The Governance and Transparency Index (GTI) is jointly launched by The Business Times (BT) and the Centre for Governance, Institutions and Organizations(formerly CGFRC). The GTI, which is sponsored by CPA Australia and supported by the Investment Management Association of Singapore, will replace the Corporate Transparency Index (CTI), which assessed the financial transparency of companies based on their annual announcements and which had been published by BT since 2000.
The index is divided into two broad sections: governance and transparency (including investor relations) with the maximum points for each section being 75 and 25 respectively.
The governance section covers the following items:
Board Matters
Remuneration Matters
Accountability and Audit
The transparency section focuses on how companies communicate with their shareholders.
In addition, the index includes a "bonus and penalty" system where companies which go beyond the requirements of the code (e.g., by including limits on directorships held by the their directors) will be awarded additional points while negative events (e.g., directors or management resigning and raising corporate governance concerns) will lead to a deduction in the company's GTI score.
To advise the Centre for Governance, Institutions and Organizations(formerly CGFRC) on the index methodology, an advisory panel has been established comprising of one representative each from BT and CPA Australia and prominent personalities in the corporate sector. The members of the advisory panel are:
- Mr Ang Hao Yao, Director, Trader Investment Pte Ltd
- Mr Andrew Kwek, Chief Executive Officer, Institutional Sales SE Asia, Deutsche Asset Management (Asia) Limited
- Mrs Lee Suet Fern, Senior Director, Stamford Law Corporation
- Mr Loh Hoon Sun, Managing Director, Phillip Securities Pte Ltd
- Mr Chaly Mah, Chief Executive Officer, Deloitte Asia Pacific
- Mr Alvin Tay, Editor, The Business Times
Click here to view the GTI methodology and scorecard
Click here to view the terms of reference of the advisory panel
Click here to download the self-assessment checklist.
(Note: The checklist comprises of two worksheets, Data and Score. The Score worksheet will automatically calculate the company's base GTI score when information is entered into the Data worksheet.)
Issue 5 Scores
Companies covered: Annual reports released between 1 January 2011 - 31 December 2011
Click here to view the Issue 5 (May 2012) scores. Kindly note that the companies are listed in alphabetical order.
Click here to view the Issue 5 (May 2012) scores. Kindly note that the companies are listed according to their ranking.
Click here to view media articles
Click here to view Professor Lawrence Loh's presentation on the GTI at CPA Forum 2012
Issue 4 Scores
Companies covered: Annual reports released between 1 January 2010 - 31 December 2010
Click here to view the Issue 4 (July 2011) scores. Kindly note that the companies are listed in alphabetical order.
Click here to view media articles
Click here to view Professor Lawrence Loh's presentation on the GTI at CPA Forum 2011
Issue 3 Scores
Companies covered: Annual reports released between 1 January 2009 - 31 December 2009
Click here to view the Issue 3 (April 2010) scores. Kindly note that the companies are listed in alphabetical order.
Click here to view media articles
Click here to view Professor Mak Yuen Teen's presentation on the GTI at CPA Forum 2010
Issue 2 Scores
Companies covered: Annual reports released between 1 January 2009 - 30 June 2009
Changes made to the scorecard:
1. Definition of independence to include independence from major shareholders (Bonus): + 3 points
2. Breach of listing rules (Penalty): - 3 points.
The points will not be deducted if the company has already being penalised under a different penalty item (e.g., late announcement of stock option grants
Click here to view the Issue 2 scores
Click here to view the accompanying article
Click here to view other media articles
Issue 1 Scores
Companies covered: Annual reports released between 1 January 2008 - 31 December 2008
Click here to view Associate Professor Mak Yuen Teen's presentation on the GTI at CPA Forum 2009
Click here to view media article
Click here to view the GTI results
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