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S’pore-listed firms must declare salaries and all payouts made to directors and CEOs

SINGAPORE – All Singapore-listed companies will need to disclose the exact amount and breakdown of salaries and other payments made to their directors and chief executive officers in their annual reports.

The new rule will take effect for annual reports prepared for the financial years ending on or after Dec 31, 2024.

The new mandate, aimed at boosting corporate transparency on remuneration and aligning the disclosure practices with the best global standards, was part of several amendments made to the Singapore Exchange’s (SGX) listing rules and the Code of Corporate Governance.

In separate statements on Wednesday, the Singapore Exchange Regulation (SGX RegCo), the regulatory arm of SGX, announced amendments to the listing rules, while the Monetary Authority of Singapore (MAS), the integrated regulator and supervisor of financial institutions in the Republic, announced changes to the Code of Corporate Governance to incorporate…

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