SINGAPORE (April 5): A Singapore government-backed group wants to double women’s representation on company boards to 20% by the end of the decade in what it says would be a "big challenge" catching up with other countries in terms of having more females in the upper echelons of management.

The Diversity Action Committee issued on Tuesday a six-step plan to encourage more women on the boards of companies listed in the city state where they made up 9.9% at the end of last year.

The committee’s six-step plan includes:

  • Requiring companies to disclose diversity policies. Recommendation made to Monetary Authority of Singapore; Code of Corporate Governance under review
  • Getting companies to reveal how board compositions are suitable for business needs, drawing women directors from outside traditional pool of friends and contacts
  • Helping firms get in-depth understanding of diversity benefits
  • Encouraging investors to enthuse firms to move forward on diversity
  • Encouraging studies on significance of women’s board participation
  • Working with groups to promote board diversity; support efforts

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