MAS proposes measures to improve corporate governance framework

The Monetary Authority of Singapore has proposed measures to improve corporate governance at local banks and insurers. Associate Professor Annie Koh who is Associate Dean of SMU's Lee Kong Chian School of Business lauded the proposal is to raise the number of independent directors on the board, nominating committee, and remuneration committee from the current one-third to a majority. She added that there is also a need to equip directors with the right competencies.