according to khaw boon wan,
'the key points about corporate govenance, aside from accountability and transparency, is checks and balances. This is not your own company, your own family business. Even if it is your own family business, and you have minority shareholders, you have to be accountable.'
in corporate governance you need watchdogs to watch the professional management. but how can watchdogs be watchdogs if they are appointed by the people they are supposed to watch?