity.
While frequently invisible, and often overlooked, capability building is the all-important “infrastructure” that supports and shapes charitable organisations into forces for good. It enables charities and their leaders to develop competencies and skills that can make them more effective and sustainable, thus increasing the potential for charities to enrich lives and solve society’s most intractable problems.
How can capability building focus on improving the manpower and organisational competencies of charities? What structure and support is needed for charities and the sector? What competencies need to be developed can to better optimize and enhance productivity and improve in service delivery?Speaker: Dr. Fermin Diez, Deputy CEO & Group Director, Human Capital and Organisation Development Group, National Council of Social Service
Panel Discussion 2: Capability Building in CharitiesModerator: Mr. Dennis Lee, Partner, RSM Singapore Panellists:
Closing Remarks – Dr. Ang Hak Seng, Deputy Secretary, MCCY, Commissioner of Charities
End of Session
Networking Lunch and Registration
Workshop 1: Technology and Cyber Security
Technology is enabling more money to pour online into charities in Singapore. More tools are available today for charities to extend their reach to achieve their stated objectives. With greater ease and connectivity also comes with greater risk. How are charities preparing themselves for heightened cyber security risk? What are the most important security issues facing charities today? What should charities do to improve cybersecurity? How to do charities balance the online cyber threats while doing more using technology?Topic 1: Risks and Technology in the Charity Sector
Panel Discussion:Moderator: Mr. Neil Dyason, CEO, Make-A-Wish Foundation (Singapore) Panellists:
Workshop 2: Internal Auditor – Eyes and Ears for the Board
The internal audit activity helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. It is describes as the “eyes and ears” for the board. Yet many organisations fail to appreciate the role of the internal auditor. How can an internal auditor help improve charities?Speaker: Ms. Tan Boon Yen, Immediate Past President, IIA Singapore and Senior Director, RSM Singapore Business Consulting
End of Workshops
Forum: 09:00 AM - 10:30 AM
Understanding Retail Shareholders - How Can Companies Improve Liquidity, Create Stable, Long-Term Shareholders, Manage Shareholder Loyalty And Improve Stakeholder Engagement to Increase Value?
Workshop: 10:45 AM - 01.00 PM
Building Trust through Culture Reporting
Forum: 02:00 PM - 04:00 PM
Fund Raising and Corporate Governance - The Role of the Corporate Treasurer
Forum: Understanding retail shareholders - How can companies improve liquidity, create stable, long-term shareholders, manage shareholder loyalty and improve stakeholder engagement to increase value?
Most listed companies pay a lot of attention to their large institutional shareholders through close, detailed and regular contact that creates a deep understanding of the reasons for their shareholdings and the issues that drive them to stay. But little, if any, attention is paid to retail shareholders, as they are hard to communicate with en masse, making it difficult for companies to:
Know what their retail shareholders look like demographically, how they make their decisions, why they are invested, their satisfaction levels with the company, why they choose to stay/leave and where your key risk areas are (e.g. Leadership team, ESG policies, dividend policies, etc)
Track shareholder sentiment over time, and be better prepared to communicate the right messages to the right people before major events or corporate actions
Manage brand perception and reputational risk.
Retail sentiment ultimately impacts both the listed company itself, and ultimately their institutional shareholders too!
Presentation: Insights from Australia’s first large-scale in-depth study of Australian Retail ShareholdersMr. Michael Blomfield, CEO, Investment Trends, Australia
Panel discussion :Moderator: Mr. David Gerald, Founder, President & CEO, Securities Investors Association (Singapore)
End of session
Workshop: Building Trust through Culture Reporting
Corporate culture is, and has always been, difficult to define. It is the invisible hand that influences and guides companies, and is crucial to a company’s ability for long-term sustainable value creation. The corporate scandals in recent times have demonstrated that culture can be the Achilles heel of even the largest corporations. Culture is clearly a powerful driver that makes or breaks organisations, especially in a climate where stakeholders such as investors, employees and regulators are demanding more transparency around the way things are done. The mind-set shift is evident in the recent revisions to the UK Code of Governance, where companies are required to report on culture.
The challenge is in communicating corporate culture to a diverse group of stakeholders in a way that engages and builds trust. In this 2-hour workshop, participants will learn how to report on culture by identifying the indicators of a company’s culture across various communication channels such as the annual report and corporate website. Through a series of case studies and exercises, participants will be able to gain a better understanding of culture reporting and its role in a company’s sustainable growth. The findings from Black Sun’s recently published “Guide to Annual Reports in Singapore: The Importance of Culture Reporting” will also be shared at this hands-on workshop.
Working professionals involved in corporate communications, internal communications, human resources as well as investor relations will find this workshop beneficial.
Coffee Break and Registration
End of Workshop
Forum: Fund Raising and Corporate Governance - the Role of the Corporate Treasurer
Today there are many more ways of raising funds for your company. There are of course letters of credit, project financing, bank loans, and equity. Increasingly, more companies are also exploring debt financing like issuing corporate bonds, perpetual securities and preference shares. In addition, today there is growing private equity and crowd-funding options for companies to choose. How does Corporate Governance apply to the Treasury Function? Is the role of the Treasury function changing? If so, what are the implications for Corporate Governance?
Networking Lunch and Registration
Presentation: Risk Reporting and Corporate GovernanceMr. Sovann Giang, Senior Director, Business Consulting , RSM Singapore
Panel Discussion:Moderator: Mr. Melvin Yong, Country Head, Singapore, CPA Australia SIAS Committee Member Panellists:
End of Forum