CEO SGX RegCo, Tan Boon Gin
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



2024 / 2025 Summits in Hong Kong & Singapore
Institutional Investor Summit / Roundtable - March / Oct / Nov
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.











Singapore Limits Listco Independent Directors Term to 9 Years Starting from 2024, Annual Reports to Disclose Detailed Compensation to CEOs & Directors from 2025

12th January 2023 | Singapore

Singapore Exchange Regulation (SGX RegCo) will limit listed companies & issuers independent directors term to 9 years starting from 2024, and annual reports are required disclose detailed compensation to CEOs & Directors from 2025.  SGX RegCo: “Singapore Exchange Regulation (SGX RegCo) will limit to nine years the tenure of independent directors (IDs) serving on the boards of listed issuers.  As transition, IDs whose tenure exceeds the nine-year limit can continue to be deemed independent until the issuer’s annual general meeting (AGM) held for the financial year ending on or after 31 December 2023. This effectively gives affected issuers more than a year to search for new IDs … … Annual reports prepared for the financial years ending on or after 31 December 2024, requires companies to disclose remuneration paid to individual directors and CEO by the issuer and its subsidiaries. SGX RegCo believes that the increased transparency will enable investors to assess whether the directors and CEO are appropriately incentivised.”  See below for Singapore Exchange Regulation (SGX RegCo) and Singapore central bank Monetary Authority of Singapore (MAS) announcement. 

“ Singapore Limits Listco Independent Directors Term to 9 Years Starting from 2024, Annual Reports to Disclose Detailed Compensation to CEOs & Directors from 2025 “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
17th Oct Hong Kong | 7th Nov Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place on 17th Oct 2024 in Hong Kong, 7th Nov 2024 in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2024 Family Office Summit
17th Oct Hong Kong St Regis | 7th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here


2024/2025 Institutional Investor Summit / Roundtable
March / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Senior investment team from Sovereign Wealth Funds, Pension Funds, Endowments, Foundations & Charities in Hong Kong, Singapore & Asia-Pacific at the 2024 Institutional Investor Summit / Roundtable.   Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





 

SGX RegCo CEO Tan Boon Gin: “SGX RegCo would like to thank the Corporate Governance Advisory Committee and the market for supporting the rules on independent directors’ tenure and remuneration disclosures. These changes provide an opportunity for companies to inject new skills, experience and knowledge into their boards, all of which will be invaluable in guiding the business for the long term. Various participants within the market community have indicated they are ready to support companies in meeting these requirements so we encourage companies to tap them when making the necessary changes.”

Singapore Minister for Social & Family Development Masagos Zulkifli: “This is an important move that will promote good governance, as well as greater diversity that strengthens boards’ decision making process. This also is in line with our action plans in the White Paper on Singapore Women’s Development, to increase the representation of women on boards. I encourage companies to use this opportunity to think actively about succession planning and refresh their boards with the right mix of board directors to best chart their path forward.”

Monetary Authority of Singapore Assistant Managing Director (Capital Markets) Lim Tuang Lee: “High standards of corporate governance, characterised by strong accountability and transparency, are critical in upholding investor confidence in our capital markets. The latest enhancements, which are in line with global best practices, are important steps to further strengthen director independence, encourage board renewal and improve market transparency.” 

 

 

Singapore Exchange Regulation (SGX RegCo) Announcement 

CEO SGX RegCo, Tan Boon Gin

11th Jan 2023 – Singapore Exchange Regulation (SGX RegCo) will limit to nine years the tenure of independent directors (IDs) serving on the boards of listed issuers. The proposal to limit the tenure of IDs, which stemmed from recommendations by the Corporate Governance Advisory Committee (CGAC), received broad market support during a public consultation process.

As transition, IDs whose tenure exceeds the nine-year limit can continue to be deemed independent until the issuer’s annual general meeting (AGM) held for the financial year ending on or after 31 December 2023. This effectively gives affected issuers more than a year to search for new IDs.

SGX RegCo will remove with immediate effect, the two-tier vote mechanism for companies to retain long-serving IDs who have served for more than nine years. Previously, long-serving IDs could continue to be deemed independent so long their appointment was approved by all shareholders, and then by all shareholders excluding the directors and the CEO of the issuer, and associates of these directors and CEO. This mechanism was widely used by issuers to retain hundreds of long-serving IDs, inhibiting board renewal and progress on board diversity.

While concerns about competition, sensitivity and privacy were raised during the consultation, market participants largely supported the proposal for issuers to disclose the exact amount and breakdown of remuneration paid to directors and the CEO in their annual reports. This proposal also stemmed from recommendations by the CGAC.

This new rule, which will take effect for annual reports prepared for the financial years ending on or after 31 December 2024, requires companies to disclose remuneration paid to individual directors and CEO by the issuer and its subsidiaries. SGX RegCo believes that the increased transparency will enable investors to assess whether the directors and CEO are appropriately incentivised. Information to be disclosed must include base or fixed salary, variable or performance-related income or bonuses, benefits in kind, stock options granted, share-based incentives and awards, and other long-term incentives.

Issuers can consider tapping the resources or services the Council for Board Diversity, the Singapore Institute of Directors and the relevant professional associations provide to facilitate their search process for new IDs.  More details on the responses to the public consultation and the new rules are found here.

 

Monetary Authority of Singapore Announcement 

Singapore central bank Monetary Authority of Singapore (MAS) revises the Code of Corporate Governance to reflect independent director tenure limit and mandatory renumeration disclosure for directors and CEOs

11th Jan 2023 – The Monetary Authority of Singapore (MAS) today introduced amendments to the Code of Corporate Governance (Code), to reflect SGX RegCo’s Listing Rule changes to introduce a nine-year tenure limit for independent directorsPrior to the amendment, listed companies could continue to appoint a director as independent director beyond nine years, subject to a two-tier vote. and mandatory remuneration disclosure for each individual director and chief executive officer (CEO)Prior to the amendment, the exact remuneration disclosure requirement for directors and CEOs was set out in the Code of Corporate Governance, which applies on a “comply or explain” basis.

These revisions to the Code and Listing Rules are in line with the recommendations made by the Corporate Governance Advisory Committee (CGAC) on 13 September 2022, which were in response to the review of SGX-listed companies’ corporate governance disclosures released by SGX RegCo on the same daySGX RegCo had commissioned KPMG to conduct the review. The report was published on 13 September 2022. Please refer to SGX RegCo’s press release for more details.

MAS will amend the Notice to All Holders of a Capital Markets Services Licence for Real Estate Investment Trust Management (REIT Managers) (MAS Notice SFA 04-N14 ) to reflect the change in remuneration disclosure requirements for directors and CEOs of REIT Managers to mandatory from comply or explain. The amendments will take effect on 1 January 2025, in alignment with the implementation of the SGX Listing Rules requirement.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 17th Oct2024 Investment Day Singapore 7th Nov2024 Family Office Summit Hong Kong 17th Oct2024 Family Office Summit Singapore 7th Nov2025 Events












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • July 2024 - Hong Kong
    • July 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Oct 2024 - Hong Kong
    • Nov 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014