RHT Law and RHT Capital have pledged their support to uphold and advance good corporate governance standards as Corporate Governance Professionals.
The pledge is a key feature of this year's Singapore Corporate Governance week organised by the Securities Investors Association (Singapore) or SIAS. RHT Law and RHT Capital joins leading institutions and corporations who have endorsed this pledge, namely the Organisation for Economic Co-operation and Development (OECD) and the Singapore Exchange (SGX).
The pledge is deemed to be timely given the sharp rise in average number of fraud cases in Singapore, notwithstanding that the Asian Corporate Governance Association in Hong Kong recently rated Singapore as having the best corporate governance standard in Asia.
The Statement of Support for Year 2011 reads:
"As an Organisation we are committed to upholding high standards of corporate governance to enhance shareholder value. We believe practising good corporate governance is central to the health and stability of our financial markets and economy."
A total of 105 companies have signed the Statement of Support for excellence in corporate governance which has been published in the Business Times on 24th October 2011.
RHT Law congratulates RHT Capital on her appointment as the Sponsor for Lereno Bio-Chem Ltd with effect from 19 October 2011.
Lereno Bio-Chem Ltd is a Catalist listed company, engaged in biofuel and investment holdings. The Company operates in two business segments: biofuel and related business, and others.
RHT Law has brought to its ranks two key Partner hires - veteran lawyer Mr Sim Yong Chan, and Ms Tan Siew Kim, in a move to bolster its Litigation and Dispute Resolution practice.
Mr Sim joins as a Partner of RHT Law from his previous firm, Arthur Loke & Sim. He is a Litigator and Arbitrator, and is also reputed as an excellent deal initiator and negotiator for merger and acquisition transactions. His experience as a businessman prior to his present vocation as a lawyer stands him in good stead in advising on the dynamics of a deal and in signing up the interests of the parties. He is the current president of The Tanglin Club and legal advisor to the Teochew Poit Ip Huay Kuan, and also holds directorships in two companies listed on the SGX.
Ms Tan joins as a Partner of RHT Law from her previous firm, Wong Tan & Molly Lim LLC. She has a wide range of litigation experience, having conducted proceedings regularly in the Subordinate Courts (including the Family and Juvenile Courts), the High Court of Singapore and the Court of Appeal. In particular, she specialises in all aspects of contentious family matters including Appeals in the Court of Appeal. She has been involved in many aspects of civil / commercial litigation including the areas of banking (both corporate and individual), debts work, insurance as well as construction. She has also advised local companies, major banks, MNCs and various statutory boards and liaised with counsel from other jurisdictions for both corporate and family matters. She is regularly featured in local magazines and the press, notably for her views and comments on Family matters. She is also a keen writer on dining / entertainment.
With them on board, RHT Law has a total of 29 Partners.
On 14th September 2011, the Singapore Exchange (SGX) announced amendments to the Listing Manual to strengthen corporate governance practices and to foster greater corporate disclosure.
RHT Law LLP conducted 2 briefing sessions on 7th October 2011 (Friday) to update clients on the recent changes to the Listing Manual. The firm received overwhelming interest of 38 listed companies and more than 90 attendees who are Board members, Audit Committee members, CEOs, CFOs, Company Secretaries, and other managerial level delegates.
Speaker Chew Kok Liang, Corporate & Securities Partner of RHT Law, shared that the changes to the listing manual rules show a shift in focus from imposing too onerous obligations on Independent Directors to one that emphasizes the importance of internal controls, and the Board and Audit Committee's responsibilities in that regard.
The session also saw industry veterans Mr Irving Low, Head of Governance, Risk & Compliance Services of KPMG Advisory, and Ms Linda Hoon, Senior Vice President and Group Company Secretary, Head of Management Practice, Group Legal, Compliance and Secretariat of DBS Group Holdings Ltd. join RHT Law's Partners Tan Chong Huat, Lawrence Wong, and Ch'ng Li-Ling of the Corporate & Securities Practice, in a 1 hour panel session to discuss the impact of these changes on listed companies in Singapore.
Ms Linda Hoon shared lessons from the recent UBS rogue trading case to raise pointers on how listed companies and financial institutions can strengthen internal controls to mitigate the risk of similar incidents happening in their organisation. She also shared her views on how an organisation and its board members can comply with the "SIPS" (Spirit, Intent, Purpose, Substance) of the Listing Rules, where the focus is no longer on following the black letter of the law, but by abiding by the SIPS.
Mr Irving Low gave his risk management perspectives on the importance for an organisation to identify its most significant risks and setting frameworks to mitigate various types of risks that organisations may face in times of economic uncertainties or financial difficulties. He also raised from a governance point of view, how companies can deal with 'key man' risks, and clearly spell out the roles and responsibilities of a CEO, using the case study of Apple and Steve Jobs' demise to highlight the importance of succession planning.
The full set of amendments can be found at: