Date: October 5, 2011
Singapore, October 5, 2011 – Securities Investors Association (Singapore) (“SIAS”), a strong advocate for corporate transparency and progressive industry practices aimed at protecting shareholder interests, will be holding Singapore’s second Corporate Governance Week (“CG Week 2011”) from Oct 24 to 28.
Building on the success of last year’s inaugural CG Week 2010, SIAS has already received strong support from the Organisation for Economic Co-operation and Development (“OECD”) as the Supporting Organisation; the Singapore Exchange (“SGX”) as the Supporting Exchange; Boardroom Limited (“Boardroom”) as its Main Sponsor; the Centre for Governance, Institutions and Organizations (“CGIO”) as its Strategic Partner; and many professional and trade bodies as well as leading institutions and corporations that are participating for the second year.
Distinguished speakers from around the world, including Australia, America, South
Africa, India and Southeast Asia, will grace the four-day event with seminars, panel
discussions and presentations. The programmes include a two-day Asian Investors’
Corporate Governance Conference, the 12th Investors’ Choice Awards, Executive
Workshops by the big four Accountancy firms and a “Master Class” with world
renowned corporate governance expert from South Africa, Mervyn King.
Together with SIAS, the Institute of Internal Auditors Singapore (IIA) and Singapore
Management University, Sim Kee Boon Institute for Financial Economics (SMU,
SKBI), the 12th Investors’ Choice Awards will introduce for the first time the “Internal
Audit Excellence Award”.
This award, supported by SGX, will complement the recent proposed changes to the
Corporate Governance Code, and enhance investors’ confidence in listed
companies. The award seeks to honour and recognise public listed companies that
have put in place an effective internal audit function.
CG Week 2011 activities are as follows:-
Oct 24 – 25 : 3rd Asian Investors’ Corporate Governance Conference
Oct 25 : Executive Workshops by the Big Four Accounting Firms
Oct 27 : Mervyn King’s Master Class
Oct 27 : 12th Investors’ Choice Awards Ceremony
Oct 28 : A workshop in Crisis Management and Effective Public Relations
Oct 28 : Investors’ Forum – Importance of Governance for Retail Investors
Mr David Gerald, President and CEO of SIAS commented, “A recent Business
Times report highlighted Singapore’s attractiveness as an investment destination, in
part because of its strong corporate governance record. We cannot emphasise
enough that good practices are key to the health and stability of markets in Asia,
especially given the current market turmoil. While we are proud that we have come a
long way in achieving sound corporate governance practices in Singapore, we must
not rest on our laurels.”
“Improving corporate governance is a journey, not a destination. Corporate fraud is shown to be on the rise by a recent KPMG survey, therefore much work remains to be done in pushing for higher standards for our listed companies and safeguarding all stakeholders’ interests.”
“With increased sophistication and knowledge of the market, shareholders are increasingly inclined to seek accountability from the Boards and senior management of listed companies,” Mr Gerald said. “There is recognition that institutional investors, in particular, are seeking well-governed companies to park their monies.”
CG Week 2011 is also supported by the following partners:
– Deloitte
– Ernst & Young
– KPMG
– Price Waterhouse Coopers
– CPA Australia
– Chubb
– Rodyk & Davidson LLP
– Wong Partnership
– Kirby McInerney LLP
– Willis
– Association of Chartered Certified Accountants (ACCA)
It is endorsed by:
– The Law Society of Singapore
– The Institute of Internal Auditors Singapore (IIA)
– Institute of Certified Public Accountants of Singapore (ICPAS)
– Singapore Institute of Directors (SID)
– CFA Singapore
– Investment Management Association of Singapore (IMAS)
– Securities Association of Singapore (SAS)
– The Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA)
The official print media is The Business Times, and the official IR consultancy is Citigate Dewe Rogerson, i.MAGE.
Pledge by Companies to support the highest standards in Corporate Governance
As a key feature of the week’s programme, the Pledge by listed companies to uphold and advance good corporate governance standards signifies their commitment to be accountable to their shareholders and the public. The Statement of Support will be published in The Business Times, along with the pledging Companies’ names and logos.
“Listed companies pledging the Statement of Support serves to ease investors’ concerns, dispel skepticism and return confidence to the integrity of the global capital market. SIAS is calling on listed companies to publicly stand up and be counted for corporate governance,” said Mr Gerald.
The Asian Investors’ Corporate Governance Conference 2011
One of the key events of CG Week 2011 is the 3rd Asian Investors’ Corporate Governance Conference, to be held on Oct 24 and Oct 25 at Raffles City Convention Centre. During the conference, corporate governance experts and professionals from around the world will be speaking along the theme of “Progress and Changes in Asian Corporate Governance Practices” and leading discussions on trends, developments and best practices in corporate governance.
A key highlight is a talk by world-renowned corporate governance expert, Professor Mervyn King, who chairs the King Committee on Corporate Governance in South Africa. King, a former judge with extensive experience as chairman and director of companies listed on the London, Luxembourg and Johannesburg Stock Exchanges, will speak on “Corporate Governance – Quality versus Quantity.”
“The conference and CG week bring leading corporate governance experts and industry professionals together to discuss current challenges in the field and share expertise and new insights pertaining to corporate governance,” commented Mr Gerald. “We believe that the exchange of ideas and building of relationships here among like-minded individuals can only serve to strengthen corporate governance in Asia and worldwide.”
The 12th Investors’ Choice Awards
The 12th Investors’ Choice Awards will be held on the evening of Oct 27. The event will honour companies and individuals who have contributed to the advancement of greater corporate transparencies. Key Awards include:
– Singapore Corporate Governance Award;
– Most Transparent Company Award;
– Financial Journalist of the Year Award;
– Best Broker Award; and
– Internal Audit Excellence Award;
This year, in a new initiative supported by SGX, SIAS will introduce the “Internal Audit Excellence Award” to complement the recent proposed changes to the Corporate Code of Governance and enhance investors’ confidence in listed companies in collaboration with The Institute of Internal Auditors Singapore and Singapore Management University, Sim Kee Boon Institute for Financial Economics.
The objective of the Internal Audit Excellence Award is to promote greater awareness of the importance of an effective internal audit function in Listed Companies. This award is to recognise companies that have put in place an effective internal audit function to enhance corporate governance, risk management and assurance. Specifically, how Internal Audit (IA) preserves and enhances value to the organisation by improving opportunities to achieve organisational objectives, identifying operational improvements, and reducing risk exposures through both assurance and consulting services.
Mr Gerald commented, “We are pleased that international thought leader on corporate governance Mr Mervyn King will be presenting the Internal Audit Excellence Award, which seeks to honour and recognise public listed companies with effective internal audit function. The inaugural award complements the existing awards in enhancing the corporate governance framework as a whole.”
Executive Workshops by the Big Four
Executive Workshops will be held on Oct 25, 2011, day two of CG Week 2011 at Marina Mandarin Hotel. Representatives from Deloitte, Ernst & Young, KPMG and Price Waterhouse Coopers will share their insights on current issues in the corporate governance sphere, namely the proposed changes in the Singapore Code of Corporate Governance and Companies Act, and audit trends and practices.
A “Master Class” with world-renowned Corporate Governance expert from South Africa, Mervyn King
On the third day of CG Week 2011, Mervyn King, who chairs the King Committee on Corporate Governance in South Africa, will speak on “Corporate Governance – Quality versus Quantity.” The King Committee produces the King Reports on Corporate Governance, which set the benchmark for corporate governance regimes around the world to aspire to achieve.
A workshop on Crisis Management and Effective Public Relations
This panel will explore the issues and dynamics of crisis management to better equip Board of Directors dealing with a crisis situation. Experts from public relations, insurance, legal and board of directors will focus on critical issues facing companies on crisis management.
Notes to Editor:
Quotes from:
Supporting Organisation, OECD:
OECD’s Ms Fianna Jesover, Senior Policy Manager, Global Relations Corporate Affairs Division says: “Corporate governance in Asia matters, also globally. Investors have a key role in promoting good corporate governance. This meeting of the Asian Investors’ Corporate Governance Conference and Singapore’s Corporate Governance Week 2011 is an important opportunity to invigorate investors in pursuing your important stewardship responsibilities.”
Supporting Exchange, SGX:
Mr Magnus Bocker, CEO of Singapore Exchange says, “SGX is pleased to partner SIAS in its efforts to develop stronger corporate governance among listed companies in Singapore. We strongly believe in concerted efforts by industry bodies, professionals and investors to enable Singapore to stay ahead in today’s marketplace.”
“Good corporate governance is a key pillar underpinning Singapore’s position as a trusted financial and business centre. Investors will increasingly favour companies with good governance over other companies because they trust such companies and their practices. SGX has recently implemented more robust corporate governance rules, requiring companies to disclose more information about their internal controls and legal representatives. These changes are aimed at increasing disclosure and safeguarding shareholders’ interests. We believe that in the long run, the changes will foster a stronger, healthier market environment for all stakeholders.”
Strategic Partner, CGIO:
Associate Professor Lawrence Loh, researcher at NUS Business School’s Centre for Governance, Institutions and Organizations, says “Corporate governance isn’t merely a box-ticking exercise. Companies who embrace not just the letter of the law, but the spirit of it, display the following fundamental characteristics: Fully independent committees; openly disclosed risks and plans to manage them; sound whistle-blowing policies; and well-run websites and investor relations. A company’s leadership sets the tone for good corporate governance and transparency, regardless of market cap size.”
Main Sponsor, Boardroom
Mr Kim Teo, CEO, Boardroom Limited says, “As the Main Sponsor for CG Week for the second time, Boardroom has seen how the values of good corporate governance and transparency practices underpin business resilience and economic growth. Corporate governance will continue to play an increasingly prominent role in investors’ and other stakeholders’ decision-making processes going forward. The 2008/2009 financial crisis and the current market turmoil underscore the importance of having corporate governance firmly embedded within an organisation’s culture. As a listed company ourselves, we recognize the importance of corporate governance as it translates to stronger long-term performance of the company, thereby enhancing the value for stakeholders. As a leading business service provider, we have assisted our clients in this critical area, so they can focus on their core competencies and strategic goals. Boardroom will continue to promote, advocate and advise our clients on the best practices of transparency, accountability and good corporate governance in the interest of their businesses and the capital market at large.”
| ISSUED ON BEHALF OF | : | Securities Investors Association (Singapore) (“SIAS”) |
| BY | : | Citigate Dewe Rogerson, i.MAGE Pte Ltd 1 Raffles Place #26-02 One Raffles Place Singapore 048616 |
| CONTACT | : | Ms Dolores Phua / Ms Chelsea Phua at telephone |
| DURING OFFICE HOURS | : | 6534-5122 (Office) |
| AFTER OFFICE HOURS | : | 9750-8237 / 9667-5837 (Handphone) |
| : | dolores.phua@citigatedrimage.com chelsea.phua@citigatedriamge.com |
016/11/016/SIAS
October 5, 2011
