LionGold is committed to maintaining a high standard of corporate governance. It recognises the importance of practising good corporate governance as a fundamental part of its responsibilities to enhance shareholder value, and the financial performance of LionGold. As LionGold is listed on the SGX, it is required to report annually on its compliance with the Singapore Code of Corporate Governance (Code).
The Code is benchmarked to international standards and designed to serve as a guide for companies to meet stakeholders’ expectations of governance standards. Singapore adopts a “comply-or-explain” approach towards the Code. Although compliance with the Code is not mandatory, companies are required to disclose their corporate governance practices and give explanations for deviations from the Code in their annual reports.
Best practices of the Code include having an independent board, adopting transparent procedures and maintaining sound systems of internal controls. In those respects, the Code is similar to the ASX Corporate Governance Council of Principles of Good Corporate Governance and Best Practice Recommendations.
For the complete Code, please refer to the SGX website (www.sgx.com).