In the study jointly conducted by The Business Times and the Corporate Governance and Financial Reporting Centre (CGFRC) at NUS, the 2009 Governance and Transparency Index show SingTel retaining the top spot out of 687 companies surveyed. At the same time, a corporate governance study by Assoc Prof Jeremy Goh of the Sim Kee Boon Institute for Financial Economics at SMU has found that those who top this list include SingTel, Keppel Corp, OUB and Cerebos Pacific.