SINGAPORE–(BUSINESS WIRE)–Tricor Group and the Financial Times Board Director Programme co-released the inaugural Asia Pacific Board Director Barometer Report, uncovering corporate board sentiments on COVID-19 disruptions globally with a focus on Singapore and other APAC markets.
According to the 2021 Asia Pacific Board Director Barometer Report:
The 2021 Asia Pacific Board Director Barometer Report reveals sentiments and actions of board directors across the globe in key areas of digital transformation, cybersecurity, board operations, corporate governance, risk & compliance (GRC) and business continuity planning (BCP). It is an in-depth survey conducted amongst 771 board directors representing a spectrum of start-ups, small and medium-sized enterprises (SMEs), multinational corporations (MNCs), non-profits and listed companies across 12 major industries. The sampling focuses largely on key markets in APAC (including mainland China, Hong Kong SAR, Malaysia Singapore, Thailand, Vietnam, Japan and Australia) and also incorporates comparative samples from the Americas, Europe and Africa.
Key findings from the report include:
Lennard Yong, Tricor Group CEO, said: The COVID-19 pandemic has triggered a crisis of epic proportions in APAC and beyond, impacting boards of directors from nearly every organization across all industries. Since the onset of the pandemic, Tricor has received an increasing number of inquiries from organizations looking to fortify board resiliency and adopt digital board governance in the face of ongoing business disruptions. Our expert team, equipped with a wealth of integrated, digital-enabled services and diversified corporate governance solutions, is dedicated to helping boards acclimate in the evolving business environment and thrive in the face of uncertainty.
Sunshine Farzan, Tricor Group Head of Marketing & Communications, said: Corporate boards have a fiduciary responsibility to mitigate risk, carefully hedging against catastrophes and outlier events that could overwhelm an organization and threaten shareholders investments. But in the face of continuous COVID-19 disruptions, the 2021 Asia Pacific Board Director Barometer Report confirms that board concerns have reached critical mass in cybersecurity, digitization, GRC and BCP. By highlighting impending challenges and outlining key areas for improvement, this report can help boards take the next steps toward business continuity and resiliency.
Ho Lon Gee, Director, CEO & Managing Director of Tricor Singapore, said: The scope and depth of the pandemics business impacts are unprecedented, being global in nature and resulting in drastic disruptions around the world. As a hub for international business, corporate boards in Singapore in particular have had to adapt to a continuously evolving business environment and make difficult decisions that impact all facets of operations. As in any market with sophisticated regulatory compliance, there are unique, evolving challenges for boards in Singapore. At Tricor Singapore, we are helping boards stay ahead of the curve and avoid common pitfalls by implementing innovative corporate governance solutions in BCP, GRC, cybersecurity and training so organizations can better serve employees, customers, communities and society at large.
In addition to the proprietary findings, the 2021 Asia Pacific Board Director Barometer Report also features secondary research findings, key insights, industry analysis, focus area recommendations and best practices to help boards better understand how their contemporaries are navigating the ongoing business disruptions amid the pandemic. To access the full report, please visit www.tricorglobal.com/2021-asia-pacific-board-director-barometer-report.
About Tricor Singapore
One of the world’s easiest places to do business, Singapore attracts a lot of business from multinational firmsbut entering any new market comes with challenges. Owing to globalization, international tax reforms, digitalization and domestic movements, the tax environment of Singapore is constantly evolving with new amendments, requirements, exemptions, incentives, challenges and opportunities. Whether you are looking to set up shop or streamline your current operations, we can help you capitalize on the growing opportunities Singapore has to offer.
Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, fund administration, and strategic business advisory. Strategically headquartered in Hong Kong, we operate out of 21 countries/territories and across a network of 47 offices. Tricor serves 50,000 clients, including over 1,500 companies listed in Hong Kong and Mainland China, ~500 companies publicly listed in Singapore and Malaysia, and over 40% of the Fortune Global 500 companies. With 2,800 employees, we deliver critical functions to help ambitious companies accelerate their growth in Asia and beyond.
Tricors advantage comes from deep industry experience, committed staff, technology-driven processes, standardized methodologies, constant attention to changes in laws and regulations and wide industry contacts. Tricor is uniquely positioned to unlock the potential of your business, and help you stay one step ahead of todays diverse and fast evolving regulatory environment.
To learn more, please visit: www.tricorglobal.com/locations/singapore
Contacts
HONG KONG SAR (GROUP OFFICE)
Sunshine Farzan
Tricor Services Limited
Group Head of Marketing & Communications
Tel: +852 2980 1261
Email: Sunshine.Farzan@hk.tricorglobal.com
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