SIAS’s Response to SGX’s Alternate Proposal to Safeguard Investors of Foreign Issuers Listed on Singapore Exchange

Date: February 19, 2013

SIAS notes that any changes to the Listing Rules arising from the proposals of the Working Committee would be implemented only after public consultation. The market players and professional parties should actively participate in any such public consultation.

Though the alternative proposals have not gone far enough and appear not to meet the expectations of the shareholders fully, given the constrains within the listing rules, it is understandable.

David Gerald
President / CEO