Transparency Key To Overcoming Corporate Crisis And Scandal, APEC Corporate Restructuring Conference in Singapore

Representatives from APEC member economies will meet at the Regent Hotel in Singapore on November 21-22 to identify priorities and obstacles for effective corporate restructuring and governance.

Chair of the APEC Economic Committee and President Korean Institute for International Economic Policy, Dr. Choong-Young Ahn, said improved corporate governance is crucial for the anticipated economic upswing in the region.

"Transparent and effective corporate governance are essential if the Asia-Pacific region is to achieve higher rates of economic growth in the coming years," said Dr. Ahn.

The high profile corporate scandals of this past year and the Asian currency crisis are examples of the harm caused by a lack of transparency in corporate governance.

Particularly for Asia effective corporate governance is required to insulate the banking sector from future potential economic shocks.

At this forum representatives of APEC economies will provide case studies of projects to restructure non-performing assets in their economies. These presentations will be made on November 21.

The second day of the conference, November 22, will be dedicated to guest speakers who will identify and provide brief analysis of the primary issues surrounding corporate restructuring.

"The forum will also launch a survey for distribution to the governments and the private sector in member economies. The survey is designed to identify impediments and issues relating to corporate restructuring."

This research project on corporate restructuring is an initiative of the United States' Government that was put to the APEC Economic Committee at its meeting in August.

Available for comment:

Venue: The Regent Hotel, 1 Cuscaden Road, Singapore. Telephone: +656733 8888