MAS eyes changes to corporate governance code on boards’ roles in value creation, investor engagement

MAS notes that SGX will consider mandatory disclosures relevant to shareholder value. Read more at straitstimes.com.

SINGAPORE – The Monetary Authority of Singapore (MAS) will closely track the progress and outcomes of a “Value Unlock” programme and gather feedback as it seeks to establish broader industry norms for value-creation practices, said its managing director Chia Der Jiun at the inaugural Chairpersons Guild Forum on March 6.

“We believe the best results are achieved when listed companies own the process, outcomes and work in partnership with us,” he added.

Mr Chia noted that MAS is reviewing the corporate governance (CG) code to raise market-wide expectations for boards’ roles in value creation and investor engagement.

The review, conducted with the Singapore Exchange (SGX) and Corporate Governance Advisory Committee, will consider possible changes from two angles.

One focus will be on how the CG code can place greater emphasis on boards’ responsibilities for shareholder value creation and investor engagement, Mr Chia said.

For instance, MAS will examine how the principles of the code could be supplemented with practical guidance on value creation.