No intention to enforce corporate governance recommendations

robertteh SG

To a forumer (posted on 15.7.2005 to www.findSingapore.net/forum)

What I have suggested to the Feedback Unit is: corporate governance disclosures and independent directorship were merely window dressing stuff that will not check on corporate abuses.

I counter-suggested that corporate governance measures should be translated into daily or operational work processes so that true corporate governance is practised truly by companies to avoid abuses.

Now the government (I have not read the Business Times) might have preferred not to implement any codes of corporate governance at all except as guidelines. If they take this approach, they are putting on reverse gear.

I think they should have nothing to be afraid of if there is no NKF cases among GLCs, ministries or departments. Why be afraid to be held accountable and transparent and not want the recommendations to become law or enforceable ?
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Atobe SG

The reason for not implementing such a requirement is quite obvious, as it will have to be extended to GIC, which is a business entity that is incorporated and registered in Singapore.

It will require total transparency in its accountability.