SINGAPORE: Singapore-listed companies will be required to disclose the exact amount of payouts and salaries paid to their individual directors and chief executive officers in their annual reports.
"SGX RegCo believes that the increased transparency will enable investors to assess whether the directors and CEO are appropriately incentivised," said SGX RegCo, the exchange's regulatory arm. It will also remove, with immediate effect, the two-tier vote mechanism for companies to retain long-serving independent directors who have served for more than nine years.
SGX RegCo said companies can consider tapping on the resources or services provided by the Council for Board Diversity, the Singapore Institute of Directors, as well as the relevant professional associations to help in their search for new independent directors.
Singapore's economy grow no further than 4%, it's proven your directors and executives are overpaid