The Code on Corporate Governance focuses on providing principles and guidelines to listed companies and their Boards to spur them towards a high standard of corporate governance. The purpose is to help drive higher standards of corporate governance and transparency, but by no mean a must follow.
In a recent reply to SGX by Indofood Agri on 29 April 2015
RESPONSES TO QUERIES FROM THE SGX-ST ON ANNUAL REPORT 2014 SGX-ST Query 2
We note that the Company had stated the band of remuneration of the directors and CEO as “above S$1,000,000”, without an upper limit in the bands of S$250,000. Please provide an upper limit to the band. Company’s response:
The Board and Management are not in favour of disclosing the upper limit of the salary band due to commercial sensitivity of such information.