Singapore tops Asia-Pacific in corporate governance but still lags behind Australia

SINGAPORE (Sept 29): Singapore has topped a corporate governance survey ranking 12 key Asia-Pacific markets released today by brokerage and investment group CLSA, in collaboration with the Asian Corporate Governance Association (ACGA).

But Asia-Pacific must look to Australia to provide a benchmark of the deficiencies in the region’s governance, CLSA and ACGA say in a joint press release.

“In contrast to Australia, the controlled and hierarchical management-shareholder communication system in Asia may become, if it does not evolve, a significant impediment to corporate governance and capital market development in Asia,” says Jamie Allen, secretary-general of the ACGA.

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