The Investors’ Choice Awards (ICA) celebrates excellence among companies and individuals that demonstrate strong ESG and corporate governance practices. As ESG continues to play an increasingly important role in corporate sustainability and investment decisions, particularly for retail investors, the Awards recognise listed companies that perform strongly in sustainability, governance, transparency and communications.
Presented by SIAS, together with NUS Centre for Governance and Sustainability (NUS-CGS) and its industry partners, the ICA adopts an investor-centric and holistic framework to assess companies based on their ESG and governance performance.
In addition, SIAS honours key stakeholders through awards such as the Outstanding CEO Award, Best Retail Broker Award, and Financial Journalist of the Year Award, recognising their contributions to good governance, investor education, and the development of a stronger investing ecosystem in Singapore.
To encourage public listed companies to be accountable to shareholders by adopting higher levels of corporate governance and corporate sustainability performance while achieving good business and financial results.
• Big Cap (market capitalisation of $1 billion and above)
• Mid Cap (market capitalisation of $300 million to less than $1 billion)
• Small Cap (market capitalisation of less than $300 million)
• REITs and Business Trusts
• Diversity
SIAS, together with Centre for Governance and Sustainability (CGS), NUS Business School, has developed a robust selection process to recognise listed companies that have good corporate governance and sustainability practices which promote shareholder interests. LSEG Stock Reports Plus scores are added to tabulate the total score. Handshakes also provide insights and data on the shortlisted companies as part of due diligence checking.
All SGX listed companies are evaluated and shortlisted using the STARS-SMART frameworks. The STARS framework is used to assess companies’ corporate governance performance and the SMART Framework is used to measure companies’ corporate sustainability performance.
Shareholders’ rights and equitable treatment
Transparency and disclosure
Accountability and audit
Responsibilities of the board
Stakeholders’ roles
Scope & Statement
Material ESG Factors
Actions & Achievements
Reporting Framework
Targets
Using LSEG Stock Reports+ scores, comprising analyst ratings of earnings, fundamentals, relative valuations, risks, price momentum and insider trading, as a screener for the shortlisted companies.
The SCGA Selection Committee Members, comprising industry partners, meet to decide the winners based on the quantitative and qualitative inputs.
Mr David Gerald
Founder, President & CEO
SIAS
Prof Lawrence Loh
Director, Centre for Governance and Sustainability
NUS Business School
National University of Singapore
Ms Chen Huifen
Editor
The Business Times
Ms Shen Yue
Business Editor
Lianhe Zaobao 联合早报
Newshub, Chinese Media Group
Singapore Press Holdings
Mr Jaime Ho
Editor
The Straits Times
Mr Chan Chao Peh
Editor,
The Edge Singapore
Ms Carmen Wee
CEO
Investment Management of Singapore
(IMAS)
Mr Daryl Neo
Chief Executive Officer and Co-Founder
Handshakes
Mr Tan Cheng Han, SC
President
The Law Society of Singapore
Ms Fann Kor
CEO
Institute of Singapore Chartered Accountants
(ISCA)
Ms Melinda Sam
CEO,
Securities Association of Singapore
(SAS)
Mr Tay Woon Teck
Senior Advisor
RSM Singapore
Ms Cindy Tan Hwee Leng, CFA, CA (Singapore)
President
CFA Society Singapore
To assess all listed companies in Singapore holistically with a robust look at the overall environmental (E), social (S) and governance (G) aspects of sustainability disclosures and reporting.
• Big Cap (market capitalisation of $1 billion and above)
• Mid Cap (market capitalisation of $300 million to less than $1 billion)
• Small Cap (market capitalisation of less than $300 million)
• REITs and Business Trusts
SIAS, together with Centre for Governance and Sustainability (CGS), NUS Business School, has developed a robust selection process to recognise listed companies that have demonstrated good overall ESG sustainability disclosures and reporting. LSEG Stock Reports Plus scores are added to tabulate the total score. Handshakes also provide insights and data on the shortlisted companies as part of due diligence checking.
Strategy and Governance
Companies are assessed on their strategy formulation, governance practices, ESG data disclosures, balanced reporting, adoption of globally recognised framework, and assurance.
Targets and Metrics
Companies are assessed on their short-, medium-, and long-term target setting as well as metrics used for tracking targets.
Environment and Climate
Companies are assessed on their disclosure of climate-related risks and opportunities, risk management, and environmental-related measurements including Scope 1, Scope 2, and Scope 3 emissions.
Materiality and Stakeholders
Companies are assessed on ESG material factors identification, disclosures of reasons for ESG material factors selection, and stakeholder engagement in determining ESG material factors.
Social and Organisation
Companies are assessed on their social-related practices pertaining to employment and local community.
LSEG Stock Reports+ scores, comprising earnings, fundamentals, relative valuation, risk, and price momentum, are used as a screener for the shortlisted companies.
The SCSA Selection Committee Members, comprising industry partners, meet to decide the winners based on the quantitative and qualitative inputs.
Dr Joshua Kuma
Managing Director, EQT Group
Prof Lawrence Loh
Director, Centre for Governance and Sustainability
NUS Business School
National University of Singapore
Ms Lee Sze Yeng
Managing Partner
KPMG
Ms Carmen Wee
CEO
Investment Management of Singapore
(IMAS)
Mr Jaime Ho
Editor
The Straits Times
Mr Chan Chao Peh
Editor,
The Edge Singapore
Ms Shen Yue
Business Editor
Lianhe Zaobao 联合早报
Newshub, Chinese Media Group
Singapore Press Holdings
Mr Ang Hao Yao
Vice President, SIAS
Chairman, Credit Counselling Singapore
Mr K Ganesan Kolandevelu
Southeast Asia Sustainability & Specialized Assurance Leader, Deloitte
Objective
To award CEOs of public listed companies who have demonstrated high levels of competence, integrity, excellent communications and good corporate governance. Through outstanding leadership, these CEOs lead their respective companies in achieving good financial results and breakthroughs in business which benefit shareholders.
• Shareholder Return
• Share Price
• Governance & Transparency
• Integrity
• Communication Skills
• Resilience – Able to turn the company around amid corporate distress
CEOs are nominated by SIAS members and investors by evaluation based on the selection criteria via an online survey. The ICOCA Selection Committee Members, comprising industry partners, then meet to review the list of nominees and decide the winners by combining both quantitative and qualitative inputs.
Mr David Gerald
Founder, President & CEO
SIAS
Mr Ang Hao Yao
Vice President, SIAS
Chairman, Credit Counselling Singapore
Ms Chen Huifen
Editor
The Business Times
Ms Shen Yue
Business Editor
Lianhe Zaobao 联合早报
Newshub, Chinese Media Group
Singapore Press Holdings
Mr Chan Chao Peh
Editor,
The Edge Singapore
Mr Jaime Ho
Editor
The Straits Times
Mr Terence Wong
CEO
Azure Capital
Mr David Kuo
Co-Founder, The Smart Investor
Objective
To encourage public listed companies to be accountable to shareholders by adopting higher levels of corporate governance and corporate sustainability performance while achieving good business and financial results.
• Big Cap (market capitalisation of $1 billion and above)
• Mid Cap (market capitalisation of $300 million to less than $1 billion)
• Small Cap (market capitalisation of less than $300 million)
• REITs & Business Trusts
The scorecard for the award is jointly developed by SIAS together with NUS School of Business, Centre for Governance and Sustainability (CGS).
All SGX listed companies are evaluated on their corporate governance score using STARS framework. The top 20% of companies with the highest scores are then assessed further using the Shareholder Communications Excellence Assessment Scorecard.
The Shareholder Communications Excellence Award criteria:
The company’s communication activities such as Investors Day, dialogue sessions and briefings are included as part of the overall score.
The SCEA Selection Committee Members evaluate shortlisted companies based on qualitative and quantitative inputs.The MTCA Selection Committee Members, comprising industry partners and media, meet to decide the winners based on the quantitative and qualitative inputs.
Mrs Elaine Lim
Honorary Advisor, SIAS
Ms Chen Huifen
Editor
The Business Times
Mr Jaime Ho
Editor
The Straits Times
Mr Chan Chao Peh
Editor,
The Edge Singapore
Ms Shen Yue
Business Editor
Lianhe Zaobao 联合早报
Newshub, Chinese Media Group
Singapore Press Holdings
Mr Lai Kwok Kin
Founder & Group MD
WeR1 Consultants Pte Ltd
To encourage financial journalists to uplift their reporting standards and provide financial information that is beneficial to the investing community at large.
Judging of entries is based on news value, originality, reportorial quality, analytical value, and impact on the financial community and retail investors at large.
This award is open to career journalists only. Journalists from the local media, both print and broadcast, are eligible.
Financial Journalist of the Year Award
Based on newsworthy contributions that made substantial impact on the investing community for the period under review, he/she must be a well-rounded journalist with the ability not only to break significant stories but is also able to write commentaries that take a clear position and provide insights for investors.
Investor Education Award
Focusing on education and the impact on the investing community, the journalist/programme must have displayed sound knowledge of the investment principles and the instruments discussed, produced and/or written consistently over a minimum period of at least six (6) months.
Financial Story of the Year Award
Candidates under this category are judged on either one story or a series of stories based on one topic that made an impact on the financial community.
Most Promising Journalist of the Year Award
To qualify for this award, a candidate must be a financial journalist for not more than three years and under the age of 30.
Investment Blog of the Year Award
To award investment websites & blogs that provides information and insights about investing, platform for readers to learn about different investment options, strategies, and financial news that can impact investment decisions.
Educational Content
Must cover a wide range of topics, not only products (features and risks), promoting the importance of financial planning including retirement planning and how impactful it is on the investing community
Target Audience
Articles must benefit a wide range of audiences
Consistency
Demonstrate on-going interest, variety and standard
Feedback
Must be strongly supported by the readers, listeners or viewers
Track Record
Minimum 3 years track record in the community investor education domain
Mr David Gerald
Founder, President & CEO
SIAS
Ms Elaine Lim
Honorary Advisor, SIAS and Independent Director
Mr Ang Hao Yao
Vice President, SIAS
Chairman, Credit Counselling Singapore
Ms Catherine Ong
CEO
Catherine Ong Associates
Mr Sivanithy s/o Rathananthan
Senior Editor & Trainer
SIAS
Mr TK Yap, CFA
CEO
Dicree
Ms Chia Hui Kheng
Managing Director
Citigate Dewe Rogerson Singapore.
Ms Ang Shih-Huei
CEO and Co-Founder
H/Advisors Klareco
Mr Terence Foo
Managing Partner
SEC Newgate Singapore
Ms Patsy Phay
Executive Director
Mileage Communications
To encourage brokerage firms to better their quality of service and information provided to ensure retail investors have a good understanding of what they invest in.
SIAS, in collaboration with Singapore Management University has developed a set of criteria for the effective evaluation of brokerage firms in Singapore.
Brokers are shortlisted through the following processes:
Through qualitative research, SMU identifies brokerage firms based on variables such as product offerings, disclosure & security, technology, investor education, customer service and recognition. To ensure that the award reflects the true sentiments and experiences of the investing community, participation from retail investors in the Retail Brokerage Survey provided more insight into the quality and satisfaction level of the various brokerage services available in Singapore.
Selection Committee Members meet to decide the winners based on the results.
Mr Ang Hao Yao
Vice President, SIAS / Private Investor
Mr David Kuo
Co-Founder, The Smart Investor & former CEO of the Motley Fool Singapore
Prof David Ding
Associate Professor of Finance (Education)
Lee Kong Chian School of Business, Singapore Management University
Mr Terence Wong
CEO
Azure Capital
Mr Richard Dyason
Executive Director,
The Institute of Internal Auditors Singapore
Objective
To recognise public listed companies which are transparent in their timely disclosure of information and facilitate shareholders’ rights and equitable treatment. Investors can, therefore, make informed investment decisions.
2025
• Big Cap
• Mid Cap
• Small Cap
• REITs & Business Trusts
SIAS, together with NUS School of Business, Centre for Governance and Sustainability (CGS), assesses all the SGX listed companies based on their Transparency and Disclosure. This is part of the STARS framework developed for the Corporate Governance scorecard. In addition, LSEG Stock Reports+ scores are added to tabulate the total score. Handshakes also provides insights and data on the shortlisted companies as part of due diligence checking.
All SGX listed companies are evaluated and shortlisted based on their Transparency and Disclosure.
Indicators in STARS Framework – ‘Transparency and Disclosure’ Section takes into consideration Quality of Annual Report, Disclosure of Interested Person Transactions (IPT), Directorships in Listed Companies, Timeliness of Release of Results, Executive Director/Top 5 Executives’ Remunerations, Non-Executive Director Fees, and Corporate Website.
LSEG Stock Reports+ scores, which combine the analysis of five widely used investment decision making tools: Earnings, Fundamental, Relative Valuation, Risk and Price Momentum, are adopted as a screener for the shortlisted companies. Refinitiv Stock Reports+ scores are added to tabulate the total score and Handshakes provides further research and information on the companies.
The MTCA Selection Committee Members, comprising industry partners and media, meet to decide the winners based on the quantitative and qualitative inputs.
Mr TK Yap, CFA
CEO, DiCREE Pte Ltd
Mr Ang Hao Yao
Vice President, SIAS
Chairman, Credit Counselling Singapore
Prof Lawrence Loh
Director, Centre for Governance and Sustainability
NUS Business School
National University of Singapore
Ms Chen Huifen
Editor
The Business Times
Ms Shen Yue
Business Editor
Lianhe Zaobao 联合早报
Newshub, Chinese Media Group
Singapore Press Holdings
Mr Jaime Ho
Editor
The Straits Times
Mr Daryl Neo
CEO & Co-Founder
Handshakes by DC Frontiers
Ms Melinda Sam
CEO
Securities Association of Singapore (SAS)
Mr Chan Chao Peh
Editor, The Edge Singapore
Ms Fann Kor
CEO
Institute of Singapore Chartered Accountants
(ISCA)
Mr Tay Woon Teck
Senior Advisor
RSM Singapore
Mr Tan Cheng Han, SC
President
The Law Society of Singapore
Ms Cindy Tan Hwee Leng, CFA, CA (Singapore)
President
CFA Society Singapore
(ISCA)
CEO & Executive Director
ESR-REIT
CEO & Executive Director
Centurion Corporation Limited
Associate Editor, Editorial
The Edge Singapore
Senior Correspondent, Business Desk
The Straits Times, SPH Media
Presenter/Senior Producer
CNA938, Mediacorp
Business Journalist
Lianhe Zaobao, SPH Media
CEO & Executive Director
ESR-REIT
CEO & Executive Director
Centurion Corporation Limited
Associate Editor, Editorial
The Edge Singapore
Senior Correspondent, Business Desk
The Straits Times, SPH Media
Presenter/Senior Producer
CNA938, Mediacorp
Business Journalist
Lianhe Zaobao, SPH Media
