Governance For Stakeholders
Is Corporate Governance in Singapore on a Downward Trajectory?
By Mak Yuen Teen On December 5, the Asian Corporate Governance Association (ACGA) released the 2018 edition of the CG Watch which covers twelve Asian markets. The report includes a “top-down” market survey undertaken by ACGA and a “bottom-up” environmental, social and governance (ESG) survey of companies by CLSA. In this commentary, I will focus on the ACGA market survey. This survey now uses seven categories that are broadly based on the different stakeholders in the corporate governance ecosystem. They are “Government and public governance”, “Regulators”, “CG rules”, “Listed companies“, “Investors”, “Auditors and audit regulators”, and “Civil Society and media”. The “Regulators” category is further divided into “Funding, capacity building, regula