,Singapore

Singapore lags Thailand in corporate disclosure practices

But companies’ disclosure rates improved from 47% to 55% in just two years.

Singapore lagged Thailand in terms of corporate disclosure of anti-corruption practices in the ASEAN, a joint study by the ASEAN CSR Network (ACN) and the National University of Singapore (NUS) Business School’s Centre for Governance, Institutions and Organisations (CGIO) revealed.

Singapore had a disclosure rate of 55% (up from 47% in 2016), whilst Thailand maintained its two-year lead with a disclosure rate of 67% (up from 57% in 2016). The top 50 companies of five ASEAN countries Thailand, Singapore, Philippines, Malaysia, and Indonesia were assessed using 13 questions.

The study found that amongst ASEAN countries, Singapore had the lowest disclosure rates in terms of commitment to comply with laws (94%), having the code applied to all employees and directors (85%), and gifts, hospitality, and travel policies (60%).

Meanwhile, Singapore had the highest disclosure rates for company codes being applied to suppliers (29%), the prohibition of facilitation payments (34%), and each company’s confidential reporting channel (75%).

Moreover, the companies in Singapore which were amongst the top 11 companies across the five ASEAN countries with the highest level of disclosure included Golden Agri-Resources (GAR), Sembcorp Industries, SIA Engineering Company (SIAEC), Singapore Airlines (SIA), and Singtel.

Overall, corporate disclosure of anti-corruption practices has improved over the past two years, but there are still concerns over a lack of safeguards regarding external relationships with agents and suppliers. The average score across the five ASEAN countries is at 56%, a major improvement from 45% in 2016.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Singtel had the most growth for the day.
This is despite its improved performance in two categories.
The expected increase will be driven by three factors.
The two also discussed post-pandemic recovery.
It also recorded a strong performance for H1 2021, despite a net loss of $150.6m.
Jigger & Pony found itself retaining its ninth ranking.
The moderate increase was driven by expansions in five out of six indicators.
Perpetual (Asia) Limited is on the other end of the agreement, as the purchaser.
CLSA will serve as issue manager of the proposed spin-off and listing.
Yangzijiang Shipbuilding had the most growth for the day.
The new facility is the first of its kind in Singapore.
Proceeds will be used for Olam's general corporate purposes.
The completion of divestment will take place during the first quarter of 2022.
This is to raise gross proceeds of more than $200m.