Chee Hong Tat on practice of 'overboarding' for board directorships
The practice of individuals holding more board directorships than they can reasonably handle is not prevalent in Singapore, said Senior Minister of State for Finance Chee Hong Tat. Replying to an MP's questions in Parliament on Tuesday (Feb 14), he said about 95 per cent of directors of Singapore-listed companies hold no more than two directorships, and over 80 per cent of directors hold only one directorship. Mr Chee said the Companies Act does not limit the number of directorships that an individual may hold for Singapore-incorporated companies. But all directors are required to discharge their duties responsibly, and with honesty and reasonable diligence.
The practice of individuals holding more board directorships than they can reasonably handle is not prevalent in Singapore, said Senior Minister of State for Finance Chee Hong Tat. Replying to an MP's questions in Parliament on Tuesday (Feb 14), he said about 95 per cent of directors of Singapore-listed companies hold no more than two directorships, and over 80 per cent of directors hold only one directorship. Mr Chee said the Companies Act does not limit the number of directorships that an individual may hold for Singapore-incorporated companies. But all directors are required to discharge their duties responsibly, and with honesty and reasonable diligence.
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