(March 23): Singapore-listed companies are replete with executive directors that are either substantial shareholders or related to them, and firms aren’t disclosing enough about how pay is decided. About three in four executive directors are substantial shareholders or are family members, according to a study released on Monday by the National University of Singapore (NUS) Business School’s Centre for Investor Protection. “There remains a lack of transparency on remuneration paid to key management personnel and employees who are related to substantial shareholders, directors and CEOs,” Mak said. Non-independent directors typically increase the risk of executive pay inflation due to greater control over remuneration committees or appointment of independent directors. It also asked for Singapore’s corporate governance code to boost requirements for transparency around pay disclosures, remuneration determination policies for directors, and make it clear how they are linked to performance.

Source: The Edge Markets March 23, 2026 06:45 UTC