Ten years ago saw the birth of the Singapore Institute of Directors. It was a time of financial turmoil in Asia, a time of lessons being learnt, and a time of rebuilding. But it was also a time of growth, drawing from business experiences globally and finding a place for corporate governance for Asian countries in the international scene.
The Institute was formed as a body to play a pivotal role for pulling together directors in Singapore, provide a continuing legal education platform for them, act as an interface with the regulators as matters directly concerning directors were introduced in law, and serve as a conduit through which better corporate governance could be established in Singapore.
In the last ten years, the Institute has grown from strength to strength. It has established an excellent working relationship with the regulators in Singapore, forged several partnerships with various institutes and professional firms and established a sustainable learning environment for directors.
As we celebrate the Institute’s 10th Anniversary, whilst much has been accomplished, we see us entering into a different era, one not seen in perhaps half a century – the financial meltdown and global recession. Such a situation presents even greater challenges for directors.
However, what is different today which was not the case ten years ago, is the fact that companies and directors are willing to face the issues and review how best to resolve them. Directors live in exciting times. And yet if they perform their roles fairly and diligently, they need not have any fear or concern. The Institute will continue to explore how best to assist the directors in the years ahead.
To this end, the Institute has completed a strategic review of its mission and programmes of activities, its marketing and financial resources to prepare itself for the coming challenges. The Institute will be repositioned to better reach out to directors and enhance their professionalism and to be at the forefront of corporate governance issues.
The success of the Institute depends as much on the strength of its Council and secretariat and the services it provides to members, as to the support of members and various organisations as co-partners. We, therefore, look forward to more active participation from all companies, whether listed or otherwise, in the Institute’s future activities.
Finally, I wish to thank all past and present Council and Committee members for their selfless efforts in serving the Institute all these years. The Council will continue to renew itself and I urge members to come forward to serve on the Council or its various committees.
Chew Heng Ching
Chairman, Singapore Institute of Directors
