Minister of State for Finance and Transport Lim Hwee Hua has called for greater integrity, accountability and transparency in corporate governance.
This comes especially in the light of the collapse of global companies like Enron, WorldCom and Parmalat.
Singapore has also not been spared from these corporate shenanigans, as seen by recent episodes involving China Aviation Oil, ACCS and Citiraya.
Mrs Lim was speaking at a forum organised by the Certified Public Accountants of Singapore and CPA Australia on Friday.
She said in adopting a disclosure-based regulatory regime, it was critical to assure the integrity of the securities market so as to sustain investors' confidence in Singapore and companies listed here.
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