Only 8.3% of board directors in Singapore are women: study

All-male boards are a whopping 57%.

According to the study by the Diversity Task Force regarding women on boards (DTF) reveals that only 8.3% of director positions (i.e. directorships) are held by women.

Mrs Mildred Tan, Chairperson of the DTF, said “The DTF is very pleased with the robustness of our study findings. I would like to once again thank the Chairpersons, Board Directors and CEOs who participated in our study. The DTF has obtained very meaningful insights into the state of gender diversity in Singapore. With this, we look to formulate sound recommendations to bring about changes that will benefit Singapore and our companies.”

As at Apr 2013, women only hold 8.3% of directorships in SGX-listed companies. This is below countries such as Malaysia (8.7%); China (9%); Hong Kong (9.4%); Australia (17.3%); and United Kingdom (19%) . The percentage of all-male boards among SGX-listed companies is 57%.

There is low awareness about the importance and benefits of gender diversity among SGX-listed companies, and little is being done to improve gender diversity.

Among the companies surveyed, only 33% agree that gender diversity at board level is important. Overall, companies are not yet convinced of the benefits of gender diversity on boards.

Little is being done to improve the situation. While 55% of companies say they ensure transparent criteria in recruiting directors, only 12% of companies include boardroom diversity on the agenda of board meetings; 6% measure the achievement of board gender diversity objectives; and 5% review annually board gender diversity objectives and the progress in achieving these objectives.