|Since this was the reason for the change, does it make much of a difference when an independent director is redesignated as a non- independent director?
In a sense, when there is a conflict of interest, it continues to exist regardless of whether one is an independent director or a non-independent one.
A conflict of interest does not disappear or become diminished just by a redesignation from an independent director to a non-independent director.
As a market regulator, SGX should be the leading light for corporate governance standards in Singapore.
The Exchange may be sending the wrong message to companies with regard to corporate governance on how – or rather how not – to address conflict of interest issues when they are raised.
Leong Sze Hian