singapore corporate governance awards …main... · of audit committee and remuneration policies....

15
SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 Since the inception of the Singapore Corporate Governance Awards (SCGA), the winners have been chosen through a two-stage process. In the first stage, the corporate governance practices disclosed in the annual reports of companies are assessed against a scorecard which contains 114 questions. Each question carries one point, with the exception of the question on CEO-chairman separation, which carries a maximum of two points. Hence a company can score a maximum of 115 points in the first stage. It should be emphasised that companies are given points only for unambiguous disclosures. The scores are generally unweighted (although for some items, such as proportion of IDs, more points are given for higher standards), and they reflect what companies have disclosed in their annual report and therefore largely capture corporate governance disclosures as opposed to actual corporate governance practices. The committee views adequate disclosure of corporate governance structures and practices to be important from the investors' perspective, but recognises that disclosure is only a necessary but not a sufficient condition for high corporate governance standards. The scores are used solely for the purpose of shortlisting companies for consideration by the judging panel in the second stage, which involves a deeper assessment of key items such as tenure of independent directors, interlocking directorships, multiple directorships, expertise of audit committee and remuneration policies. The committee discusses each shortlisted company and chooses winners based on inputs from members who come from the 10 supporting organisations, with each organisation having one vote. The scores were published by bands to enable companies to determine their standing among other listed companies in terms of their corporate governance disclosures. (The SCGA scorecard can be downloaded from www.cgfrc.nus.edu.sg or www.sias.org.sg)

Upload: duongminh

Post on 19-Jul-2018

214 views

Category:

Documents


0 download

TRANSCRIPT

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 Since the inception of the Singapore Corporate Governance Awards (SCGA), the winners have been chosen through a two-stage process. In the first stage, the corporate governance practices disclosed in the annual reports of companies are assessed against a scorecard which contains 114 questions. Each question carries one point, with the exception of the question on CEO-chairman separation, which carries a maximum of two points. Hence a company can score a maximum of 115 points in the first stage. It should be emphasised that companies are given points only for unambiguous disclosures. The scores are generally unweighted (although for some items, such as proportion of IDs, more points are given for higher standards), and they reflect what companies have disclosed in their annual report and therefore largely capture corporate governance disclosures as opposed to actual corporate governance practices. The committee views adequate disclosure of corporate governance structures and practices to be important from the investors' perspective, but recognises that disclosure is only a necessary but not a sufficient condition for high corporate governance standards. The scores are used solely for the purpose of shortlisting companies for consideration by the judging panel in the second stage, which involves a deeper assessment of key items such as tenure of independent directors, interlocking directorships, multiple directorships, expertise of audit committee and remuneration policies. The committee discusses each shortlisted company and chooses winners based on inputs from members who come from the 10 supporting organisations, with each organisation having one vote. The scores were published by bands to enable companies to determine their standing among other listed companies in terms of their corporate governance disclosures. (The SCGA scorecard can be downloaded from www.cgfrc.nus.edu.sg or www.sias.org.sg)

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

Name Year End Band AURIC PACIFIC GROUP LIMITED 31-Dec-07 1 BANYAN TREE HOLDINGS LIMITED 31-Dec-07 1 CAPITALAND LIMITED 31-Dec-07 1 COMFORTDELGRO CORPORATION LTD 31-Dec-07 1 CSE GLOBAL LTD 31-Dec-07 1 DEL MONTE PACIFIC LIMITED 31-Dec-07 1 DELONG HOLDINGS LIMITED 31-Dec-07 1 EAGLE BRAND HOLDINGS LTD 31-Dec-07 1 FRASER AND NEAVE, LIMITED 30-Sep-07 1 GREAT EASTERN HLDGS LTD 31-Dec-07 1 GUL TECHNOLOGIES SINGAPORE LTD 31-Dec-07 1 HIAP HOE LIMITED 31-Dec-07 1 HL GLOBAL ENTERPRISES LIMITED 31-Dec-07 1 HONG LEONG ASIA LTD. 31-Dec-07 1 HONG LEONG FINANCE LIMITED 31-Dec-07 1 KEPPEL CORPORATION LIMITED 31-Dec-07 1 KEPPEL LAND LIMITED 31-Dec-07 1 KEPPEL TELE & TRAN 31-Dec-07 1 K-REIT ASIA 31-Dec-07 1 MACQUARIE INT'L INFRA FUND LTD 31-Dec-07 1 MIDSOUTH HOLDINGS LTD 31-Dec-07 1 OVERSEA-CHINESE BANKING CORP 31-Dec-07 1 QIAN HU CORPORATION LIMITED 31-Dec-07 1 ROWSLEY LTD. 31-Mar-08 1 SBS TRANSIT LTD 31-Dec-07 1 SEMBCORP INDUSTRIES LTD 31-Dec-07 1 SEMBCORP MARINE LTD 31-Dec-07 1 SINGAPORE AIRPORT TRML SVCSLTD 31-Mar-08 1 SINGAPORE EXCHANGE LIMITED 30-Jun-07 1 SINGAPORE FOOD INDUSTRIES LTD 31-Dec-07 1 SINGAPORE LAND LIMITED 31-Dec-07 1 SINGAPORE PETROLEUM CO LTD 31-Dec-07 1 SINGAPORE POST LIMITED 31-Mar-08 1 SINGAPORE PRESS HLDGS LTD 31-Aug-07 1 SINGAPORE REINSURANCE COR LTD 31-Dec-07 1 SINGTEL 31-Mar-08 1 SINO-ENVIRONMENT TECH GRP LTD 31-Dec-07 1 SINOPIPE HOLDINGS LIMITED 31-Dec-07 1 SMRT CORPORATION LTD 31-Mar-08 1 SOILBUILD GROUP HOLDINGS LTD 31-Dec-07 1 SP CHEMICALS LTD 31-Dec-07 1 STARHUB LTD 31-Dec-07 1 STRAITS TRADING CO. LTD 31-Dec-07 1

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

SUNPOWER GROUP LTD. 31-Dec-07 1 SWISSCO INTERNATIONAL LIMITED 31-Dec-07 1 UNITED ENGINEERS LTD ORD 31-Dec-07 1 UNITED FOOD HOLDINGS LIMITED 31-Dec-07 1 UNITED INDUSTRIAL CORP LTD 31-Dec-07 1 WBL CORPORATION LIMITED 30-Sep-07 1 YELLOW PAGES(SINGAPORE)LIMITED 31-Mar-08 1 ADVANCE MODULES GROUP LIMITED 31-Dec-07 2 AEI CORPORATION LTD 31-Dec-07 2 AEM HOLDINGS LTD 31-Dec-07 2 ALLIED TECHNOLOGIES LIMITED 31-Dec-07 2 ARA ASSET MANAGEMENT LIMITED 31-Dec-07 2 ASL MARINE HOLDINGS LTD 30-Jun-07 2 BEAUTY CHINA HOLDINGS LIMITED 31-Dec-07 2 BENG KUANG MARINE LIMITED 31-Dec-07 2 BEYONICSTECHNOLOGY LIMITED 31-Jul-07 2 BH GLOBAL MARINE LIMITED 31-Dec-07 2 CEREBOS PACIFIC LIMITED 30-Sep-07 2

CHINA AVIATION OIL(S) CORP LTD 31-Dec-07

2 CHINA HONGXING SPORTS LIMITED 31-Dec-07 2 CHINA LIFESTYLE F&B GROUP LTD 31-Dec-07 2 CHINA SKY CHEM FIBRE CO., LTD. 31-Dec-07 2 CHIP ENG SENG CORPORATION LTD 31-Dec-07 2 CHOSEN HOLDINGS LIMITED 30-Jun-07 2 CITY DEVELOPMENTS LIMITED 31-Dec-07 2 CITYNEON HOLDINGS LIMITED 31-Dec-07 2 COSCO CORPORATION (S) LTD 31-Dec-07 2 COURTS SINGAPORE LIMITED 31-Mar-08 2 CWT LIMITED 31-Dec-07 2 DATACRAFT ASIA LTD 30-Sep-07 2 FABCHEM CHINA LIMITED 31-Mar-08 2 FU YU CORPORATION LTD 31-Dec-07 2 FURAMA LTD. 31-Dec-07 2 HAW PAR CORP LTD 31-Dec-07 2 HEETON HOLDINGS LIMITED 31-Dec-07 2 HONGGUO INTL HOLDINGS LIMITED 31-Dec-07 2 HOTEL PLAZA LTD 31-Dec-07 2 HTL INT'L HOLDINGS LIMITED 31-Dec-07 2 IFS CAPITAL LIMITED 31-Dec-07 2 INFORMATICS EDUCATION LTD. 31-Mar-08 2 INNO-PACIFIC HOLDINGS LTD 31-Dec-07 2 INNOTEK LIMITED 31-Dec-07 2 INNOVALUES LIMITED 31-Dec-07 2 JUKEN TECHNOLOGY LIMITED 31-Dec-07 2

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

LEEDEN LIMITED 31-Dec-07 2 LION ASIAPAC LTD 30-Jun-07 2 MATEX INTERNATIONAL LIMITED 31-Dec-07 2 MDR LIMITED 31-Dec-07 2 MOBILEONE LTD 31-Dec-07 2 NOBLE GROUP LIMITED 31-Dec-07 2 OLAM INTERNATIONAL LIMITED 30-Jun-07 2 OUHUA ENERGY HOLDINGS LIMITED 31-Dec-07 2 PAN-UNITED CORPORATION LTD 31-Dec-07 2 PARKWAY HLDGS LTD 31-Dec-07 2 SIA ENGINEERING CO LTD 31-Mar-08 2 SING HOLDINGS LIMITED 31-Dec-07 2 SINGAPORE AIRLINES LTD 31-Mar-08 2 SINO TECHFIBRE LIMITED 31-Dec-07 2 SKY CHINA PETROLEUM SVCS LTD. 31-Dec-07 2 SP CORPORATION LIMITED 31-Dec-07 2 STRAITS ASIA RESOURCES LIMITED 31-Dec-07 2 SUPERBOWL HOLDINGS LIMITED 31-Dec-07 2 SUPERIOR MULTI-PACKAGING LTD 31-Dec-07 2 TELECHOICE INTERNATIONAL LTD 31-Dec-07 2 THAKRAL CORPORATION LTD 31-Dec-07 2 TREK 2000 INT'L LTD 31-Dec-07 2 TUAN SING HOLDINGS LIMITED 31-Dec-07 2 UMS HOLDINGS LIMITED 31-Dec-07 2 UNISTEEL TECHNOLOGY LTD 31-Dec-07 2 UNITED FIBER SYSTEM LIMITED 31-Dec-07 2 UOL GROUP LIMITED 31-Dec-07 2 VICOM LTD 31-Dec-07 2 WHEELOCK PROPERTIES (S) LTD 31-Dec-07 2 ADROIT INNOVATIONS LIMITED 31-Dec-07 3 ADVANCE SCT LIMITED 31-Dec-07 3 APEX-PAL INTERNATIONAL LTD 31-Dec-07 3 AQUA-TERRA SUPPLY CO. LIMITED 31-Dec-07 3 ASIA PACIFIC BREWERIES LTD 30-Sep-07 3 ASJ HOLDINGS LTD 31-Dec-07 3 ASTI HOLDINGS LIMITED 31-Dec-07 3 AUSGROUP LIMITED 30-Jun-07 3 AZTECH SYSTEMS LTD 31-Dec-07 3 BERGER INTERNATIONAL LIMITED 31-Dec-07 3 BRIGHT WORLD PRECISION MAC LTD 31-Dec-07 3 BROTHERS (HOLDINGS) LIMITED 31-Dec-07 3 CDW HOLDING LIMITED 31-Dec-07 3 CEI CONTRACT MANUFACTURING LTD 31-Dec-07 3 CHINA FISHERY GROUP LIMITED 31-Dec-07 3

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

CHINA INFRASTRUCTURE HLDGS LTD 31-Dec-07 3 CHINA NEW TOWN DEVT CO LIMITED 31-Dec-07 3 CHINA OILFIELD TEC SVCS GRPLTD 31-Dec-07 3 CHINA SPORTS INTL LIMITED 31-Dec-07 3 CHUAN HUP HOLDINGS LIMITED 30-Jun-07 3 CITYSPRING INFRASTRUCT TRUST 31-Mar-08 3 CNA GROUP LTD. 31-Dec-07 3 CREATIVE MASTER BERMUDA LTD 31-Dec-07 3 DATAPULSE TECHNOLOGY LIMITED 31-Jul-07 3 DBS GROUP HOLDINGS LTD 31-Dec-07 3 DEVOTION ENERGY GROUP LIMITED 31-Dec-07 3 DRAGON GROUP INTL LIMITED 31-Dec-07 3 DUTECH HOLDINGS LIMITED 31-Dec-07 3 EASTERN ASIA TECHNOLOGY LTD 31-Dec-07 3 ELEC & ELTEK INT CO LTD 31-Dec-07 3 ELECTROTECH INVESTMENTS LTD 31-Dec-07 3 EU YAN SANG INTERNATIONAL LTD 30-Jun-07 3 EUROPTRONIC GROUP LTD 31-Dec-07 3 EVERGRO PROPERTIES LIMITED 31-Dec-07 3 EZRA HOLDINGS LIMITED 31-Aug-07 3 G. K. GOH HOLDINGS LIMITED 31-Dec-07 3 GP BATTERIES INT LTD 31-Mar-08 3 GP INDUSTRIES LIMITED 31-Mar-08 3 GUANGZHAO IND FOREST BIOGRPLTD 31-Dec-07 3 HENGXIN TECHNOLOGY LTD. 31-Dec-07 3 HLN TECHNOLOGIES LIMITED 31-Dec-07 3 HOTEL ROYAL LTD 31-Dec-07 3 IDT HOLDINGS (SINGAPORE) LTD 31-Mar-08 3 ISETAN (SINGAPORE) LTD 31-Dec-07 3 JADASON ENTERPRISES LTD 31-Dec-07 3 KIAN ANN ENGINEERING LTD 30-Jun-07 3 KIAN HO BEARINGS LTD 31-Dec-07 3 KIM ENG HOLDINGS LIMITED 31-Dec-07 3 KOH BROTHERS GROUP LIMITED 31-Dec-07 3 LEE METAL GROUP LTD 31-Dec-07 3 LIAN BENG GROUP LTD 31-May-07 3 LIZHONG WHEEL GROUP LTD. 31-Dec-07 3 LONGCHEER HOLDINGS LIMITED 30-Jun-07 3 LOW KENG HUAT (SINGAPORE) LTD 31-Jan-08 3 MEDIARING LTD 31-Dec-07 3 MEIBAN GROUP LTD 31-Dec-07 3 MFG INTEGRATION TECHNOLOGY LTD 31-Dec-07 3 OVERSEAS UNION ENTERPRISE LTD 31-Dec-07 3 PHARMESIS INTERNATIONAL LTD. 31-Dec-07 3

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

PINE AGRITECH LIMITED 31-Dec-07 3 RICHLAND GROUP LIMITED 31-Dec-07 3 SINGAPORE COMPUTER SYSTEMS LTD 31-Dec-07 3 SNP CORPORATION LTD 31-Dec-07 3 SSH CORPORATION LTD. 30-Jun-07 3 STAR PHARMACEUTICAL LIMITED 31-Dec-07 3 SUNVIC CHEMICAL HOLDINGS LTD 31-Dec-07 3 SUPER COFFEEMIX MANUFACTURING 31-Dec-07 3 TAT HONG HOLDINGS LTD 31-Mar-08 3 TRI-M TECHNOLOGIES (S) LTD 31-Dec-07 3 TYE SOON LTD 31-Dec-07 3 UNIFIED COMMUNICATIONS HLDGLTD 31-Dec-07 3 XPRESS HOLDINGS LTD 31-Jul-07 3 YOMA STRATEGIC HOLDINGS LTD 31-Mar-08 3 ADVANCED HOLDINGS LTD. 31-Dec-07 4 ALLGREEN PROPERTIES LTD 31-Dec-07 4 ASA GROUP HOLDINGS LTD 31-Dec-07 4 ASIA DEKOR HOLDINGS LIMITED 31-Mar-08 4 ASIA ENVIRONMENT HOLDINGS LTD 31-Dec-07 4 ASIA POWER CORP LTD 31-Dec-07 4 ASIAPHARM GROUP LTD 31-Dec-07 4 BEST WORLD INTERNATIONAL LTD 31-Dec-07 4 C K TANG LTD 31-Mar-08 4 CELESTIAL NUTRIFOODS LIMITED 31-Dec-07 4 CH OFFSHORE LTD 30-Jun-07 4 CHALLENGER TECHNOLOGIES LTD 31-Dec-07 4 CHINA PRECISION TECHNOLOGY LTD 31-Dec-07 4 CHINA SUN BIOCHEM TECH GP CO. 31-Dec-07 4 CHINA SUNSINE CHEM HLDGS LTD. 31-Dec-07 4 CHT (HOLDINGS) LTD. 31-Dec-07 4 COSMOSTEEL HOLDINGS LIMITED 30-Sep-07 4 CSC HOLDINGS LTD 31-Mar-08 4 DMX TECHNOLOGIES GROUP LTD 31-Dec-07 4 ECOWISE HOLDINGS LIMITED 31-Oct-07 4 ELLIPSIZ LTD 30-Jun-07 4 ENVIRO-HUB HOLDINGS LTD 31-Dec-07 4 EUCON HOLDING LIMITED 31-Dec-07 4 FEDERAL INT(2000) LTD 31-Dec-07 4 FIRSTLINK INV CORP LTD 31-Dec-07 4 FISCHER TECH LTD 31-Mar-08 4 FOOD EMPIRE HOLDINGS LIMITED 31-Dec-07 4 GUOCOLAND LIMITED 30-Jun-07 4 HI-P INTERNATIONAL LIMITED 31-Dec-07 4 HO BEE INVESTMENT LIMITED 31-Dec-07 4

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

HWA HONG CORPORATION LIMITED 31-Dec-07 4 ISDN HOLDINGS LIMITED 31-Dec-07 4 JASPER INVESTMENTS LIMITED 31-Mar-08 4 JURONG TECH IND CORP LTD 31-Dec-07 4 KXD DIGITAL ENTERTAINMENT LTD 31-Dec-07 4 L.C.DEVELOPMENT LTD 30-Jun-07 4 LEE KIM TAH HLDGS LIMITED 31-Dec-07 4 LOTTVISION LIMITED 31-Mar-08 4 LUZHOU BIO-CHEM TECHNOLOGY LTD 31-Dec-07 4 MANHATTAN RESOURCES LIMITED 31-Dec-07 4 MCL LAND LIMITED 31-Dec-07 4 MFS TECHNOLOGY LTD 30-Sep-07 4 MULTI-CHEM LIMITED 31-Dec-07 4 PACIFIC CENTURY REGIONAL DEVTS 31-Dec-07 4 REYOUNG PHARM HOLDINGS LIMITED 31-Dec-07 4 RSH LIMITED 31-Mar-08 4 SIM LIAN GROUP LIMITED 30-Jun-07 4 SINGAPORE TECH ENGINEERING LTD 31-Dec-07 4 SINOBEST TECHNOLOGY HLDGS LTD. 31-Dec-07 4 SINOMEM TECHNOLOGY LIMITED 31-Dec-07 4 SINOSTAR PEC HOLDINGS LIMITED 31-Dec-07 4 SM SUMMIT HOLDINGS LTD 31-Dec-07 4 SPINDEX INDUSTRIES LIMITED 30-Jun-07 4 SUNNINGDALE TECH LTD 31-Dec-07 4 SUNSHINE HOLDINGS LIMITED 31-Dec-07 4 SWIBER HOLDINGS LIMITED 31-Dec-07 4 TAI SIN ELECTRIC LIMITED 30-Jun-07 4 TECKWAH INDUSTRIAL CORP LTD 31-Dec-07 4 THOMSON MEDICAL CENTRE LIMITED 31-Aug-07 4 TIONG WOON CORP HOLDING LTD 30-Jun-07 4 ULTRO TECHNOLOGIES LIMITED 30-Jun-07 4 UNITED PULP & PAPER CO. LTD 31-Dec-07 4 VENTURE CORPORATION LIMITED 31-Dec-07 4 YEO HIAP SENG LTD 31-Dec-07 4 ANNAIK LIMITED 31-Dec-07 5 BONVESTS HOLDINGS LTD 31-Dec-07 5 C&G INDUSTRIAL HOLDINGS LTD 31-Dec-07 5 CACOLA FURNITURE INTL LIMITED 31-Dec-07 5 CHINA FLEXIBLE PACK HLDG LTD 31-Oct-07 5 CHINA KANGDA FOOD COMPANY LTD 31-Dec-07 5 CHINA MERCHANTS HLDGS(PACIFIC) 31-Dec-07 5 CHINA PAPER HOLDINGS LIMITED 31-Dec-07 5 DARCO WATER TECHNOLOGIES LTD 31-Dec-07 5 DESIGN STUDIO FURNITURE MFRLTD 31-Dec-07 5

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

EPURE INTERNATIONAL LTD. 31-Dec-07 5 ETLA LIMITED 31-Dec-07 5 EXCELPOINT TECHNOLOGY LTD 31-Dec-07 5 F J BENJAMIN HOLDINGS LTD 30-Jun-07 5 FIBRECHEM TECHNOLOGIES LIMITED 31-Dec-07 5 FULL APEX (HOLDINGS) LIMITED 31-Dec-07 5 GLOBAL TESTING CORPORATION LTD 31-Dec-07 5 GUTHRIE GTS LTD 31-Dec-07 5 HUPSTEEL LTD 30-Jun-07 5 INTER-ROLLER ENGINEERING LTD 31-Dec-07 5 INTRACO LIMITED 31-Dec-07 5 JARDINE CYCLE & CARRIAGE LTD 31-Dec-07 5 KINGBOARD COPPER FOIL HDGS LTD 31-Dec-07 5 KING'S SAFETYWEAR LIMITED 31-Dec-07 5 KS ENERGY SERVICES LIMITED 31-Dec-07 5 MAP TECHNOLOGY HLDGS LIMITED 31-Dec-07 5 MEMTECH INTERNATIONAL LTD 31-Dec-07 5 METRO HOLDINGS LIMITED 31-Mar-08 5 MIDAS HLDGS LIMITED 31-Dec-07 5 MIYOSHI PRECISION LIMITED 31-Aug-07 5 PCA TECHNOLOGY LIMITED 28-Feb-08 5 POPULAR HOLDINGS LIMITED 30-Apr-08 5 PSC CORPORATION LTD 31-Dec-07 5 SAN TEH LIMITED 31-Dec-07 5 SING LUN HOLDINGS LIMITED 31-Dec-07 5 SINWA LIMITED 31-Dec-07 5 SOUTHERN PACKAGING GROUP LTD 31-Dec-07 5 SUN EAST GROUP LIMITED 30-Jun-07 5 SUNRAY HOLDINGS LIMITED 31-Mar-08 5 SYNEAR FOOD HOLDINGS LIMITED 31-Dec-07 5 TAT SENG PACKAGING GROUP LTD 31-Dec-07 5 TELEDATA (SINGAPORE) LTD 31-Dec-07 5 TEXCHEM-PACK HOLDINGS (S) LTD. 31-Dec-07 5 TIME WATCH INVESTMENTS LIMITED 30-Jun-07 5 UNIONMET (SINGAPORE) LIMITED 30-Nov-07 5 VALUETRONICS HOLDINGS LIMITED 31-Mar-08 5 YOUCAN FOODS INTERNATIONAL LTD 31-Dec-07 5 1ST SOFTWARE 31-Dec-07 6 ACHIEVA LIMITED 31-Dec-07 6 AGVA CORPORATION LIMITED 31-Dec-07 6 ASIA FOOD & PROPERTIES LTD 31-Dec-07 6 ASIA TIGER GROUP LIMITED 31-Mar-08 6 BIO-TREAT TECHNOLOGY LIMITED 30-Jun-07 6 BOARDROOM LIMITED 30-Jun-07 6

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

CHINA ANGEL FOOD LIMITED 31-Dec-07 6 CHINA BEARING (SINGAPORE) LTD. 31-Dec-07 6 CHINA FARM EQUIPMENT LIMITED 31-Dec-07 6 CHINA HAIDA LTD. 31-Dec-07 6 CHINA MILK PRODUCTS GROUP LTD 31-Mar-08 6 CHINA PRINT POWER GROUP LTD 31-Dec-07 6 CHINA XLX FERTILISER LTD. 31-Dec-07 6 CHUAN SOON HUAT INDUSTRIAL GP 31-Dec-07 6 EDMI LIMITED 31-Dec-07 6 FINANCIAL ONE CORP. 31-Dec-07 6 FORELAND FABRICTECH HLDS LTD 31-Dec-07 6 GENERAL MAGNETICS LTD 31-Dec-07 6 GOODPACK LIMITED 30-Jun-07 6 HUAN HSIN HOLDINGS LTD 31-Dec-07 6 JAPAN LAND LIMITED 31-Mar-08 6 JETS TECHNICS INTL HLDGS LTD 31-May-07 6 KING WAN CORPORATION LIMITED 31-Mar-08 6 LHT HOLDINGS LIMITED 31-Dec-07 6 LUM CHANG HOLDINGS LIMITED 30-Jun-07 6 NERATELECOMMUNICATIONS LTD 31-Dec-07 6 OCEAN SKY INTERNATIONAL LTD 31-Dec-07 6 PACIFIC ANDES (HOLDINGS) LTD 31-Mar-08 6 PACIFIC HEALTHCARE HLDGS LTD 31-Dec-07 6 POKKA CORPORATION (S) LIMITED 31-Jan-08 6 QAF LTD 31-Dec-07 6 RAFFLES EDUCATION CORP LIMITED 30-Jun-07 6 RICKMERS MARITIME 31-Dec-07 6 ROTOL SINGAPORE LIMITED 31-Mar-08 6 SARIN TECHNOLOGIES LTD 31-Dec-07 6 SC GLOBAL DEVELOPMENTS LTD 31-Dec-07 6 SHANGHAI ASIA HOLDINGS LIMITED 31-Dec-07 6 SHANGHAI TURBO ENTERPRISES LTD 31-Dec-07 6 SIHUAN PHARMA HLDGS GROUP LTD. 31-Dec-07 6 SINGAPURA FINANCE LTD 30-Jun-07 6 SMB UNITED LIMITED 31-Dec-07 6 TECHNICS OIL & GAS LIMITED 30-Sep-07 6 TSIT WING INTL HOLDINGS LTD 31-Dec-07 6 TT INTERNATIONAL LIMITED 31-Mar-08 6 UNITED OVERSEAS BANK LTD 31-Dec-07 6 WING TAI HLDGS LTD 30-Jun-07 6 YHI INTERNATIONAL LIMITED 31-Dec-07 6 ZHONGHUI HOLDINGS LTD. 31-Dec-07 6 ABTERRA LTD 30-Jun-07 7 ADV INTEGRATED MFG CORP LTD 31-Dec-07 7

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

ALLCO COMMERCIAL REIT 31-Dec-07 7 AMARA HOLDINGS LTD 31-Dec-07 7 ASIA ENTERPRISES HOLDING LTD 31-Dec-07 7 AZEUS SYSTEMS HOLDINGS LTD. 31-Mar-08 7 BIOSENSORS INT'L GROUP, LTD. 31-Mar-08 7 BUKIT SEMBAWANG ESTATES LTD 31-Mar-08 7 CAPITAMALL TRUST 31-Dec-07 7 CAPITARETAIL CHINA TRUST 31-Dec-07 7 CASA HOLDINGS LIMITED 30-Sep-07 7 CHINA PETROTECH HOLDINGS LTD 31-Dec-07 7 CHUNGHONG HOLDINGS LIMITED 31-Dec-07 7 CMZ HOLDINGS LTD. 31-Mar-08 7 ENG KONG HOLDINGS LIMITED 31-Dec-07 7 ENGRO CORPORATION LIMITED 31-Dec-07 7 ENPORIS GREENZ LIMITED 31-Dec-07 7 FDS NETWORKS GROUP LTD 31-Dec-07 7 FERROCHINA LIMITED 31-Dec-07 7 FRASERS CENTREPOINT TRUST 30-Sep-07 7 GALLANT VENTURE LTD. 31-Dec-07 7 GOLDEN AGRI-RESOURCES LTD 31-Dec-07 7 GRAND BANKS YACHTS LIMITED 31-Mar-08 7 HEALTH MANAGEMENT INTL LTD 30-Jun-07 7 HERSING CORPORATION LTD 31-Dec-07 7 HG METAL MANUFACTURING LTD 30-Sep-07 7 HIAP SENG ENGINEERING LTD 31-Mar-08 7 HOE LEONG CORPORATION LTD. 31-Dec-07 7 HOTEL PROPERTIES LTD 31-Dec-07 7 HSU FU CHI INTERNATIONAL LTD 30-Jun-07 7 HYFLUX LTD 31-Dec-07 7 IPC CORPORATION LIMITED 31-Dec-07 7 K1 VENTURES LIMITED 30-Jun-07 7 KARIN TECHNOLOGY HLDGS LIMITED 30-Jun-07 7 KODA LTD 30-Jun-07 7 LION TECK CHIANG LTD 30-Jun-07 7 LMA INTERNATIONAL N.V. 31-Dec-07 7 MACARTHURCOOK INDUSTRIAL REIT 31-Mar-08 7 MAVERIC LTD. 30-Jun-07 7 MEMORY DEVICES LIMITED 31-Dec-07 7 MTQ CORPORATION LIMITED 31-Mar-08 7 ORCHARD PARADE HOLDINGS LTD 31-Dec-07 7 OSIM INTERNATIONAL LTD 31-Dec-07 7 PENGUIN INTERNATIONAL LIMITED 31-Dec-07 7 PEOPLE'S FOOD HOLDINGS LIMITED 31-Dec-07 7 PETRA FOODS LIMITED 31-Dec-07 7

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

RADIANCE ELECTRONICS LIMITED 30-Jun-07 7 RAFFLES MEDICAL GROUP LTD 31-Dec-07 7 RIVERSTONE HOLDINGS LIMITED 31-Dec-07 7 ROTARY ENGINEERING LIMITED 31-Dec-07 7 SAMUDERA SHIPPING LINE LTD 31-Dec-07 7 SECOND CHANCE PROPERTIES LTD 30-Jun-07 7 SIN GHEE HUAT CORPORATION LTD. 30-Jun-07 7 SINGAPORE WINDSOR HOLDINGS LTD 31-Mar-08 7 SINOTEL TECHNOLOGIES LTD. 31-Dec-07 7 STAMFORD TYRES CORPORATIONLTD 30-Apr-08 7 STRATECH SYSTEMS LIMITED 31-Mar-08 7 SURFACE MOUNT TECH (HLDGS) LTD 31-Mar-08 7 SWING MEDIA TECHNOLOGY GRP LTD 31-Mar-08 7 TECHCOMP (HOLDINGS) LIMITED 31-Dec-07 7 THAI VILLAGE HOLDINGS LTD 30-Sep-07 7 THE HOUR GLASS LIMITED 31-Mar-08 7 TIANJIN ZHONG XIN PHARM GROUP 31-Dec-07 7 TTL HOLDINGS LIMITED 30-Jun-07 7 UNITED INTL SECURITIES LTD 31-Dec-07 7 WANXIANG INTERNATIONAL LIMITED 31-Dec-07 7 WILLAS-ARRAY ELEC (HLDGS) LTD 31-Mar-08 7 CONTEL CORPORATION LIMITED 31-Mar-08 8 8TELECOM INTL HOLDINGS CO LTD 31-Dec-07 8 ACTION ASIA LIMITED 31-Dec-07 8 ADDVALUE TECHNOLOGIES LTD 31-Mar-08 8 AMPLEFIELD LIMITED 30-Sep-07 8 ANWELL TECHNOLOGIES LIMITED 31-Dec-07 8 AUTRON CORPORATION LIMITED 30-Jun-07 8 BABCOCK & BROWN GLOBAL INV LTD 31-Dec-07 8 BAN JOO & COMPANY LIMITED 30-Sep-07 8 BOUSTEAD SINGAPORE LIMITED 31-Mar-08 8 BRC ASIA LIMITED 31-Dec-07 8 CHANGTIAN PLASTIC & CHEM LTD 31-Dec-07 8 CHEMOIL ENERGY LIMITED 31-Dec-07 8 CHEUNG WOH TECHNOLOGIES LTD 28-Feb-08 8 CHINA AUTO CORPORATION LTD. 31-Dec-07 8 CHINA DAIRY GROUP LTD 31-Dec-07 8 CHINA ESSENCE GROUP LTD. 31-Mar-08 8 CHINA POWERPLUS LIMITED 31-Dec-07 8 CORTINA HOLDINGS LIMITED 31-Mar-08 8 COUGAR LOGISTICS CORPN LTD 31-Mar-08 8 FRAGRANCE GROUP LIMITED 31-Dec-07 8 FUNG CHOI MEDIA GROUP LIMITED 30-Jun-07 8 GEMS TV HOLDINGS LIMITED 30-Jun-07 8

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

GENTING INT'L PUBLIC LTD CO 31-Dec-07 8 GRP LTD 30-Jun-07 8 HOR KEW CORPORATION LIMITED 31-Dec-07 8 JACKSPEED CORPORATION LIMITED 28-Feb-08 8 JIUTIAN CHEMICAL GROUP LIMITED 31-Dec-07 8 JK YAMING INT'L HLDGS LTD 31-Dec-07 8 JURONG CEMENT LTD 31-Dec-07 8 KSH HOLDINGS LIMITED 31-Mar-08 8 LANKOM ELECTRONICS LIMITED 31-Dec-07 8 LORENZO INTERNATIONAL LIMITED 31-Dec-07 8 LUXKING GROUP HOLDINGS LIMITED 30-Jun-07 8 MERCATOR LINES (SINGAPORE) LTD 31-Mar-08 8 NAM LEE PRESSED METAL INDS LTD 30-Sep-07 8 NEPTUNE ORIENT LINES LIMITED 28-Dec-07 8 NTI INTERNATIONAL LIMITED 31-Dec-07 8 OSSIA INTERNATIONAL LTD 31-Dec-07 8 PACIFIC SHIPPING TRUST 31-Dec-07 8 PORTEK INTERNATIONAL LIMITED 30-Jun-07 8 POWERMATIC DATA SYSTEMS LTD 31-Mar-08 8 R H ENERGY LTD. 31-Dec-07 8 REYPHON AGRICEUTICAL LIMITED 31-Dec-07 8 SHANGRI-LA ASIA LIMITED 31-Dec-07 8 SINGAPORE SHIPPING CORP LTD 31-Mar-08 8 STAMFORD LAND CORPORATION LTD 31-Mar-08 8 TRANSPAC INDUSTRIAL HLDGS LTD 31-Dec-07 8 TRANSVIEW HOLDINGS LIMITED 31-Oct-07 8 UNI-ASIA FINANCE CORPORATION 31-Dec-07 8 UNION STEEL HOLDINGS LIMITED 30-Jun-07 8 UNITED ENVIROTECH LTD 31-Mar-08 8 UNITED OVERSEAS INSURANCE LTD 31-Dec-07 8 UOB-KAY HIAN HOLDINGS LIMITED 31-Dec-07 8 VIBROPOWER CORPORATION LIMITED 31-Dec-07 8 VIBROPOWER CORPORATION LIMITED 31-Dec-07 8 WILMAR INTERNATIONAL LIMITED 31-Dec-07 8 YANGZIJIANG SHIPBLDG HLDGS LTD 31-Dec-07 8 YANLORD LAND GROUP LIMITED 31-Dec-07 8 YONG XIN INTL HOLDINGS LTD. 31-Dec-07 8 ADAMPAK LIMITED 31-Dec-07 9 ARMSTRONG INDUSTRIAL CORP LTD 31-Dec-07 9 A-SONIC AEROSPACE LIMITED 31-Dec-07 9 AUSSINO GROUP LTD 30-Jun-07 9 AVI-TECH ELECTRONICS LIMITED 30-Jun-07 9 BBR HOLDINGS (S) LTD 31-Dec-07 9 BROADWAY INDUSTRIAL GROUP LTD 31-Dec-07 9

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

C & O PHARM TECH (HLDGS) LTD 30-Jun-07 9 CAMBRIDGE INDUSTRIAL TRUST 31-Dec-07 9 CAPITACOMMERCIAL TRUST 31-Dec-07 9 CDL HOSPITALITY TRUSTS 31-Dec-07 9 CHINA AUTO ELECTRONICS GRP LTD 31-Dec-07 9 CHINA GREAT LAND HOLDINGS LTD. 31-Dec-07 9 COURAGE MARINE GROUP LIMITED 31-Dec-07 9 DIGILAND INTERNATIONAL LTD 30-Jun-07 9 EASTGATE TECHNOLOGY LTD 31-Dec-07 9 ECS HOLDINGS LIMITED 31-Dec-07 9 ENG WAH ORGANIZATION LIMITED 31-Mar-08 9 FASTECH SYNERGY LTD 31-Dec-07 9 FIRST SHIP LEASE TRUST 31-Dec-07 9 FUXING CHINA GROUP LIMITED 31-Dec-07 9 HLH GROUP LIMITED 31-Dec-07 9 HONGWEI TECHNOLOGIES LIMITED 31-Dec-07 9 INDOFOOD AGRI RESOURCES LTD. 31-Dec-07 9 LANTROVISION (S) LTD 30-Jun-07 9 LIANG HUAT ALUMINIUM LTD 31-Dec-07 9 LIFEBRANDZ LTD. 31-Jul-07 9 LINDETEVES-JACOBERG LTD 31-Dec-07 9 LUNG KEE (BERMUDA) HLDGS LTD 31-Dec-07 9 MACQUARIE PRIME REIT 31-Dec-07 9 MAN WAH HOLDINGS LIMITED 31-Mar-08 9 NATSTEEL LTD 31-Dec-07 9 NEL GROUP (Formerly NUCLEUS ELECTRONICS) 31-Dec-07 9 NETELUSION LIMITED 31-Mar-08 9 NEW TOYO INT HLDGS LTD 31-Dec-07 9 OCEAN INT'L HOLDINGS LIMITED 31-Dec-07 9 PAN HONG PROPERTY GROUP LTD 31-Dec-07 9 PCI LTD 30-Jun-07 9 PERTAMA HOLDINGS LIMITED 30-Jun-07 9 PNE INDUSTRIES LTD 30-Sep-07 9 POH TIONG CHOON LOGISTICS LTD 31-Dec-07 9 SAMKO TIMBER LIMITED 31-Dec-07 9 SERIAL SYSTEM LTD 31-Dec-07 9 SP AUSNET 31-Mar-08 9 STATS CHIPPAC LTD 30-Dec-07 9 STX PAN OCEAN CO., LTD. 31-Dec-07 9 SUNMART HOLDINGS LIMITED 31-Dec-07 9 SUNRIGHT LTD 31-Jul-07 9 SUNTEC REAL ESTATE INV TRUST 30-Sep-07 9 YONGMAO HOLDINGS LIMITED 31-Mar-08 9 YONGNAM HOLDINGS LIMITED 31-Dec-07 9

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

Z-OBEE HOLDINGS LIMITED 31-Mar-08 9 ASCENDAS INDIA TRUST 31-Mar-08 10 ASCENDAS REAL ESTATE INV TRUST 31-Mar-08 10 ASCOTT RESIDENCE TRUST 31-Dec-07 10 BENEFUN INT HLDGS LTD 30-Jun-07 10 BRITISH & MALAYAN TRUSTEES LTD 30-Jun-07 10 BURWILL HOLDINGS LIMITED 31-Dec-07 10 CHARTERED SEMICONDUCTOR MFGLTD 31-Dec-07 10 CHEMICAL INDUSTRIES (F.E.) LTD 31-Mar-08 10 CHINA ERATAT SPORTS FASHIONLTD 31-Mar-08 10 CHINA HONGCHENG HOLDINGS LTD 30-Jun-07 10 CHINA MERCHANTS PROP DEVTCOLTD 31-Dec-07 10 CHINA PRINTG & DYEING HLDG LTD 31-Dec-07 10 CHINA YUANBANG PROP HLDGS LTD 30-Jun-07 10 COMPACT METAL INDUSTRIES LTD 31-Dec-07 10 CREATIVE TECHNOLOGY LTD 30-Jun-07 10 DAIRY FARM INT'L HOLDINGS LTD 31-Dec-07 10 DYNAMIC COLOURS LIMITED 31-Dec-07 10 EASTERN HOLDINGS LTD 31-Mar-08 10 FIRST REAL ESTATE INV TRUST 31-Dec-07 10 FIRST RESOURCES LIMITED 31-Dec-07 10 FORTUNE REAL ESTATE INV TRUST 31-Dec-07 10 GIANT WIRELESS TECHNOLOGY LTD 31-Mar-08 10 GLOBAL TECH (HLDGS) LIMITED 30-Sep-07 10 GUANGZHOU INVESTMENT CO LTD 31-Dec-07 10 HONG FOK CORPORATION LTD 31-Dec-07 10 HONGKONG LAND HOLDINGS LIMITED 31-Dec-07 10 HOTEL GRAND CENTRAL LTD 31-Dec-07 10 HOTUNG INVESTMENT HLDGS LTD 31-Dec-07 10 INTERNET TECHNOLOGY GRP LTD 31-Dec-07 10 IONICS EMS INC 31-Dec-07 10 JARDINE MATHESON HLDGS LTD 31-Dec-07 10 JARDINE STRATEGIC HLDGS LTD 31-Dec-07 10 JAYA HOLDINGS LTD 30-Jun-07 10 JEL CORPORATION (HOLDINGS) LTD 31-Dec-07 10 KYODO-ALLIED INDUSTRIES LTD 30-Jun-07 10 LAFE CORPORATION LIMITED 31-Dec-07 10 MANDARIN ORIENTAL INTL LTD 31-Dec-07 10 MAPLETREE LOGISTICS TRUST 31-Dec-07 10 MEGHMANI ORGANICS LIMITED 31-Mar-08 10 MERMAID MARITIME PUBLIC CO LTD 30-Sep-07 10 MURATA MFG CO. LTD 100 31-Mar-08 10 NIPPECRAFT LIMITED 31-Dec-07 10 PARKWAYLIFE REIT 31-Dec-07 10

SINGAPORE CORPORATE GOVERNANCE AWARDS 2008 MAINBOARD COMPANIES

Notes: The companies are shown in deciles with band 1 representing the top 10% and band 10 representing the bottom 10% Companies are sorted in alphabetical order within each band Only companies that released their latest annual reports by 31 March 2008 have been included

PT BERLIAN LAJU TANKER TBK 31-Dec-07 10 ROXY-PACIFIC HOLDINGS LIMITED 31-Dec-07 10 SING INVESTMENTS & FINANCE LTD 31-Dec-07 10 STRACO CORPORATION LIMITED 31-Dec-07 10 SUNWAY INTL HLDGS LTD 30-Sep-07 10 THAI BEVERAGE PUBLIC CO LTD 31-Dec-07 10 THAI PRIME FUND LTD 31-Dec-07 10 TOTAL ACCESS COMM PUB CO LTD 31-Dec-07 10 TPV TECHNOLOGY LIMITED 31-Dec-07 10 VIZ BRANZ LIMITED 31-Dec-07 10 ZAGRO ASIA LIMITED 31-Dec-07 10