2009

by Chew Xiang, Apr 24 2009Over-regulation has downside: ShanmugamLax enforcement, rather than lack of regulation, is at the root of the present financial crisis, and more rules are not the solution, Law Minister K Shanmugam said yesterday.

'I do not suggest there is no need for additional regulations,' Mr Shanmugam, who is also Second Minister for Home Affairs, said in a speech at the Singapore Corporate Awards presentation last night. 'But going too far in that direction is not going to help.'
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by Emilyn Yap, Apr 24 2009Where Board Independence is taken SeriouslyCrises reveal weaknesses in companies but they also showcase strengths in others. In Chemoil Energy's case, its ability to ride out the upsets of 2008 has highlighted its resilience which in part, reflects the quality of its board of directors.Read the full article

by Lynette Khoo, Apr 24 2009The Key is Choosing and Training DirectorsHaving a well-managed board begins with choosing and training directors who are independent from management and well-grounded enough in governance issues to be able to take management to task. This principle has been encapsulated in the big cap winners of the Best Managed Board of this year's Singapore Corporate Awards.Read the full article

by Conrad Tan, Apr 24 2009Small, but StrongBoth Baker Tech and Qian Hu believe in keeping their directors well-informed and up-to-date, says Conrad Tan. Size matters little when it comes to good corporate governance - at least for some firms. The two small-cap companies - Baker Technology and Qian Hu Corp - that won merit awards for Best Managed Board at this year's Singapore Corporate Awards show small firms need not mean weak boards. Read the full article

by Winston Chai, Apr 24 2009The Man "Running" StarhubHis unwavering discipline combined with prudent thinking and well-defined goals lie behind its success, says Winston Chai. Terry Clontz puts in a five-km jog every morning and tries to double the distance at least once a week. Even though he pounds the pavement daily, the modest chief executive of StarHub refuses to be labelled as a hardcore runner.Read the full article

by Ven Sreenivasan, Apr 24 2009Boss who keeps a Low ProfileThe Boustead CEO believes that the ability to adapt to changing market conditions is the way to success, writes Ven Sreenivasan When Wong Fong Fui was told he was co-winner as CEO of the Year in the $300 million to $1 billion market cap category at the 2009 Corporate Awards, his first reaction was one of amazement.Read the full article

by Chew Xiang, Apr 24 2009Banking on Human CapitalAn organisation's culture and leadership are the real growth engines, Rotary Engg chief tells Chew Xiang. Almost exactly a year ago, Chia Kim Piow and Rotary Engineering, the company he founded over 30 years ago, were awarded the prestigious Enterprise Award at the Singapore Business Awards.Read the full article

by Mak Yuen Tee/Daphne Teo, Apr 24 2009A Comparison of Boards of Big firms across Four CountriesBoards of directors in Singapore have undergone fundamental changes in their structure, composition and practices, since the Code of Corporate Governance was first introduced in 2001. In 2008, Watson Wyatt undertook a study of the boards of directors and the director pay practices of the largest 100 companies in each of the following countries - Singapore, Hong Kong, United Kingdom and AustraliaRead the full article

by Uma Shakari, Apr 24 2009His Vision is to become a Global Fashion CompanyFJ Benjamin chief is confident the company will emerge from the current crisis relatively unhurt, says Uma Shakari. In his three years heading leading lifestyle and fashion group FJ Benjamin Holdings, chief executive Nash Benjamin has seen it through both ups and downs.Read the full article

by Chew Xiang, Apr 24 2009Winning Awards and Winning over InvestorsWhy should a fish farm selling fish need to be listed? That was the first challenge facing Lai Chin Yee when she became chief financial officer of Qian Hu prior to its listing in 2000. 'We went to great lengths to explain to people that Qian Hu is not just a fish farm selling fishes,' she says.Read the full article

by Chew Xiang, Apr 24 2009At the Wheels of a Transport GiantBalancing internal controls with commercial perspective is not easy, says Chew Xiang. The objective of the Best CFO awards is to recognise those who promote good governance, disclosure and transparency beyond the needs of regulations and who help create long-term shareholder value. Those are tough targets to hit.Read the full article

by Oh Boon Ping, Apr 24 2009Much more than a Finance jobASL's CFO lays stress on prudent risk management and competent staff, says Oh Boon Ping. The role of a chief financial officer goes beyond competency in plain accounting, finance management, compliance and reporting, but also include having the requisite commercial knowledge and interest in the operation of the businesses. Besides the financial functions, the CFO is also expected to assist the chief executive in communicating to investors and shareholders on the financial aspects of the company. So says Lilian Tan, group financial controller at ASL Marine Ltd. Read the full article

by Sanjeev Agrawal, Apr 24 2009CFO's role in a DownturnThese are the times that are mentioned in books, practised in theory but difficult to predict in terms of timing and intensity of the challenge. It is a massive reality now but it was not too long ago that any mention of economic indicators at today's levels would have had no buyers. Read the full article

by Chew Xiang, Apr 24 2009Packed with Reader-friendly InfoThe winners this year are more informative and better designed. Chew Xiang looks at the effort that companies take to produce the reports. The annual report is one of the most important sources of information about a company to its investors. Unsurprisingly, there are many rules about the level of disclosure required. Read the full article

by Mak Keat Meng and Glenn Daly , Apr 24 2009Issues of the Day for Boards and Audit CommitteesThe faltering economic conditions in global capital markets and tightening of credit flow witnessed in 2008 have left many companies facing profit erosion or losses by the close of the year. Not surprisingly, increased scrutiny by investors and stakeholders has heightened the pressure and spotlight on boards and audit committees. Read the full article

by Joyce Hooi, Apr 24 2009Winners of IR Award Walk the TalkWebsites, emails, Q&A sessions, regular updates - these firms go the whole way to keep investors informed, says Joyce Hooi. In an environment where disclosures are the new big concern, several firms have emerged as the benchmark for investor relations (IR) practices in a timely manner. For this year's Best Investor Relations award winners, communication is the overarching theme. Across the board, winning firms maintain dedicated IR websites with frequent company updates and announcements.Read the full article

by Elaine Lim, Apr 24 2009The Importance of Investor RelationsTell it as it is, and keep talking in good and bad times, says Elaine Lim. In the past 10 years, investors have been brought through their worst roller-coaster rides in the capital market - spurred by greed, fraud and callous disregard for upholding governance and strengthening fundamentals. This corruption of market attitudes and corporate responsibility led to the collapse of Corporate America. Read the full article

by Na Boon Chong, Apr 24 2009Assuring Ethics and Integrity while Chasing SuccessCompanies need leaders who are able to manage complex sets of priorities, says Na Boon Chong. While there are many contributing factors to the current global financial crisis, there is one factor at the behavioural level, ie, how the executives 'bet the farm' by taking undue risk in the aggressive pursuit of growth. Caught up in the exuberance of growth in the last few years, executives chased growth at the expense of prudence, risk management and long-term sustainability, frequently with the encouragement of the boards and the shareholders. Read the full article