SINGAPORE: MAS Revised the Code of Corporate Governance

Thursday January 12 2023

On 11^th January 2023, the Monetary Authority of Singapore (MAS) introduced amendments to the Code of Corporate Governance (Code), to reflect SGX RegCo’s Listing Rule changes.

These revisions to the Code and Listing Rules are in line with the recommendations made by the Corporate Governance Advisory Committee (CGAC) on 13^th September 2022, which were in response to the review of SGX-listed companies’ corporate governance disclosures released by SGX RegCo on the same day

MAS will amend the Notice to All Holders of a Capital Markets Services Licence for Real Estate Investment Trust Management (REIT Managers) to reflect the change in remuneration disclosure requirements for directors and CEOs of REIT Managers to mandatory from comply or explain. The amendments will take effect on 1^st January 2025, in alignment with the implementation of the SGX Listing Rules requirement.

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