The eighth Asian Corporate Governance Roundtable took place at the Grand Hyatt Erawan Hotel, in Bangkok, Thailand, on 14-15 September 2006. The principal agenda items for the meeting included:
The discussion on implementation and enforcement of corporate governance rules was based on case studies in Thailand, Singapore and Chinese Taipei. Participants from OECD and Asian economies exchanged views on practical circumstances and challenges in the range of enforcement options: administrative, civil and criminal.
There was a lively exchange of views on boardroom practices, with some useful insights into the ten key board room challenges as a basis for the Boardroom Guide to the OECD Principles of Corporate Governance that is being developed. While trying to stay away from the issue of definition, participants discussed how to balance the composition of the board to prevent controlling shareholders from undermining minority shareholder interests and also how to motivate directors to be “independent-minded”.
Finally, participants discussed a number of on-going and new initiatives on corporate governance that could be relevant to the Asian Roundtable. Also, a dozen of general and specific proposals for the next meeting were made. A significant issue that stood out and that cuts across the board is the equitable treatment of shareholders.
Given the concentrated ownership structure in Asia, there is a need to analyse the legal and regulatory systems in more depth. The importance of the OECD Guidelines on Corporate Governance of SOEs and the continued need to address these issues was stressed.
The meeting was organized by the OECD in cooperation with the World Bank Group and co-hosted by the Thai Securities and Exchange Commission, the Stock Exchange of Thailand, the Thai Institute of Directors and the Listed Companies Association in partnership with the Government of Japan and the Global Corporate Governance Forum.
SESSION I: Case Studies on Implementation and Enforcement of Corporate Governance Rules
SESSION 2: Implementation and Enforcement of Corporate Governance Rules - Progress Made and Challenges Ahead
SESSION 3: Ten Boardroom Challenges; A Boardroom Guide to the
OECD Principles on Corporate Governance
Introduction of the Boardroom Guide project by Ms. Anne Simpson, Executive Director, International Corporate Governance Network (ICGN)
SESSION 4: Independent Non-executive Directors
SESSION 5: Related Activities and Next Steps