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Companies with $1 billion and above in market capitalisation

Gold ico Gold CapitaLand Ltd
Gold ico Gold Oversea-Chinese Banking Corporation Ltd
silver ico Silver United Overseas Bank Ltd
bronze ico Bronze Frasers Property Ltd

Companies with $300 million to less than $1 billion in market capitalisation

Gold ico Gold Banyan Tree Holdings Ltd
silver ico Silver Far East Orchard Ltd
bronze ico Bronze Tuan Sing Holdings Ltd

Companies with less than $300 million in market capitalisation

Gold ico Gold Frencken Group Ltd
silver ico Silver Global Investments Ltd
bronze ico Bronze Avi-Tech Electronics Ltd

Objectives of the Award

  • Focus boards' attention on transparency, accountability, performance orientation, good processes and practices;
  • Provide a multi-dimensional view of board effectiveness;
  • Underscore the importance of human capital practices at the board level;
  • Ratchet up benchmarks by bringing the best out of board practices in Singapore.

Categories of the Award

The Award will be presented to the Best Boards in the following categories:

  • Companies with market capitalisation of S$1 billion and above;
  • Companies with market capitalisation of S$300 million to less than S$1 billion;
  • Companies with market capitalisation of less than S$300 million.

Selection and Judging Process

The selection for this Award goes through a rigorous three-stage process.

In Stage 1, all listed companies are screened based on publicly available information of total shareholder returns, corporate governance practices, and corporate governance indices (the Singapore Governance and Transparency Index and the ASEAN Corporate Governance Scorecard).

A shortlist of about ten companies in each category will be developed.

In Stage 2, additional inputs on shortlisted Companies are obtained through research and discreet inquiries. The Best Managed Board committee will visit companies which are further shortlisted to confirm the information and obtain more information on their board practices and processes.

In Stage 3, a panel of judges will meet with and interview the boards of the final shortlisted candidates and rank them.


Companies are selected based on the assessment of the following criteria:

  • Overall quality of corporate governance as reflected in board and committee structure, practices, external validation;
  • Board composition and accountability: independence, skill-mix, board and gender diversity, working relationships, commitment, etc.;
  • Board functions: principles and processes, meeting and information management, committee functioning, board evaluation;
  • Performance orientation: board, director and executive performance management, strategic guidance and company performance monitoring, performance-linked executive compensation;
  • Managing company leadership: access to management, balance of power, succession planning and talent development;
  • Directors' development and recognition: board orientation, on-going development, alignment of compensation with shareholders' interests;
  • Corporate transparency and governance disclosure: financial disclosure content and context, governance compliance and reasons for non-compliance;
  • Shareholders' Interest: shareholder value creation and return to shareholders, shareholder communications and meetings;
  • Risk management: risk management framework and processes;
  • Corporate social responsibility and sustainability: policies and practices.


Ms Ivy Teo

Singapore Institute of Directors

168 Robinson Road #11-03
Capital Tower
Singapore 068912

Telephone: 65-6422 1195
Facsimile: 65-6422 1199
Email: ivy@sid.org.sg

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