SINGAPORE – Listed companies in Singapore must overcome a culture of reluctance to disclose the pay packages of their top executives, as this will help them build accountability with shareholders and elevate local corporate governance standards to attract more investors.
Experts said companies should, by now, have a strategy to manage any fallout from disclosing the exact remuneration paid to their directors and chief executives ahead of a Singapore Exchange (SGX) listing rule requiring all public companies to do so by 2024.
The disclosure must include base or fixed salary, variable or performance-related income or bonuses, benefits in kind, stock options, incentives and awards, as well as other long-term incentives.
This comes on the back of data released in a Singapore Institute of Directors report last Wednesday showing that around two-thirds of companies polled still do…
