CENTRE FOR GOVERNANCE, INSTITUTIONS AND ORGANISATIONS (CGIO)
ANNUAL REPORT 2011 / 2012
Centre for Governance, Institutions and Organisations (CGIO)
NUS Business School, National University of Singapore, Biz 2 Building #05-01,
1 Business Link, Singapore 117592
Tel: (65) 6516 7609 Email: [email protected] Website: http://bschool.nus.edu/CGIO.aspx
CGIO Annual Report 2011 / 2012 | Pg 2
CENTRE PROFILE The Centre for Governance, Institutions and Organisations (CGIO) had its official launch on 5th July
2011 and was established to provide an important platform for the exchange of ideas and practices
between academics and practitioners on governance issues significant to Asia.
MISSION
CGIO’s mission, as a Centre of Excellence, is to produce impactful research on corporate
governance and institutional development, specific to Asia, which can be applied both in terms of
practice and policy-making.
VISION
CGIO plans to accomplish this mission through a mix of both research and industry programs.
Ultimately, through its areas of focus and activities, the Centre hopes to create a better understanding
of how to build and sustain well-governed organisations and institutions in Asia.
OBJECTIVES
Become an intellectual hub in the area of governance, institution and organisations by
hosting forums, seminars, and conferences.
Conduct high-quality academic research that is also relevant to practice and policy-making in
Asian countries;
Disseminate the best practices and practical implications of academic research to
practitioners and policy-makers.
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5 July 2011 | CGIO Official Launch
The launch was attended by 70 people and included former Cabinet Minister Mr S Dhanabalan, as
well as NUS Business School Dean Professor Bernard Yeung, who gave the opening address at the
event. The launch was reported in the following day’s edition of The Business Times. As part of the
event, Professor Huang Yasheng, professor of political economy and international management at
Sloan School of Management, MIT, delivered a presentation on ‘Institutional Development and
Economic Growth: A Call for an Asian Model’, which was followed by a panel discussion. The panel
speakers – Mr Kosuke Nakamura (Managing Executive Officer, Mizuho Corporate Bank), Mrs Chng
Sok Hui (CFO, DBS Bank), Mr Shalabh Mittal (CEO, Mercator Lines) and Mr Bacelius Ruru
(Chairman, PT Jababeka) who together covered businesses in Japan, Singapore, India and
Indonesia – shared their valuable knowledge and experience. The event helped initiate intellectual
discussion among the business community and experts from the public and private sector.
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Table of Contents
Directors’ Statement ............................................................................................................. 5
Board Of Directors ............................................................................................................... 6
Industry Advisory Council ................................................................................................................... 7
Academic Advisory Council .................................................................................................. 8
Centre Directors ................................................................................................................... 9
1. Academic Activities .........................................................................................................10
1.1 Academic Conferences Organised by CGIO .............................................................12
1.2 Academic Seminars Organised by CGIO ..................................................................12
1.3 International Academic Conferences And Seminars Co-Organised by CGIO ............13
1.4 Research Development .............................................................................................14
2. Industry Outreach Events ................................................................................................15
2.1 Industry Roundtables ................................................................................................17
2.2 Practitioner Events Co-Organised by CGIO ..............................................................18
3. Applied Research Projects ..............................................................................................20
3.1 Governance And Transparency Index (GTI) ..............................................................21
3.2 Singapore Board Diversity Index And Report ............................................................22
3.3 Family Business Report ............................................................................................23
3.4 The Singapore Corporate Governance Awards (SCGA) ...........................................24
4. Media Coverage ..............................................................................................................25
5. Our Strategic Partners .....................................................................................................26
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DIRECTORS’ STATEMENT
Greetings. The Centre for Governance, Institutions, and Organisations (CGIO) was officially launched on the 5th of July, 2011, as one of the newly established centers at the NUS Business School. The CGIO represents the School-wide effort to promote the peaks of excellences by taking intellectual leadership and by disseminating advanced knowledge to practitioners. The CGIO’s mission is to produce impactful research on corporate governance and institutional development, specific to Asia, which can be applied both in terms of practice
and policy-making. The CGIO intends to be broad, encompassing all the functional disciplines that are related to governance issues.
The establishment of the CGIO is timely as the world economy is recovering from the global financial crisis. While the center of gravity of the word economy is rapidly moving toward Asia, Asian countries and companies face tough challenges. In many parts of the region both physical and social infrastructure – including capital markets – remain underdeveloped and there are many other constraints. While governments in Asia played a critical role in the early stage of development, private enterprises and markets are increasingly playing an important role. There is an ever-strong need for governance systems that develop rules, regulations, and monitoring agents that channel individual motivations towards constructive economic behavior.
During the previous year, the CGIO organised various academic conferences and seminars. The annual academic conference featured top thought leaders and shared their state-of-the art research on the governance issues. The CGIO also organised industry roundtables to connect with practitioners to exchange ideas and disseminate the best practices, on the issues of family succession, political connection, and institutional development.
The CGIO also carried out several high-profile applied research projects. The Governance & Transparency Index (GTI), in collaboration with the CPA Australia and the Business Times, ranked all SGX-listed companies on their corporate governance practices and disclosures, which attracted a lot of media attention. We have also developed several reports on boardroom gender diversity and family business.
The CGIO will continue its efforts to provide intellectual leadership and to work closely with industry to promote the best practices in coming years. We would like to take this opportunity to thank all stakeholders and board members for your continuing support and guidance.
Professor Sea Jin CHANG Executive Director, CGIO
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BOARD OF DIRECTORS
Professor Bernard Yeung Dean
NUS Business School, National University of Singapore
Professor Kulwant Singh Professor
NUS Business School National University of Singapore
Kosuke Nakamura Managing Executive Officer
Mizuho Corporate Bank
Lim Joo Boon Industry Advisor
OWW Capital Partners
Ravi Kant Vice-Chairman
Tata Motors
Wang Wenliang Director
Singapura Investment Holdings Pte Ltd
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INDUSTRY ADVISORY COUNCIL
Mita Natarajan Senior Vice President, Head Issuer Services, Singapore Exchange
Yang Yuelin Head (Strategies & Investments),
Group General Counsel, IMC Industrial Group
Reiko Akiike Partner & Managing Director
Boston Consulting Group (Japan)
Willie Chan Managing Director Learning & CEO
Temasek Management Services, Temasek Holdings
Shalabh Mittal Managing Director & CEO
Mercator Lines (Singapore)
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ACADEMIC ADVISORY COUNCIL
Professor Michael Carney
Concordia University Professor Jerry Davis University of Michigan
Professor Huang Yasheng Massachusetts Institute of
Technology
Professor Tarun Khanna Harvard Business School
Professor Bruce Kogut Columbia University
Professor Randall Morck University of Alberta
Professor Steen Thomsen Copenhagen Business School
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CENTRE DIRECTORS
Professor CHANG Sea-Jin
Executive Director
Chang Sea-Jin is a Provost Chair Professor of the Business School, National
University of Singapore. Prior to this, he was a Kumho Asiana Group
Endowed Chair Professor of Business Administration in Korea University. He
received his BA and MA in Economics from Seoul National University and
Ph.D. in Strategic Management from the Wharton School of the University of
Pennsylvania where he was a Dean’s Fellow.
He was a professor at the Stern School of Business, New York University. He also had visiting
appointments at Stanford Business School, INSEAD, London Business School, Hitotsubashi
University and Wharton School. He has industry experience in the telecommunication industry in
Korea and Japan. He is an Editor of the Journal of International Business Studies, a premier
academic journal in international business and sits on the editorial boards of several other leading
journals such as the Strategic Management Journal.
Dr Marleen DIELEMAN Associate Director
Marleen Dieleman is a senior researcher at NUS Business School in
Singapore where she teaches strategy and family business at the
undergraduate, MBA, and executive level. Her academic research focuses on
family business groups in Southeast Asia. She holds a Ph.D. from Leiden
University and a Master degree in Business Administration from Rotterdam
School of Management.
Prior to entering academia she was a management consultant and international project manager. At
Leiden University she was assistant professor and the assistant dean of Leiden University School of
Management. Marleen has published extensively on Asian family business groups in leading
academic journals. She is also the author of two books and various book chapters. She has seven
years of teaching experience, as well as experience in consulting and executive training and is a
regular speaker at conferences and academic seminars.
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1. ACADEMIC ACTIVITIES
As part of its function as an intellectual hub on governance in Asia, CGIO hosts an annual academic
conference and other academic seminars/events to bring together academics from within NUS
Business School, as well as those from other universities, including international and regional
universities. These academic activities facilitate the exchange of knowledge and create a platform for
academics to discuss the latest in their areas of research and expertise. Six of such events were
organised by CGIO on its own or in partnership with other universities and organisations.
The Centre also partners with other universities and organisations in the region to co-organise events in other countries. Thus far, the Centre has co-organised events in Malaysia, Indonesia, Israel and the Netherlands.
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SUMMARY OF ACADEMIC ACTIVITIES
ACADEMIC CONFERENCES ORGANISED BY CGIO: 1
DATE TITLE 25 & 26 August 2011 CGIO Annual Academic Conference
ACADEMIC SEMINARS ORGANISED BY CGIO: 2
DATE TITLE
23 May 2011 The Cursed Virtue: Government Infrastructural Investment and Household Consumption in Chinese Provinces
13 April 2011 The Governance of Industrial Foundations
INTERNATIONAL ACADEMIC CONFERENCES AND SEMINARS CO-ORGANISED BY CGIO: 3
DATE TITLE
17-23 December 2011 Corporate Governance Family Firms and Economic Concentration Conference, Israel Attended by Prof Chang Sea-Jin & Prof Yupana Wiwattanakantang
9 & 10 September 2011 Chinese Indonesian Business in the 21st Century: Historical and Contemporary Dynamics, Indonesia Attended by Dr Marleen Dieleman
16 May 2011 Institutional Voids and the Governance of Developing Economies, The Netherlands Attended by Dr Marleen Dieleman
RESEARCH CONFERENCES AND GRANTS: 5
DATE TITLE CONFERENCE
12-16 August 2011 Academy of Management’s 2011 Annual Meeting, Texas Attended by Dr Shim Jung Wook
6 Jun 2011 6th Annual Conference of the Financial Intermediation Research Society, Sydney Attended by Dr Shim Jung Wook
NAME OF GRANT RECIPIENT RESEARCH TITLE
Dr Craig BROWN Corporate Market Investments: Risk and Governance
Dr HUANG Jiekun Coordination Cost, Institutional Investors and Firm Value
Dr QIAN Meijun Bank Financing and Corporate Governance
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1.1 ACADEMIC CONFERENCES ORGANISED BY CGIO 25 & 26 August 2011 | CGIO Academic Conference
The annual CGIO Academic
Conference hosted eight leading,
international academics who
presented their papers to fellow
academics present at the event. Prof
Pankaj Ghemawat, Anselmo Rubiralta
Professor of Global Strategy at IESE
Business School and renowned
author of the book – “World 3.0”, gave
a keynote presentation on the
“Differences in Ownership and
Governance around the World”. Joining him was Prof Colin Mayer, Dean of the Saïd Business School
and Peter Moores Professor of Management Studies, who spoke about addressing the next possible
governance and regulation crisis in the second keynote presentation. The academic conference,
attended by about 40 academics from local and overseas institutions, was successful in stimulating
intellectual exchanges on the theme of corporate governance and institutions.
1.2 ACADEMIC SEMINARS ORGANISED BY CGIO
23 May 2011 | The Cursed Virtue: Government Infrastructural Investment and Household
Consumption in Chinese Provinces
In this academic seminar, Professor
Yang Yao from the China Center for
Economic Research & National
School of Development, Peking
University presented a paper that he
co-authored with Professor Binkai
Chen, School of Economics, Central
University of Finance & Economics.
The paper is a study of the
relationship between government
infrastructural investment and
household consumption. The seminar was well attended by faculty members and PhD students
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13 April 2011 | The Governance of Industrial Foundations
This academic seminar was open to
the academic community outside NUS
and featured Professor Steen
Thomsen, Director, Center for
Corporate Governance at
Copenhagen Business School (CBS).
Professor Thomsen writes columns for
Danish newspapers and was
consultant and lecturer to several
large companies & government
organizations, including the EU, the
UN, Copenhagen Stock Exchange, the Danish Central Bank and the Danish Venture Capital
Association. He has also contributed to the Danish corporate governance code and other best
practice codes, Prof Thomsen presented on the topic of governance of industrial foundations. This
catalyzed a meaningful interaction among the academics as foundation-owned companies are
becoming popular with family businesses here in South East Asia.
1.3 INTERNATIONAL ACADEMIC CONFERENCES AND SEMINARS CO-ORGANISED BY CGIO
17-23 December 2011 | Corporate Governance Family Firms and Economic Concentration
Conference’
Prof Chang Sea-Jin, Executive Director of CGIO, participated in the ‘Corporate Governance Family
Firms and Economic Concentration Conference’ held in Israel, from 17 - 23 December 2011, by the
Jerusalem School of Business Administration, The Hebrew University. CGIO’s affiliated researcher
Associate Prof Yupana Wiwattanakantang also delivered a presentation ‘Are CEOs underpaid?’ at
this conference.
9 & 10 September 2011 | Chinese Indonesian Business in the 21st Century: Historical and
Contemporary Dynamics
Held at the Atma Jaya University Yogyakarta, Indonesia, this international seminar aimed to have a
better understanding of Chinese Indonesian business dynamics. The two day seminar hosted
academic experts Dr Andreas Susanto (Department of Sociology, Atma Jaya University Yogyakarta),
Dr Juliette Koning (Oxford Brookes University, United Kingdom), Dr Peter Post (NIOD Institute for
War, Holocaust and Genocide Studies, Amsterdam), and Dr Marleen Dieleman, (Centre for
Governance, Institutions and Organizations).
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16 May 2011 | Institutional Voids and the Governance of Developing Economies
This event was held at Rotterdam School of Management in The Netherlands and aimed to explore
the phenomenon of institutional voids and to locate the actors, sources of entrepreneurial agency,
nature of government-business relations, structure of social order, and wider socio-political context
conducive to new forms of governance that fill those institutional voids. The conveners for this
symposium were Prof Tak-Wing Ngo (IIAS Centre for Regulation and Governance), Dr Marleen
Dieleman, (Centre for Governance, Institutions and Organizations) and Dr Mark Greeven (Rotterdam
School of Management, Erasmus University). The event was jointly organised by CGIO, IIAS Centre
for Regulation and Governance, and the Rotterdam School of Management, Erasmus University.
1.4 RESEARCH DEVELOPMENT
Research Grants
CGIO has awarded research grants to three of our affiliated researchers to further the research in
corporate governance. The researchers were awarded the grant to carry out their research for a
period of one year, from August 2011 – July 2012. The researchers will be presenting their paper and
findings in the next CGIO Academic Conference in August 2012. More details of the grants are as
follows:
Name of Recipient Research Title
Dr Huang Jiekun Coordination Cost, Institutional Investors and Firm Value
Dr Craig Brown Corporate Market Investments: Risk and Governance
Dr Meijun Qian Bank Financing and Corporate Governance
Academic Conferences
CGIO wishes to stimulate academic exchange and send its researchers to attend leading academic
conferences. CGIO’s Research Fellow Dr Shim Jung Wook participated in the Academy of
Management’s, 2011 Annual Meeting held in Texas from 12-16 August, 2011, where he was able to
interact with academics from various universities. He also attended the 6th Annual Conference of the
Financial Intermediation Research Society, held on 6 June 2011, in Sydney.
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2. INDUSTRY OUTREACH EVENTS
CGIO regularly organises industry outreach events to provide a platform for the interaction among the
best minds in academia, government and industry. The Centre also co-organises events with industry
partners to facilitate the transfer of theoretical knowledge into best practices in corporate governance
for the real world.
To date, CGIO has organised eight events either on its own or in collaboration with other partners
such as the Singapore Exchange (SGX), BoardAgender, Singapore Institute of Directors, KPMG,
Heidrick and Struggles, etc.
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SUMMARY OF INDUSTRY OUTREACH EVENTS
INDUSTRY ROUNDTABLES ORGANISED BY CGIO: 3
DATE TITLE
26 March 2012 Political Connections – Asset or Liability?
16 November 2011 CGIO Family Business Roundtable
5 July 2011 Institutional Development and Economic Growth: A Call for an Asian Model
PRACTITIONER EVENTS CO-ORGANISED BY CGIO : 5
DATE TITLE
20 March 2012 SGX Breakfast Event Series: Board & CEO Succession Planning
17 January 2012 Forum on Practical Corporate Governance: Realities, Challenges, Independence
12 January 2012 SGX Breakfast Event Series: Board Effectiveness – Is your board world-class?
25 October 2011 Release of Singapore Board Diversity Report: A Focus on the Female Factor
3 June 2011 Seminar on “Succession of Family Business”, Kuala Lumpur
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2.1 INDUSTRY ROUNDTABLES
26 March 2012 | Roundtable – Political Connections: Asset or Liability?
Prof Michael Lemmon from the
University of Utah delivered the
keynote presentation on ‘State
Controlled Firms’ to share his insights
on political connections and the
impact on the economy. NUS
Professors David Reeb and Craig
Brown, also delivered presentations.
This was followed by a panel
discussion, where participants were
able to voice out their opinions as
well as to seek expert opinions from the panelists. About 40 participants took part in this event and
included the public, MBA Alumni and NUS faculty. The event was featured on ChannelNews Asia that
evening.
16 November 2011 | CGIO Family Business Roundtable
This roundtable aimed at discussing
the latest insights on sustaining family
businesses. Ms Caroline Seow,
Executive Director, FBN Asia led the
event with a speech, and was followed
by a presentation by Dr Marleen
Dieleman, Associate Director, CGIO
on the topic of Governance of Family
Firms in Singapore. The roundtable
also featured other experts from the
academic and business community
and included Ms Caroline Seow, Executive Director, FBN Asia, Prof Vikas Mehrotra, School of
Business, University of Alberta, Associate Prof Yupana Wiwattanakantang, NUS Business School,
Prof Lloyd Steier School of Business, University of Alberta and Prof Steen Thomsen from the
Copenhagen Business School. The roundtable was a joint effort by CGIO, FBN Asia, University of
Alberta School of Business and Copenhagen Business School and had over 50 participants.
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2.2 PRACTITIONER EVENTS CO-ORGANISED BY CGIO
20 March 2012 | Breakfast Event: Board & CEO Succession Planning
CGIO Associate Director and co-author of the Family
Business Report 2012 – Dr Marleen Dieleman, was invited
by the Singapore Exchange to present the findings from the
Centre’s study on family businesses to an audience of
company directors at the SGX auditorium. The event was
co-organised by the Australian Institute of Company
Directors (AICD), in partnership with CGIO, Singapore
Institute of Directors, as well as Heidrick and Struggles. The report findings were featured on
ChannelNewsAsia’s Singapore Business Tonight and published in several media articles the day
after the event.
17 January 2012 | Forum on Practical Corporate Governance: Realities, Challenges,
Independence
This forum on practical corporate governance saw Mr John Lim, Chairman of the Singapore Institute
of Directors deliver a presentation on the implications of the revised Singapore Code of Corporate
Governance. In lieu of the event date’s proximity to the Lunar New Year, CGIO’s affiliated researcher,
Associate Prof Lawrence Loh kept the audience engaged with a light-hearted presentation on
drawing corporate governance lessons from the steamboat.
Senior partner of Lee & Lee law corporation, Mr
Adrian Chan educated participants on the latest
landmark legal cases involving corporate
governance and director duties. The forum,
which was co-organised with NUS Business
School MBA Alumni, was a successful event
attended by over 60 participants who were
actively involved in the panel discussion
moderated by Dr Michael Teng, president of the
MBA Alumni.
12 January 2012 | Breakfast Event: Board Effectiveness - Is your board world-class?
SGX partnered CGIO, Heidrick and Struggles, BoardAgender, Singapore Institute of Directors and
KPMG to organise a breakfast event on the importance of board composition and board performance
evaluation in building a world-class board. Dr Marleen Dieleman, CGIO Associate Director delivered a
CGIO Annual Report 2011 / 2012 | Pg 19
presentation to an audience of more than 100 company directors and C-suite executives on
boardroom diversity.
The presentation was followed by a panel
discussion involving Dr Dieleman, Prof Cham
Tao Soon (Chancellor & Chairman, SIM
University and Deputy Chairman, Singapore
Press Holdings Ltd), Mr Robert Knight
(Managing Partner & CEO, Asia-Pacific, Heidrick
& Struggles), Mr Koh Kim Huat (Executive
Chairman, UPP Holdings Ltd) and Ms Ng Shin
Ein (President, Blue Ocean Associates and
Director of several listed companies). The event gained mention in a Straits Times article the
following day.
25 October 2011 | Release of Singapore Board Diversity Report: A Focus on the Female Factor
The inaugural release of the Board Diversity
Report was a collaborated effort between CGIO
and BoardAgender and studied the
representation of women in the boards of SGX
listed firms. The event received significant media
coverage and was reported in Channel News
Asia and several local newspapers including The
Straits Times and The Business Times.
Minister of State for Community Development, Youth and Sports Mdm Halimah Yacob, Dr Marleen
Dieleman Associate Director, CGIO and Ms Euleen Goh, Chairman, Singapore International
Foundation, and independent director of listed companies in Singapore and the UK shared their views
on the topic of diversity. The session was moderated by NUS Business School Associate Professor
Lan Luh Luh.
3 June 2011 | Seminar on “Succession of Family Business”, Kuala Lumpur
CGIO supported The Associated Chinese Chambers of Commerce and Industry of Malaysia
(ACCCIM) in conducting a seminar on succession of family business, hosting CGIO’s affiliated
researcher Associate Prof Yupana Wiwattanakantang, Prof Joseph P.H. Fan from the Chinese
University of Hong Kong and Prof Morten Bennedsen from INSEAD as speakers. The presentations
were followed by a panel discussion and a networking session. Over 200 participants attended the
event.
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3. APPLIED RESEARCH PROJECTS
CGIO works with industry practitioners and regulators in applied research projects to generate output
that is relevant to practice and policy-making. Through our project efforts, we aim to create and
promote best practices amongst corporations, governments and academia.
To date CGIO has undertaken four industry projects, which are as follows:
APPLIED RESEARCH PROJECTS
CORPORATE GOVERNANCE APPLIED RESEARCH PROJECTS
DESCRIPTION
Governance and Transparency Index (GTI) Published ranking of SGX-listed companies on their corporate governance practices and disclosures
Singapore Board Diversity Index and Report Female representation on SGX-listed boardrooms as part of efforts to raise awareness on importance of board diversity
Singapore Corporate Governance Awards (SCGA) Part of the Investors Choice Awards organised by the Singapore Investors Association (Singapore)
FAMILY BUSINESS APPLIED RESEARCH PROJECTS
DESCRIPTION
Family Business Report Reveals trends on corporate governance practices of family firms listed in Singapore
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3.1 GOVERNANCE AND TRANSPARENCY INDEX (GTI)
The Governance and Transparency Index (GTI) is a flagship project of CGIO and is considered one
of the major corporate governance benchmarks in Singapore. The Centre undertakes the massive
task each year of ranking all the SGX-listed companies based on their corporate governance
practices and financial transparency. This project is the result of a tripartite collaboration between
CGIO, CPA Australia and The Business Times. It is also supported by the Investment Management
Association of Singapore (IMAS). The annual index receives considerable attention from both the
media and listed companies alike. The findings from the GTI also serve as reference for public
discussion on corporate governance related issues. Over the years the GTI has reflected the quality
of corporate governance in Singapore, and this year the GTI comes at a more critical time for
companies, as they prepare themselves to improve their practices and better embrace the proposed
revisions to Singapore’s Code of Corporate Governance.
“Urging companies to make a stronger commitment to meet corporate governance standards in substance and in form, Mr Teo noted that there is much room for improvement citing the latest Governance and Transparency Index (GTI)”
Source: Business Times, 27 April 2012
Source: Business Times, 22 July 2011
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3.2 SINGAPORE BOARD DIVERSITY INDEX AND REPORT
The Singapore Board Diversity Report, authored by Dr Marleen Dieleman and Sherwin Lim, raises
awareness among the industry regarding the issue of boardroom diversity. It provides an in-depth
analysis of female directorship representation in SGX-listed companies. This report is a joint initiative
between CGIO and BoardAgender – an outreach arm of the Singapore Council of Women’s
Organisations (SCWO) Women’s Register initiative. The findings from the study received a good
amount of media coverage and figures from the report were cited in the “Catalyst: 2011 Global
Women on Boards” study under the percentages of ‘Global Board Seats Held by Women’ and ‘Global
Women Board Chairs’ for Singapore. In line with International Women’s Day on the 5th of March,
CGIO released findings on boardroom gender diversity on statutory boards which revealed that
women are better represented in the boardrooms of local statutory boards than in the boardrooms of
listed companies in Singapore.
Source: Business Times, 26 October 2011
Source: Business Times, 25 October 2011
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3.3 FAMILY BUSINESS REPORT
The Family Business Report, authored by Dr Marleen Dieleman, Associate Professor Yupana
Wiwattanakantang and Dr Shim Jungwook, is based on a study that covers firms listed on SGX and
presents detailed statistics on family firm importance, ownership structure, board structure and
director profiles, with the aim of teasing out family governance practices. This report is a joint initiative
between CGIO and Family Business Network (FBN) Asia.
Source: The StraitsTimes, 21 March 2012
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3.4 THE SINGAPORE CORPORATE GOVERNANCE AWARDS (SCGA)
The Singapore Corporate Governance Awards recognize companies that 'best meet the letter and
spirit of the Singapore Code of Corporate Governance' from investors' point of view. The awards are
part of the Investors' Choice Awards, organised by the Securities Investors Association of Singapore
(SIAS).
The companies shortlisted for consideration of the awards were provided by CGIO. Singapore-listed
companies were first scored on corporate governance practices based on their published annual
reports and related materials. Shortlisted companies were then presented to the Advisory Committee
for deliberation of the respective awards.
CGIO Annual Report 2011 / 2012 | Pg 25
92%
6%
2%
News Publications (print andonline)
Local TV News Channel
Local Radio
Type of Media (Apr 2011 - Mar 2012)
0
5
10
15
20
25
30
1st Quarter 2012 4th Quarter 2011 3rd Quarter 2011 2nd Quarter 2011
Number of Citations (Apr 2011 - Mar 2012)
Number of Citations
4. MEDIA COVERAGE
CGIO’s work and activities have gained the attention of industry practitioners, regulators, policy
makers and the media. The Centre is progressively being recognized for the work it does and the
Centre’s name has gained mention in several press articles.
CGIO Annual Report 2011 / 2012 | Pg 26
5. OUR STRATEGIC PARTNERS
The Centre partners reputable organisations in undertaking projects of interest to industry and
policymakers, as well as organising governance related events attended by senior executives. Some
of the organisations the Centre has collaborated with in its activities include: