Governance, Risk, and Compliance Handbook: Technology, Finance, Environmental, and International Guidance and Best Practices

CHAPTER 48

SOUTHEAST ASIA CORPORATE GOVERNANCE

Lawrence Wasserman, PhD

48.1 BACKGROUND

48.2 ASSESSMENT OF THE ASIA CORPORATE GOVERNANCE REGULATORY AND COMPLIANCE PROGRAM

(a) Legal Environment

(i) Asia-Pacific Economic Commission (APEC) Report

(b) Asian Country Corporate Governance Compliance Trends

(i) Singapore

(ii) Thailand

(iii) Malaysia

(c) Country Corporate Governance Compliance Trends—Philippines and Vietnam

(i) Philippines

(ii) Vietnam

(d) Corporate Governance in Asia 2005

(i) Malaysia—Work in Progress

(ii) Philippines—Chugging Along

(iii) Singapore—Emerging from Mishaps

(iv) Thailand—Enforcement Issues

(e) Lessons Learned—Compliance Trends in Technology IT Governance

48.3 CORPORATE GOVERNANCE PERFORMANCE AND COMPLIANCE IN ASIA

48.4 LESSONS LEARNED—BEST PRACTICES

(a) Lessons Learned

(b) Best Practices for the Future

(c) Protecting Investors—Lessons Learned

(d) Lessons Learned/Best Practices

(e) IT Management Aspects of Lessons Learned

48.5 CONCLUSION

NOTES

48.1 BACKGROUND

For the past 15 years, Asia has served as the most dynamic region of the world with its impressive economic growth rates and development. Asia is now and for the near-term future the dynamic business engine of the first part of the twenty-first century.

This is in contrast to only 15 years ago when the East Asian economic crisis (in early 1990s) was the most important economic event in the region. The Asian countries have seen a return to economic viability with trade and development, maturity, and political ...