Singapore-listed companies have lifted their governance standards to new highs despite challenges posed by the coronavirus pandemic.

Sats and three CapitaLand real estate investment trusts (Reits) topped their respective categories in a league table released yesterday.

The Singapore Governance and Transparency Index (SGTI) assesses listed companies on their corporate governance disclosure and practices, as well as the timeliness, accessibility and transparency of financial results announcements.

The overall SGTI hit an all-time high of 67.9 points compared with 59.3 last year, reflecting corporate Singapore's strong commitment to improving governance and sustainability disclosures.

"It is heartening that the assessment process... was not significantly affected by the pandemic," said Associate Professor Lawrence Loh, director of the National University of Singapore Business School's Centre for Governance, Institutions and Organisations (CGIO).

The SGTI is published annually by CPA Australia, CGIO and the Singapore Institute of Directors (SID).

Prof Loh said the necessary disclosures by firms were largely made well, on time and in line with Singapore Exchange regulations.

"On an even brighter note, companies have achieved remarkable progress, as seen in the all-time high index score. This reflects the strong momentum driven by ongoing regulation enhancements."

Sats topped the index's general category of companies, taking over from Singtel, which had led the ranking for the previous five consecutive years.

Most of the top 10 companies in the category this year saw slight dips in their scores, except Sats, City Developments and Keppel Corporation, which improved their tally.

Singapore Post made the most notable improvement, jumping 20 places to 12th this year.

CapitaLand held its dominance in the Reit and business trust category, with subsidiaries CapitaLand Commercial Trust, CapitaLand Mall Trust and Ascott Residence Trust in the top three positions.

Ms Lynette Leong, CapitaLand's chief sustainability officer, said: "We integrate sustainability in our business strategies... and strong corporate governance is the cornerstone of our organisation's resilience."

NetLink NBN Trust, Cromwell European Reit, Manulife US Reit and OUE Commercial Reit each jumped over 20 spots to the top 10.

Companies in the general category recorded an average score of 67.9, up 8.6 points over last year.

Mean scores have been improving consistently since 2011, with the largest jump recorded this year.

The mean overall score for Reits and business trusts increased by 6.2 points over last year to 84.8.

The index ranked 577 Singapore-listed firms in the general category and 45 trusts in the Reit and business trust section that had released annual reports by June 30 this year.

SID chairman Tham Sai Choy said: "The global pandemic has renewed focus on sustainability reporting and on taking a long-term view. "As companies reassess their business models and strategic outlook, this is an opportune time to recalibrate and emerge stronger from the crisis."