Date: October 4, 2010
1. Mr JY Pillay – Chairman, Singapore Exchange
2. Mr Magnus Bocker – CEO, Singapore Exchange
3. Mr Hsieh Fu Hua – Executive Director and President, Temasek Holdings
4. Mr Kim Teo, CEO, Boardroom
5. Distinguished Guests, Speakers, Delegates, Ladies and Gentlemen.
6. A very good morning to you all.
7. We have just come through a mammoth global economic crisis that stemmed from a corporate failure in the US. This has changed the whole global dynamics and, investors and regulators, are now calling for greater disclosure and transparency in the way a company operates.
8. Therefore, companies, regulators and markets cannot continue to operate the same way they have thus far. Directors, senior management and corporate governance professionals have to update and be ready to embrace the changes that are now taking place globally.
9. In 2008, SIAS launched the inaugural Singapore Corporate Governance Conference. The intention was to bring together corporate governance professionals, listed companies and investors to discuss corporate governance issues and best practices.
10. Last year, SIAS expanded the event to cover Asia and today, in keeping with the needs of the market, we have dedicated a week to promoting good corporate governance. Hence, the Singapore Corporate Governance Week which will feature this Conference, four Executive Workshops and a workshop on the second board Catalist companies.
11. Over the next two days, you can expect the OECD findings on Corporate Governance and the Global Financial Crisis and some of the recommendation to strengthen the corporate governance framework. You would also be hearing from regulators in Asia, Stock Exchanges and industry leaders regarding the changing corporate governance landscape after the global financial crisis.
12. There will also be discussions on the connections between corporate governance, climate change and corporate social responsibility.
13. I am certain that you will find these discussions insightful in shaping the future of corporate governance in this region.
14. This initiative, the Singapore Corporate Governance Week, is developed with the needs of the markets and the changing global regulatory environment, so that companies and investors, in Singapore and throughout Asia can benefit from the changes to the new order for greater disclosure and transparency for a shared responsibility. By doing this, we are re-enforcing Singapore’s goal of being a leading financial hub and a centre for corporate governance excellence.
15. I wish to thank, first of all, Singapore Exchange for being a Supporting Exchange and a Sponsor, Boardroom for its sponsorship and support in marketing efforts, the Big Four, Deloitte, Ernst & young, KPMG, PricewaterhouseCoopers and CPA Australia, Rodyk & Davidson, WongPartnership, Chubb and not forgetting the law firm from New York, Kirby McInerney and all endorsers, we thank you sincerely for your support and for making this event a great success.
16. There are 450 attendees here today and many more could not join us due to constraints of space.
17. SIAS will continue to work with industry partners in Singapore and Asia to further the cause of good corporate governance in the interest of all investors.
18. I wish you all an enjoyable Conference and I’m sure you will take with you much from the experts.
