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Independent equity research on SGX-listed small and mid caps, and regulatory updates for listed issuers. Every report has a page, a summary and the PDF.
1 Climate reporting requirements updates Overview The Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) have extended the timelines…
SGX RegCo has enhanced its sustainability reporting framework by requiring the incorporation of the IFRS Sustainability Disclosure Standards (IFRS S1 - General Requirements for Dis…
Background Following the public consultation issued in March 2024, SGX RegCo had on 23 September 2024 enhanced its sustainability reporting regime, which includes incorporating the…
BACKGROUND Chapter 8 of the Mainboard Rules and Catalist Rules sets out the rules that issuers need to comply with when conducting a rights issue, including the information that ne…
Background Under the SGX Listing Rules, an independent financial adviser (“IFA”) must be appointed by directors for exit offers, interested person transactions (“IPT”) and, in some…
BACKGROUND SGX RegCo published a Regulator’s Column on 27 April 2023, outlining the relevant rules and regulations governing shareholders’ requisitioned meetings, procedural requir…
Background On 19 April 2023, the Singapore Exchange Regulation (SGX RegCo) provided further guidance on the conduct of general meetings, particularly on the expectations and standa…
BACKGROUND SGX RegCo has announced on 11 January 2023 on 2 new rule changes on (1) 9-years limit of Independent Directors’ (“IDs”) tenure, and (2) Mandatory disclosure of remunerat…
Cyber Risk, Cyber Resilience, Cybersecurity? Arising from the COVID-19 pandemic, companies are forced to accelerate digitalization of operations, such as adapting to Emeetings, nov…
Did you know there will be major changes to the GRI reporting framework on 1 Jan 2023? GRI Standards 2021 is effective for sustainability reports published on or after 1 January 20…
Public Disciplinary Action by SGX RegCo On 5 May 2022, the SGX-ST Listings Disciplinary Committee reprimands Ang Nam Wah Albert for breaching Catalist Rule 703(1)(a), read with Cat…
Background Amid the COVID-19 pandemic, virtual general meetings have become the norm following the introduction of temporary legislative relief. The virtual format of meetings has …
Background SGX RegCo had on 5 May 2022 issued an article in the Regulator’s Column on its expectations of directors under the Listing Rules. These expectations are consistent with …
Background On 1 March 2022, SGX RegCo has provided a business valuation guideline for acquisitions or disposals that meets the Listing Rule thresholds for very substantial acquisit…
Background SGX RegCo had on 16 December 2021 issued an article in the Regulator’s Column on the expectations on the conduct of issuers’ general meetings amid the extension of the t…
Background Following the public consultation paper issued on 26 August 2021, SGX RegCo had on 15 December 2021 released its roadmap for climate reporting and board diversity disclo…
Background On 15 December 2021, SGX RegCo published a recommended list of 27 core ESG metrics (“Core ESG Metrics”) for the purpose to align investor requirements and provision of E…
Background On 13 December 2020, SGX RegCo has issued a regulatory column to issuers on what Nominating Committees should consider when faced with a situation where directors of lis…
Background SGX RegCo had on 24 June 2021 issued a news release on the requirement of issuers of having a whistleblowing policy with updated Key Requirements (defined herein), and t…
1. Updated Guidance Note on Accounting Standards for Financial Statements SGX RegCo’s Guidance Notes ▪ On 4 May 2021, SGX provided its guidance note entitled, "Guidance Note on Acc…
Enhancements to Regulatory Regime for Property Valuation and Auditors Between 16 January 2020 and 14 February 2020, SGX issued a consultation on “Enhancements to Regulatory Regime …
Regulatory Updates – 2021 Audit Committee (AC) Seminar (ACRA/SGX/SID) On 12 Jan 2021, the annual Audit Committee Seminar for 2021 was held by ACRA, SGX RegCo and SID. In this year’…
SGX RegCo 2021 Regulatory Updates - Directors / Executive Officers Under Investigation To recap, on 7 Feb 2020, enhancements made by SGX RegCo to the continuous disclosures of the …
FY2021 Sponsor Dialogue On an annual basis, SGX and the sponsors are gathered for a sponsor dialogue to discuss on case studies and regulatory matters. On 27 November 2020, the spo…
Previously on 22 April 2020, SGX RegCo had provided regulatory guidance to issuers on the disclosure expectations of material developments arising from the Covid situation. In view…
SGX RegCo and the Law Society of Singapore (“LawSoc”) have jointly issued a Best Practice Guide (the “Guide”) on 26 June 2020 to set out certain recommendations and best practices …
SGX RegCo has issued a regulatory column on 22 April 2020 (Please click here) to guide issuers on its expectations on the disclosures of issuers during the COVID-19 outbreak and th…
Amendments to the Quarterly Reporting Framework In January 2018, SGX issued a consultation on “Review of the Quarterly Reporting (“QR”) Framework” for companies listed on SGX to ga…
Enhancements to Continuous Disclosures In December 2017, SGX issued a consultation on “Enhancements to Continuous Disclosures” to seek feedback on proposed amendments to the Catali…
Sustainability Reporting Review On 4 December 2019, the Centre for Governance, Institutions and Organisations (CGIO) at NUS Business School performed a review and assessment of the…
Guidance by SGX on Cessation Announcements of Key Persons Issues with cessation of key officers and directors were discussed by SGX via sponsor dialogues (i.e. 8 May 2019 and 12 No…
New Updates to the SGX-ST’s Guidelines for Assessment of Suitability of Professional Parties The SGX-ST released an article to Sponsors for Catalist issuers on 16 July 2019 laying …
New Changes to the SGX-ST’s Voluntary Delisting Regime For the first half of 2019, there were 11 delistings 1 seen in the Singapore market which is the same number of delistings 1 …
Regulatory Updates: SGX had on, 26 November 2018, published a Regulator’s Column setting out what companies should observe when conducting Share Buy-backs. It also sets out the con…
What is an Initial Coin Offering (ICO)? An ICO is the rough equivalent to an Initial Public Offering (IPO) in the finance world where a company seeks public funding for its cryptoc…
Background The Governance & Transparency Index (GTI) was started in 2009, with the intention of assessing the governance, transparency and investor relations of listed companies in…
Background: In January 2018, SGX launched a public consult seeking feedback on listing rule changes and revisions of the Code of Corporate Governance issued in May 2012 (“Current C…
Background: In April 2018, SGX initiated a “SGX Fast Track Programme” to recognise and encourage listed issuers that have good corporate governance standings and good compliance tr…
Regulatory Updates November 2017 In March 2017, SGX conducted a public consultation exercise to seek Market feedback on listing rules amendments regarding its trading platform. Fol…
Every research report we publish on Singapore-listed companies, and a short plain-English note whenever SGX changes a rule that affects listed companies.
Two to three reports a month. Rule-change notes three or four times a year. Nothing else.
