Citing the survey produced by CLSA Asia Pacific Markets and the Asian Corporate Governance Association (ACGA), the Post notes Singapore scored 67%, up from 65% in 2007, while Hong Kong scored 65%, down from 67% three years earlier. The Philippines landed in the bottom with 37%, slipping from 41% in 2007.
The report reveals that corporate governance in Asia falls below global standards and initiatives to improve it have been hampered by the financial crisis. Asia's leaders--Singapore and Hong Kong--lag behind the U.S. and Europe.
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