The Investor Choice Awards (ICA) recognizes excellence in companies and individuals adopting good corporate governance practices. Corporate governance plays an important role in supporting investment, specifically for retail investors in Singapore. Investors plough their monies into companies trusting the Board and the Management and hoping for their desired returns. Therefore, SIAS together with its industry partners, annually rate the best performing listed companies in governance and transparency for the benefit of investors.
SIAS also recognizes the various stakeholders like brokers, financial journalists and internal auditors that help drive good governance and, thus, facilitate investing in Singapore.
Mr. Heng Swee Keat
Deputy Prime Minister and Minister for Finance
To encourage public listed companies to adopt high levels of corporate governance practices so that investors can feel safe investing with them.
Big Cap (market capitalization above $1 billion)
Mid Cap (market capitalization $300million to less than $1 billion)
Small Cap (market capitalization below $300 million)
Most Improved
Diversity
REITs and Business Trusts
SIAS, together with NUS School of Business, Centre for Governance, Institutions & Organisations (CGIO), and Refinitiv have come together to recognize companies that have good corporate governance practices and shareholder interests
Stage 1
All companies are evaluated and shortlisted using the scorecard* developed for SIAS by CGIO of NUS Business School which includes an emphasis on shareholders’ rights and updated coverage of stakeholder engagement from the G20/OECD Principles of Corporate Governance with the *STARS Framework.
Stage 2
Using Refinitiv Stock Reports+ scores, comprised of analyst ratings of earnings, fundamentals, relative valuations, risks, price momentum and insider trading, as a screener to the shortlisted companies.
Stage 3
The SCGA Selection Committee Members comprising of industry partners meet to decide the winners based on the quantitative and qualitative inputs.
Mr. David Gerald
Founder , President & CEO , SIAS
Prof. Gunter Dufey
Professor Emeritus of Corporate Strategy and International Business and Professor Emeritus of Finance , University of Michigan - Business School
Prof. Lawrence Loh
Director , Centre for Governance Institutions and Organisations, National University of Singapore
Mr. Daryl Neo
Founding Director , Handshakes
Mr. Evan Law
Chief Executive , Singapore Accountancy Commission, (SAC)
Mr. Francis Er
Executive Director , CFA Singapore
Mr. Gregory Vijayendran
President , The Law Society of Singapore
Mr. Kon Yin Tong
President , Institute of Singapore Chartered Accountants (ISCA)
Mr. Wong Wei Kong
Editor , The Business Times
Ms. Melinda Sam
CEO , Securities Association of Singapore, (SAS)
Ms. Carmen Wee
CEO , The Investment Management Association of Singapore (IMAS)
Ms. Tan Boon Yen
President , The Institute of Internal Auditors Singapore, (IIA Singapore)
Mr. Tay Woon Teck
Partner , RSM
Ms. Quek Lee Kiang
Business Editor , Lianhe Zaobao
Mr. Walter Fernandez
Editor-in-Chief, MediaCorp
To encourage public listed companies to be more transparent so as to help investors make informed decisions.
Communications
Consumer Discretionary
Consumer Staples
Energy
Financials
Healthcare
Industrials
Materials
Technology
Utilities
REITs & Business Trusts
Real Estate
Quality of Annual Report
Disclosure of Interested Party Transactions (IPT)
Directorships/Chairmanships in Listed Companies
Timeliness of Release of Results
Executive Director/Top 5 Executives' Remuneration
Non-Executive Director Fees
Corporate Website
The Most Transparent Company Award adopts industry categories from the Bloomberg Industry Classification Standard (BICS). Companies are first evaluated and shortlisted using the scorecard developed for SIAS by CGIO of NUS Business School. The selection process takes into consideration the “Disclosure and Transparency” aspect based on publicly available information and the company’s performance. SIAS has partnered with Thomson Reuters, using their Stock Report Plus, which scores are comprised of analyst ratings of earnings, fundamentals, relative valuations, risks, price momentum and insider trading as a screener to the shortlisted companies.
The companies are shortlisted by adopting the following process:
Stage 1
Companies shortlisted by CGIO based on the GICS categories using a scorecard developed for SIAS.
Stage 2
Shortlisted companies are screened using the Refinitiv Stock Report Plus.
Stage 3
Companies reviewed and nomination by Handshakes, industry partners and media.
Stage 4
Selection Committee members meet to decide the winners based on the quantitative and qualitative inputs.
Mr. David Gerald
Founder, President & CEO, SIAS
Prof. Lawrence Loh
Director , Centre for Governance Institutions and Organisations, National University of Singapore
Ms. Carmen Wee
CEO , The Investment Management Association of Singapore (IMAS)
Mr. Francis Er
Executive Director , CFA Singapore
Ms. Melinda Sam
CEO , Securities Association of Singapore, (SAS)
Ms. Quek Lee Kiang
Business Editor , Lianhe Zaobao
Mr. Walter Fernandez
Editor-in-Chief , MediaCorp
Mr. Wong Wei Kong
Executive Editor , The Business Times
To encourage companies to adopt high levels of investor relation practices.
Big Cap - market capitalisation of $1 billion and above
Mid Cap - market capitalisation of $300 million to less than $1 billion
Small Cap - market capitalisation of less than $300 million
REITs and Business Trusts
The scorecard for the selection process is jointly developed by SIAS with the Centre for Governance, Institutions and Organisations (CGIO) of NUS Business School
Stage 1
All SGX listed companies are evaluated based on ‘Shareholders’ Rights and Equitable Treatment’ and ‘Transparency and Disclosure’ Sections of the *STARS framework. The top 20% of companies with the highest scores are then assessed further using the Shareholder Communications Excellence Assessment Scorecard.
Stage 2
The shortlisted companies are also assessed based on Shareholder Communications Excellence criteria:
Policy and Structure
Disclosure and Practices
Communication and Outreach
Following and Coverage
The company’s communication activities such as Investors Day, dialogue sessions and briefings are included as part of the overall score.
Stage 3
The shortlisted companies are evaluated based on qualitative and quantitative inputs with the SCEA Selection Committee Members.
Mrs. Elaine Lim
Independent Director , Chemical Industries (Far East) Limited
Mr. David Gerald
President and CEO , SIAS
Mr. Ang Hao Yao
Private Investor
Ms. Carmen Wee
Chief Executive Officer , Investment Management of Singapore (IMAS)
Mrs. Elaine Lim
Independent Director , Chemical Industries (Far East) Limited
Mr. Harold Woo
President , Investor Relations Professionals Association (Singapore) IRPAS
Mr. Loh Uantchern
Chief Executive Officer , Black Sun
Mr. Wong Wei Kong
Executive Editor , The Business Times
To encourage companies to adopt and report on environment, social and governance practices.
Big Cap - market capitalisation of $1 billion and above
Mid Cap - market capitalisation of $300 million to less than $1 billion
Small Cap - market capitalisation of less than $300 million
REITs and Business Trusts
The Sustainability Award Scorecard assesses companies in the following areas :
Drivers (companies are assessed on their leadership and culture)
Ingredients (companies are assessed on their ESG practices)
Pillars (companies are assessed on their framework, materiality assessment and stakeholder engagement)
Stage 1
Companies are assessed using the Sustainability Score Framework and the top 20% of companies are further assessed incorporating Refinitiv StockReports+ scores.
Stage 2
The shortlisted companies are assessed based on qualitative and quantitative inputs with the SCGA Selection Committee Members. Companies with the highest scores may not necessary clinch the awards.
Mr. David Gerald
Founder, President & CEO , SIAS
Prof. Gunter Dufey
Professor Emeritus of Corporate Strategy and International Business and Professor Emeritus of Finance , University of Michigan - Business School
Prof. Lawrence Loh
Director , Centre for Governance Institutions and Organisations, National University of Singapore
Mr. Daryl Neo
Founding Director , Handshakes
Mr. Evan Law
Chief Executive , Singapore Accountancy Commission, (SAC)
Mr. Francis Er
Executive Director , CFA Singapore
Mr. Gregory Vijayendran
President , The Law Society of Singapore
Mr. Kon Yin Tong
President , Institute of Singapore Chartered Accountants (ISCA)
Mr. Wong Wei Kong
Editor , The Business Times
Ms. Melinda Sam
CEO , Securities Association of Singapore, (SAS)
Ms. Carmen Wee
CEO , The Investment Management Association of Singapore
Ms. Tan Boon Yen
President , The Institute of Internal Auditors Singapore, (IIA Singapore)
Mr. Tay Woon Teck
Partner , RSM
Ms. Quek Lee Kiang
Business Editor , Lianhe Zaobao
Mr. Walter Fernandez
Editor-in-Chief , MediaCorp
To encourage brokerage firms to better their quality of service and information provided to ensure retail investors have a good understanding of what they invest in.
SIAS, in collaboration with Singapore Management University and Investment Trends have developed a set of criteria for the effective evaluation of brokerage firms in Singapore.
Brokers are shortlisted through the following processes:
Stage 1
Through qualitative research, SMU identifies brokerage firms based on variables such as product offerings, disclosure & security, technology, investor education, customer service and recognition.
Stage 2
Quantitative research, by Investment Trends, a global financial services market research organisation, is incorporated. Variables such as, value for money, functionality of website, advisory services team/remisiers, reporting of positions and transactions, speed and reliability of website, trading ideas/strategies, charting, mobile app, choice of investments, provision of company research, ease of use, rewards/loyalty program and fees & charges are collectively evaluated and incorporated into Stage 1.
Stage 3
Based on both qualitative and quantitative research, results are tabulated and scored. Brokerage firms are also asked to submit a write up on their initiatives.
Stage 4
Selection Committee Members meet to decide the winners based on the results.
Mr. Ang Hao Yao
Director , Credit Counselling Singapore
Mr. David Gerald
Founder, President and CEO, Securities Investors Association Singapore (SIAS)
Prof. David Ding
Associate Professor of Finance (Education), Singapore Management University
Mr. Christopher Cheong
Chairman , Bio-Scaffold International
Mr. Harold Woo
President , Investor Relations Professional Association (Singapore) (IRPAS)
To encourage financial journalists to uplift their reporting standards and provide information that are beneficial to the investing community at large.
Judging of entries is based on news value, originality, reportorial quality, analytical value and impact on the financial community and to the retail investors at large.
This award is open to career journalists only. Journalist from the local media, both print and broadcast, are eligible.
Financial Journalist of the Year Award
Based on news worthy contributions that had made substantial impact on the investing community in the period under review, he/ she has to be a well-rounded journalist with the ability not only to break significant stories but is also able to write commentaries that take a clear position and provide insights for investors.
Financial Story of the Year Award
Candidates under this category will be judged on either one story or a series of stories based on one topic that makes an impact on the financial community.
Investor Education Award
Focusing on education and the impact on the investing community, the journalist/programme must have displayed sound knowledge of the investment principles and the instruments discussed, produced and written consistently over a minimum period of at least six (6) months.
Special Award
The Special Award is presented for journalists who consistently delivers ground-breaking, insightful, easy to understand, probing, news that has significant consequences and written with the proper context and background.
Educational Content - Has to cover a wide range of topics not only products (features and risks) promoting importance of financial planning including retirement planning and how impactful it is on the investing community .
Target Audience - Articles must cover a wide range of audience .
Consistency - Demonstrate on-going interest, variety and standard .
Feedback - Must be strongly supported by the readers, listeners or viewers .
Track Record - Minimum of 3 years track record in community investor education .
Mrs. Elaine Lim
Independent Director , Chemical Industries (Far East) Limited
Mr. Andrew Cheng
Group CEO , Kingsmen Creatives
Mr. Ang Hao Yao, CFA
SIAS Management Committee Member
Ms. Catherine Ong
CEO , Catherine Ong Associates
Mr. Christopher Cheong
Chairman , Bio-Scaffold International
Mr. David Gerald
Ex-Offcio, Financial Journalist Award , Founder, President and CEO, SIAS
Mr Sivanithy s/o Rathananthan
Editorial Consultant , Securities Investor Association Singapore (SIAS)
Mr. TK Yap, CFA
Managing Director & Head of Institutional Trading and Execution Services , CGS-CIMB Securities (Singapore)
