SINGAPORE – The number of women sitting on the boards of listed companies, statutory boards and institutions of public character has risen but representation in Singapore’s top 100 listed companies continues to lag behind.
In the public sector, the proportion of women having a board seat at statutory boards in Singapore hit 32 per cent in June 2023. Statutory boards were the first of the three sectors to hit their voluntary target of 30 per cent in 2022. She added that a company could otherwise miss out on harnessing talent as a competitive edge, and a non-profit risks losing its connection to the communities it serves.
In terms of breadth, statutory boards have the highest female representation on boards among the three sectors. Almost 60 per cent of statutory boards have achieved women’s participation on boards of at least 30 per cent or more.When it comes to boards chaired by women, it is 20 per cent for statutory boards, 18 per cent for the top 100 IPCs and 9 per cent for the top 100 firms.
Speaking at Thursday’s event, Mr Loh Boon Chye, the council’s co-chair and chief executive of the Singapore Exchange Group, noted that gender, as the most visible form of diversity, offers a powerful and accessible lead-in to conversations on broader diversity. “At present, only 9 per cent of boards at top 100 companies are chaired by women, and women sit on less than a quarter of all audit, nominating and remuneration committees.