Women's Representation in Singapore Corporate Boards Hits All Time High

A study has found that the total number of women directorships in Singapore Exchange-listed companies in addition to statutory boards and charities reached a high in the year 2023. Estimating, over half of 1000+ organisations reviewed exceeded voluntary board gender diversity targets while having all-male boards on the decline.

The participation of women on boards have tripled resulting to 23.7% by the end of the years 2023 in comparison with 7.5% in the year 2013 which were mentioned in 100 SGX-listed companies by market capitalisation. According to the statutory boards, an increase of almost 10 percentage points has been reported in the participation of women on boards from the year 2018 while reaching 32.7% last year.

In a statement on June 6, 2024, Masagos Zulkifli, the Minister for Social and Family Development said, “The progress in women’s participation on boards across the people, public and private sectors reflect a growing recognition on the importance of having gender diverse boards. It is not just a metric of good governance, but of strategic decision-making – giving equal opportunity to all who meet the requisites, and thus tapping a wider talent pool. This is critical as more than ever before, it takes diverse perspectives, skill sets and experience to tackle the complex issues of the future.”