Appointment of Dr Tony Tan Keng Yam as first Chief Patron of SIAS
Date: 31 October 2017

SIAS is pleased to announce that Dr Tony Tan Keng Yam, former President, has kindly accepted our invitation to become the first Chief Patron of SIAS with effect from 12 October 2017.

China Fibretech reconstitutes Board with Singapore professionals
Date: 24 October 2017

For some time, shareholders of the SGX listed S-Chip, China Fibretech, have been suffering following the claims in November 2015 (and subsequent payment) against China Fibretech’s wholly-owned subsidiary, Shishi Simwa Knitting & Dye Co, Ltd, by three of its customers for a total compensation amount of RMB 466,047,380.00. Since then, the shares of the company have been suspended and the auditors have not been able to complete the audit. The auditors complained of not having access to the bank statements and have been unable to verify the cash at bank. This has been a serious concern to shareholders.

Launch of the ‘World Investor Week in Singapore’
Date: 26 September 2017

Singapore, 26 September 2017…MoneySENSE, together with the MoneySENSE-Singapore Polytechnic Institute for Financial Literacy (IFL), the Securities Investors Association (Singapore) (SIAS) and the Singapore Exchange (SGX), will organise the inaugural “World Investor Week in Singapore (WIWS) from 2 to 6 October 2017.

Themed “Investing with Confidence”, WIWS is organised in conjunction with the World Investor Week (WIW), spearheaded by the International Organisation of Securities Commissions (IOSCO)1. Over the course of a week, securities regulators from around 70 countries will organise activities around financial education to raise investors’ awareness on the importance of financial know-how and investor protection.

Pros and cons of Cosco’s proposed asset sale
Date: 23 August 2017

First published on Business Times on 23 August 2017

Move appears to be in the interest of shareholders but they need to ask questions about future plans at EGM

The shipping, offshore maritime, oil and gas sectors have been suffering the effects of a very daunting market conditions amidst an unprecedented and protracted industry downturn. The effect of the downturn has seen billions wiped out from the market capitalization of these companies. Some of these companies, once the darlings of market, much to the disappointment of investors have now sort court protection. While many are pursuing efforts to restructure their debt and improve their balance sheets, a few have already gone into or commenced liquidation. The effect of a liquidation destabilizes the confidence of investors.

Iceberg's Criticism does not take note of improvements by Noble
Date: 10 August 2017

To the Editor
Business Times

First published on Business Times on 10 August 2017

Dear Editor,

I refer to the Business Times’ articles published on 4 and 5 August 2017 on Iceberg’s latest report on Noble Group Limited.

SIAS has been following the developments at Noble. We are pleased that Noble has shown willingness to engage with retail investors, including issuing results guidance and holding shareholder engagements. We have also observed greater transparency in Noble’s financial statements in recent quarters including information on fair value gains and associated companies. Noble’s financial statements for 2015 and 2016 also received clean audit opinions from one of the international big four accounting firms, Ernst & Young in Hong Kong, which is expected to have robust internal processes to ensure quality auditing.

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