Here in the early morning to do an “autopsy” review of Allied Technologies ie. understand risk and governance lessons from the $33m debacle.
As usual, I like to sit at the front. To be close to the action 🙂 Here are my notes from the session. Thanks to ISCA and Deloitte for hosting the event.
1. Should SGX “frown” at directors who jumped ship at the first sign of trouble? Directors’ resignation and senior mgt team turnover could be used as an indicator of some underlying troubles within a company.
2. Applying the reasonable person’s judgement between our ears in understanding any issues.
3. Have we held enough of such autopsy sessions on the many corporate governance deficiencies happening in many of corporates here? Should such discussions be indemnified against legal repercussions if the intent of such sessions is for the better of Singapore?
4. Conformance and / or Performance?
If a listco is unable or unwilling to keep up to the standards required, perhaps it should consider delisting and free itself of public accountabilities.