Singapore's 2025 Corporate Governance Reforms- What Companies Should Know

The Corporate Governance Advisory Committee – an industry-led body established by the Monetary Authority of Singapore (“MAS”) – is leading a review of Singapore’s Code of Corporate Governance.

The corporate governance review is part of wider efforts by regulators to revitalise Singapore’s equities market through strengthening investor confidence, amongst other measures.

At the Singapore Governance and Transparency Index Forum in August 2025, MAS noted that:

• The Corporate Governance Advisory Committee will be conducting focus group discussions to gather perspectives across the ecosystem, including from investors and companies of varying profiles.

• MAS is considering a nuanced approach to corporate governance, such as by calibrating the rules for different types of companies – e.g. emerging, family-controlled, large-cap or multinational enterprises.

• The Corporate Governance Advisory Committee is also considering new provisions on corporate culture, board effectiveness, and risk management in emerging areas such as artificial intelligence (AI).

• MAS has received feedback through its equities market review that many companies limit themselves to “bare minimum disclosure requirements”. Listed companies are encouraged to engage in active dialogue with stakeholders to guide their strategic direction, as strong stakeholder engagement can lead to better valuations, greater trading liquidity and lower cost of capital.

The new Code of Corporate Governance is expected to present a distinct shift in Singapore’s corporate governance standards, and new areas of evaluation for Singapore-based businesses.

If you would like to discuss how your business can address the new standards, please do not hesitate to get in touch.