Inaugural Asian Investors’ Corporate Governance Conference 2009

STRATEGIES TO IMPROVE CORPORATE GOVERNANCE IN THAILAND

Piman Limpaphayom,
Ph.D., CFA
Sasin Graduate Institute of Business Administration of Chulalongkorn University

Dr. Piman Limpaphayom, CFA, is the Head of the Department of Finance at Sasin GIBA of Chulalongkorn University, Thailand. In addition to being a CFA charterholder, he is a member of the textbook development team of the CFA Institute, USA.

Dr. Limpaphayom is also an active member of the OECD's Asian Corporate Governance Roundtable and a task force that develops corporate governance guidelines for companies in Asia. Currently, he is working closely with regulators or authorities on corporate governance scorecard projects in China, Hong Kong, Indonesia, Philippines, Singapore and Thailand.

His research papers have been published in reputable international journals, such as Journal of Accounting and Economics, Journal of Risk and Insurance, and Journal of Financial Markets. He also serves as an ad hoc referee for Corporate Governance: An International Review, an international journal for corporate governance. He received his Ph.D. in Finance and Insurance from University of Rhode Island, USA.

Mr. Chaly Mah
President
Singapore Division, CPA Australia

Mr Chaly Mah Chee Kheong is the CEO and Regional Managing Partner of Deloitte Touche Tohmatsu in Asia Pacific. He is also the CEO of Deloitte Singapore and Deloitte Southeast Asia and has been with the firm for over 30 years, including five years with its Melbourne office.

Chaly is a member of Deloitte's Global Executive, which leads and manages the global organisation’s affairs, and is responsible for determining the global vision and setting its strategic course.

He has extensive experience serving both multinational and local companies across a wide spectrum of industries from financial services to construction, electronics, retail and manufacturing.

Chaly also has substantial regional experience having served and advised companies with operations in Singapore, China, Hong Kong, Indonesia, Malaysia, Philippines, South Korea and Taiwan in the areas of mergers and acquisitions and corporate finance.

In his role as CEO of the Asia Pacific region, Chaly is responsible for ensuring the region delivers on its vision and strategy to be the standard of excellence by providing oversight on: the development of regional and country business plans; client service execution and targeting priorities; brand building activities; quality assurance and risk management; and ensuring the fourteen Asia Pacific member firms meet their measures of success.

Deloitte member firms in Asia Pacific have approximately 23,000 people providing audit, tax, consulting and financial advisory services in over 20 Asia Pacific nations.

Chaly graduated with a Bachelor of Commerce degree from the University of Melbourne. He is an associate member of the Institute of Chartered Accountants in Australia and a fellow member of CPA Australia. He is also a fellow member of the Institute of Certified Public Accountants in Singapore.

Ms. Kala Anandarajah
Partner,
Rajah and Tann LLP

Kala Anandarajah is a partner at Rajah & Tann LLP, where she heads the Competition & Trade Law Practice and leads the Corporate Governance Practice. With two decades of experience, she has been cited on numerous occasions as a leading lawyer in the various areas that she practices in, including Competition & Anti-Trust Laws, Corporate Governance, Corporate, Employment and Environmental Laws by international peer-reviewed legal ranking journals. The AsiaPacific Legal 500 2007-8 Edition notes that 'Kala Anandarajah has emerged as a leading authority in corporate governance, compliance and competition issues..', whilst the The Who's Who of Leading Practitioners Singapore 2008 describes her as 'highly active and very good' and an 'acknowledged authority in this field'. The Who's Who of Leading Practitioners Singapore 2008 also describes her as 'very knowledgeable' in competition law matters. Her Corporate Governance Practice was recently voted as Corporate Governance Firm of the year 2009 by ACQ Financial – a UK based publication. Kala has acted in many ground breaking matters on the Competition Law and Corporate Governance fronts. She has written very widely, including the first books on Competition Laws, on Corporate Governance and on Trade in Singapore, and presented at numerous conferences internationally. Her latest book on Corporate Governance – Practice & Issues published by the Academy of Law will be out very shortly. She sits on various committees, including as a member of the Competition Commission Roundtable, as a member of the Workplace Safety and Health Council, as a Council Member and Director of the Singapore Institute of Directors and until 2008 as Chairperson of the Corporate Practice Committee of the Law Society of Singapore. She was also part of the Review Committee that introduced the changes to the Code of Corporate Governance which took effect on 1 January 2007. Kala frequently acts for multinationals, TLCs, SMEs, financial institutions, NGOs and even countries in her areas of practice.

Mr. Peter Taylor
Head of Corporate Governance,
Aberdeen Asset Management Asia

Joined AAM: 2007
Nationality: British
Location: Singapore

Peter Taylor is an Investment Manager and Head of Corporate Governance on the Asian equities desk. Peter joined Aberdeen in 2007 from the International Finance Corporation, where he worked on corporate governance and capital markets development for seven years from their Washington DC and Hong Kong offices. Peter graduated with a BA in Philosophy, Politics and Economics from Oxford University and an MA in International Economics and International Relations from The Johns Hopkins University, Washington DC. Peter is a CFA Charterholder.

Ms. Yew Yee Tee
Head of Enforcement
Bursa Malaysia

Graduated and obtained her degree in Bachelors of Law [LLB (Hon.)] from University of Malaya, Malaysia. She has practised as an Advocate and Solicitor of the High Court of Malaya before joining Kuala Lumpur Stock Exchange (now Bursa Malaysia Berhad) as a legal manager.

In Bursa Malaysia Berhad, she has been involved in the development, interpretation and implementation of the Listing Requirements of Bursa Malaysia Securities Berhad. Presently, under her current position as Head of Enforcement, Group Regulation of Bursa Malaysia Berhad, she is in charge of all enforcement matters pertaining to the rules of Bursa Malaysia group including the Listing Requirements.

In addition, she is also involved in other capital market initiatives such as being a member of the Company Law Review Committee set up by the Companies Commission of Malaysia to review the Malaysian Companies Act, 1965 in 2004 and the formulation of the practical handbook "Corporate Governance Guide-Towards Boardroom Excellence" issued by Bursa Malaysia Berhad in June 2009 to assist board of directors in applying the principles and best practices of corporate governance.

She is also involved in providing trainings to directors of listed companies in Malaysia including as a speaker in the directors' mandatory accreditation program under the Listing Requirements.

Mr. Francisco Ed. Lim
President & CEO
Philippines Stock Exchange

Mr. Francisco Lim is the President and CEO and Director of Philippine Stock Exchange, Inc. (PSE); President & CEO of Securities Clearing Corporation of the Philippines (SCCP); Chairman of the Philippine Stock Exchange Foundation, Inc., (PSEFI) and Capital Market Development Center, Inc. (CMDCI); Director of the Philippine Dealing & Exchange Corporation (PDEx); Trustee of Securities Investors Protection Fund (SIPF) and member of Capital Market Development Council (CMDC) and Financial Executives of the Philippines (FINEX). Professor of the College of Law of the Ateneo de Manila University and the Graduate School of Law of San Beda College, and Professorial Lecturer of the Philippine Judicial Academy. Chairman of the Technical Work Group on the Collective Investment Schemes Law (CISL) and Former Chairman of the Technical Work Group on Real Estate Investments Trusts (REITS) of the Senate of the Republic of the Philippines. Co-Chairperson of the Sub-Committee of the Philippine Supreme Court on E- Commerce Law and member of Sub-Committees on SEC Cases; Commercial Courts; Revision of Rules Governing Notaries Public; and on Evidence and DNA Evidence.

Mr. Lim has held several leadership posts prior to his role at PSE. He was a Senior Partner (1994-2003) and Co-Managing Partner (2003-2004) of Angara Abello Conception Regala and Cruz Law Offices.

Lim graduated magna cum laude in Bachelor of Philosophy and cum laude in Bachelor of Arts from the University of Santo Tomas. He completed with honors his Bachelor of Laws degree from the Ateneo de Manila University and his Master of Laws degree from the University of Pennsylvania, USA.

Ms. Yeo Lian Sim
Senior Executive Vice President
Singapore Exchange (SGX)

Ms Yeo is Senior Executive Vice President and Head of Risk Management & Regulation group, which is responsible for maintaining a robust regulatory framework for SGX's operation of a fair, orderly and transparent market. The group encompasses member supervision, issuer and sponsor regulation, market surveillance, enforcement, risk management, and regulatory policy. It also works closely with the Monetary Authority of Singapore (MAS) in developing and enforcing rules and regulations for market participants. Ms Yeo has been with SGX since July 2004.

Before SGX, Ms Yeo was at Temasek Holdings, where she was responsible for capital resource management. For most part of her career, she was at MAS where she held responsibilities in various areas, namely, managing the Singapore dollar exchange rate, money market operations and the investment of foreign reserves, as well as overseeing the regulation of the securities and futures markets.

Ms Yeo graduated with Honours in Economics and Political Science from the University of Singapore and holds a Master’s degree from the London Business School, UK.

Prof. Gunter Dufey
University of Michigan – Business School

"GD" as he is known by friends and colleagues, is Professor Emeritus of The University of Michigan Ross School in Ann Arbor, MI USA and Professorial Fellow at Nanyang Business School, Singapore.

Parallel to his academic career, he worked for extended periods with a number of multinational companies and government agencies, such as Dow Chemical, the US Department of the Treasury, Texas Instruments, The Ministry of Finance – FAIR in Tokyo and the Pacific Rim Bankers Program, Seattle. USA. He continues to serve on the Boards of Guinness/Atkinson, USA and several subsidiaries of GMAC, Detroit and Toronto. He participates in managing the portfolios of several foundations. From 09/01 to 02/03 he was employed with McKinsey and Co. in Singapore, supporting the firm's Corp. Governance practice in Asia.

GD is a member of the Singapore Institute of Directors and serves currently on the Advisory Board of Corporate Governance and Financial Reporting Centre, NUS Business School. GD divides his time between homes in Ann Arbor and Singapore.

Mr. Wilson Woo
Partner – Financial Services
Ernst & Young LLP

Wilson is a partner in the Financial Services practice at Ernst & Young LLP.

He is a specialist in the banking and financial sector, with extensive experience in a full range of banking activities, such as treasury, corporate banking, private banking, investment banking, fund management and retail banking.

He has over 20 years of experience in financial audit and advisory services to banks and financial institutions in Asia Pacific Region.

Wilson is the Singapore firm's subject matter specialist on financial instruments and structured transactions.
He is a leader of the IAS 39 Task Force in our Singapore firm, ensuring clients’ compliance with IAS 39 as well as to provide advisory services on specific IAS 39 related issues.
He is a member of the steering committee of Ernst & Young's Financial Instrument Working Group that is responsible for providing technical interpretations of complex accounting matters.
He is also a member of the Institute of Certified Public Accountants of Singapore Banking and Finance Committee.

Mr. John Doyle
Deputy Chief Investment Officer
UOB Asset Management Ltd

Mr. John J. Doyle III, Executive Director and Deputy Chief Investment Officer of UOB Asset Management Ltd (UOBAM) joined UOBAM in 2001 as a portfolio manager covering Global Financial Institutions. In January 2005 he was appointed to Head of International Equity team and assumed responsibility for the investment team managing the firm’s Global Equity portfolios. He concurrently continues to serves as head of Financial Institutions Research on the team. Today the International Team has primary coverage responsibilities for all markets outside of Asia including US, Europe, Japan, Australia and Canada as well as developing markets in Latin America and EMEA. The team works closely with the dedicated research teams covering the Asia to manage global equity mandates on behalf of clients. In September 2005 Mr. Doyle was promoted to Deputy Chief Investment Officer. He has nearly 20 years of investment experience. In 2008, Mr. Doyle was promoted to Executive Director. Prior to joining UOBAM, Mr. Doyle was an Associate Director with Salomon Smith Barney in Singapore, where he was a member of the Asian Financial Institutions equity research team. Prior to that, he worked for UBS Securities (Singapore) and MeesPierson Securities (Hong Kong) where he had similar responsibility. Mr. Doyle graduated with a Bachelor of Arts (Economics) degree from the University of Vermont in 1988.

Mrs. Lee Suet Fern
Senior Director
Stamford Law Corporation

Lee Suet Fern is the Senior Director of Stamford Law Corporation. She has extensive work experience with a focus on mergers and acquisitions, equity and debt capital markets and corporate finance. Suet Fern has been involved in many of Singapore's most significant corporate transactions and has been named as a leading practitioner in numerous professional publications including Chambers Global Guide to the World's Leading Lawyers, Asia Law Leading Lawyers, The International Who's Who of Business Lawyers and Corporate Governance Lawyers, The International Who's Who of Banking Lawyers, PLC Which Lawyer?, Euromoney World's Leading M&A Lawyers, Euromoney World's Leading Capital Markets Lawyers, PLC Cross-Border's Equity Capital Markets and The International Who's Who of Capital Markets Lawyers. She has been bestowed the inaugural Asian Legal Business Life Time Achievement Award and was featured in the book 100 Inspiring Rafflesians.

Suet Fern is President-Elect of the Inter-Pacific Bar Association and has been a council member of the International Bar Association. She is a Fellow of the Singapore Institute of Directors, a board member of the National Heritage Board chairing the National Heritage Fund Management Committee, a member of the Advisory Board to the Law School at Singapore Management University and a trustee for Nanyang Technological University. She also serves on the boards of several public listed companies and was the Chairperson of the Disciplinary Committee from 1 September 2002 to 30 November 2008.

Mr. JJ Moreno
Vice President
Corporate Governance Office, Philippines Stock Exchange

Mr. Moreno is a Vice President of the Philippine Stock Exchange (PSE) where he is responsible for corporate governance, enterprise risk management (ERM), strategy management and responsible business/CSR. He has over 12 years experience in training, policy advocacy & development, and providing capacity building services to a wide spectrum of organizations in the area of corporate governance, responsible business/CSR, board directorship, strategy management and enterprise reform.

Mr. Moreno currently serves as a member of the OECD's Global and Asian Network on Privatization and Corporate Governance for State-owned Enterprises, OECD's Asian Task Force on Related Party Transactions, and is an Adviser to the OECD-Asia Roundtable on Corporate Governance. He is also the Officer-in-Charge for the PSE's Co-chairmanship of the Asian & Oceanian Stock Exchanges Federation (AOSEF) Task Force on Corporate Governance.

Before joining the PSE, Mr Moreno served as the Founding Executive Director of the Institute of Corporate Directors (ICD) – the Philippine's leading corporate governance and directorship institution. In 2003, Mr. Moreno was appointed by President Arroyo as the Executive Director of the President’s Governance Advisory Council (GAC). Prior to these, he served in various shipboard and shore-based assignments, performing both administrative and combat duties, in the Philippine Navy and General Headquarters, Armed Forces of the Philippines. Mr. Moreno retired from active military service with the rank of Lieutenant Commander.

Mr. Moreno took advance studies in Corporate Governance from the Yale School of Management in New Haven, Connecticut, and the Australian Institute of Company Directors in Sydney, Australia. He also took advanced studies in Responsible Business from the International Center for Corporate Social Responsibility (ICCSR) at the Nottingham University Business School in Nottinghamshire, UK.

A recipient of the prestigious Chevening Fellowship from the UK Government, he received his MBA from the Asian Institute of Management and Melbourne Business School (under the International Student Exchange Program). Mr. Moreno earned his BSc degree from the Philippine Military Academy in 1993.

Mr. Lawrence Kwan
Vice President
Singapore Association of the Institute of Chartered Secretaries and Administrators

Lawrence Kwan is a fellow member (FCIS) of the Institute of Chartered Secretaries and Administrators, UK. He is currently the Vice Chairman of the Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA) and also chaired the Corporate Secretarial Practice subcommittee of SAICSA. He is an Independent Director of a company listed on the Singapore Stock Exchange and is also a Board member and Audit Committee member of the Accounting and Corporate Regulatory Authority (ACRA) of Singapore. He also holds a Master of Business Administration degree from the University of East London, a graduate member (GAICD) of the Australian Institute of Company Directors and a member of the Singapore Institute of Directors.

Prof. Paul Malatesta
University of Washington Business School

Dr. Paul H. Malatesta joined the faculty of the University of Washington in 1980. He is a Professor of Finance and the Norman J. Metcalfe Faculty Fellow at the University of Washington Business School. His academic research and teaching interests focus on corporate finance, especially corporate governance, corporate acquisitions, securities offerings, and privatization of state-owned enterprises. Professor Malatesta's research papers have been published in the American Economic Review, the Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and elsewhere. His works have been cited more than 500 times in the academic literature.

Professor Malatesta has been a Managing Editor of the Journal of Financial and Quantitative Analysis since 1987. The Journal is considered by academics to be among the most widely read, selective, and prestigious peer reviewed publications in the field of finance. Less than ten percent of the papers submitted to the Journal for review are accepted for publication. The Journal's associate editors and ad hoc referees review approximately 600 submissions per year.

In addition to his academic experience Professor Malatesta has consulted with various government and business organizations, including the United States Navy, Eastman Kodak Corporation, and Weyerhaeuser Company. He has also served as a Research Associate for the Weyerhaeuser Company Pension Fund Investments group and as a Managing Director of the investment management firm Benchmark Plus Partners, LLC.