Independent Director Forum 2025 — Role of Independent Directors in Overseas Expansion

The ASEAN Corporate Governance Scorecard (ACGS) is a regional initiative under the ASEAN Capital Markets Forum (ACMF), developed with the Asian Development Bank (ADB) to assess, enhance, and promote corporate governance among six participating ASEAN countries' public-listed companies (PLCs). Launched in 2011, it is a benchmarking tool aligned with internationally recognised standards, including the G20/OECD Principles of Corporate Governance, to raise governance standards, improve transparency, and foster investor confidence across ASEAN markets. The ACGS assessment is conducted based on publicly available disclosures, including annual reports, corporate websites, governance policies, sustainability reports, articles of association, and shareholder meeting minutes. Developed by regional corporate governance experts, its rigorous methodology ensures a consistent, objective, and independent evaluation of governance standards across participating ASEAN member states. Over the years, the ACGS has been instrumental in fostering a strong corporate governance culture in ASEAN. It has encouraged PLCs to adopt internationally recognised corporate governance principles, driving improvements in transparency, board accountability, shareholder rights, and sustainability practices. The scorecard has also contributed to innovative business models prioritising ethical leadership and long-term value creation.