ShareJunction - Stock Forum Messages

Others

Morally strong' leaders needed

Only 'morally strong' leaders can prevent corporate scandals

More rules or even more able leaders will not prevent more corporate scandals.

What is needed are more leaders with strong moral character, said Mr Lim Boon Heng, Minister in the Prime Minister's Office.

In recent years, legislation has been tightened to clamp down on potential corporate scandals.

This may have led some to expect that it would be more difficult to do wrong, or that wrongful acts would be detected and dealt with earlier, said Mr Lim.

&lt;A HREF="http://ads.asia1.com.sg/event.ng/Type=click&amp;FlightID=8404&amp;AdID=10618&amp;TargetID=1681&amp;Segments=1,81,999,1713,1779,1780,1893,2061&amp;Targets=1681&amp;Values=30,50,60,83,92,100,110,130,150,186,196,266,942,979,990,1480,1489,2253,2762,2807,2865,2908,2920,4074,4093,4118,4119,4120,4335,4337,4342,5611&amp;RawValues=&amp;Redirect=http:%2f%2fir.asiaone.com.sg/" target="_blank"&gt;&lt;IMG SRC="http://adimage.asiaone.com.sg/2003/dot.gif" WIDTH=300 HEIGHT=250 BORDER=0&gt;&lt;/A&gt;

'However, these measures appear to me to be building a better fishing net, and upgrading the number of fishermen. At the same time, the skills of the fishermen are raised,' he told more than 50 company directors and top executives at the Singapore Institute of Directors annual general meeting luncheon on Tuesday.

Simply adding more rules will only add to the costs of compliance.

It is important to scrutinse the more fundamental question of how to prevent the incidence of wrongdoing, argued Mr Lim.

He urged the audience to get the priorities of their companies right by seeking the right leadership - able people with strong moral character.

'Perhaps society should look at itself, and ask how values are being transmitted from one generation to the next - so that we will continue to have morally strong able people to manage businesses,' said Mr Lim.

Login Register

Morally strong' leaders needed