S'pore-listed firms need to improve anti-graft disclosure: NUS study

Whistle-blowers should get assurance of confidentiality, protection from reprisal

- Angela Tan

Singapore-listed companies need to improve their disclosure on anti-corruption policies, especially their commitment to protect whistle-blowers from reprisal.

Singapore companies tend to be "reticent" and "complacent" when it comes to their anti-corruption policies and strategies, Professor Lawrence Loh, the director of the Centre for Governance and Sustainability (CGS) at NUS Business School, told The Straits Times on Feb 10.

"When it comes to whistle-blowing, it is not enough to say that you have a whistle-blowing channel. It is critical for companies to disclose explicit assurance on confidentiality and anonymity," he said.

Whistle-blowing is the act of reporting misconduct, unethical behaviour or illegal activities within a company by an employee or insider. Without protection, anyone who blows the whistle may face negative consequences such as job termination, demotion or harassment.

The recent case of Singapore Post - where three top executives were sacked for the mishandling of internal investigations following whistle-blowing reports - has cast a public spotlight on the practice of whistle-blowing here.

Prof Loh's comments come in the wake of a 2024 study he led, evaluating the disclosure of corporate integrity practices among the 250 top-listed companies in the original five Asean countries.

The biennial study, released on Feb 10, was conducted by CGS.