Govt not ruling out quotas for female directors
SINGAPORE is not ruling out the possibility of implementing a quota for female directors on the boards of listed companies here, though it prefers to increase their representation through other means at present.
This was revealed by Minister in the Prime Minister's Office Grace Fu on the sidelines of the Singapore Institute of Directors Directors' Conference 2014 yesterday.
The Second Minister for the Environment and Water Resources was speaking to reporters after having delivered a speech to participants at the conference, during which she had also pushed for greater diversity on Singapore boards.
In her speech, she singled out Genting Singapore, Global Logistics Properties, Golden-Agri Resources, Olam International, StarHub and Wilmar International as some of the Singapore-listed companies that do not have a single female director on their boards.
Acknowledging the enthusiastic applause from the crowd in reaction to her reading out this list of companies, Ms Fu quipped: "I assure that the next time I am invited back to this conference, I will read a longer list."
Responding later to the media's queries about whether the Government would consider imposing a quota for female directors on boards, she said: "I think there is always an option through regulation, something that we wouldn't rule out.
"But, obviously, I think right now, we hope that by urging board chairmen and board members, we could get some of this momentum going.
"Increasingly, I think that it is the contribution of women that people will value, and once they do that, they will see that it is only natural they should be part of their board, part of their leadership."
THE BUSINESS TIMES