Press Releases

SIAS Incorporates Sustainability As Key Criteria In Singapore Corporate Governance Award For The First Time

New award criteria – SMART – is jointly developed by the NUS Centre for Governance and Sustainability The Sustainability Award, which used to be a standalone award, has been incorporated into the Singapore Corporate Governance Award This is part...

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Press Statement: Outcome of the SPH shareholders’ vote today

The overwhelming support for the two resolutions today paves the way for SPH shareholders to now consider the privatisation proposal of SPH by Keppel Corp. I am confident that the shareholders of SPH will do what is good for them. It...

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Press Statement: SIAS supports SPACs with independent reports and guidance

The introduction of SPACs in Singapore will provide retail investors with new investment opportunities. SPACs make venture capital and private equity investments more democratic because shares in a SPAC, that is listed on a stock exchange can be acquired by...

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Press Statement: Offer by Keppel/SPH Deal

The privatisation offer by Keppel for SPH, values SPH shares at $2.099 per share. While offer price is above current trading price of SPH, it does represent a slight discount to NAV of $2.26 per share. However this is conditional...

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Press Statement: Utico’s intended offer

UTICO FZC Attention: Mr. Richard Menezes Dear Richard, SIAS refer to: the hearing of HC/CWU 89/2021 and HC/CWU 90/2021 held before the Honourable Justice Aedit Abdullah (“Judge”) on 12 July 2021; and your draft affidavit which was circulated to the...

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Press Statement: Questions to Sembcorp Marine on its latest proposed Rights Issue

To Sembcorp Marine Ltd Attn: Mr Wong Weng Sun, President & CEO There is great concern amongst Sembcorp Marine’s (SCM’s) minority shareholders. With the previous major S$2.1 billion rights issuance in 2020 barely reached its first-year mark, SCM is reaching out to...

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Press Statement – ecoWise shareholders should allow time for company to address SGXRegCo’s directives

SIAS is seriously concerned with the developments at ecoWise and is aware of shareholders’ concerns regarding the issues and the disagreements between Mr Lee Thiam Seng (“Mr Lee”), who is the Chief Executive Officer, and Mr Cao Shixuan (“Mr Cao”),...

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Responses from SIA to SIAS – Questions on MCB Issuance

Reply from SIA to SIAS Questions on MCB Issuance published on 27 May 2021 1. Regarding your intentions to exercise the rights Mandatory Convertible Bond (MCB) issue of S$6.2 billion, in a bid to strengthen the Singapore Airlines (SIA) Group’s financial...

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Press statement – Questions to SIA on MCB Issuance

To: The Board of SIA Through: The Chief Executive Mr. Goh Choon Phong SIA announced its intention to issue an additional S$6.2 billion of mandatory convertible bonds (MCBs), which according to the announcement allows it to navigate the prolonged COVID-19 uncertainty, and to...

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Press Statement – SIAS calls on Sakae to improve internal controls and implement internal audit reporting to AC

Highlights concerns in its review of Sakae 2020 annual report SIAS is seriously concerned about the erroneous accounting entries and internal control weaknesses in Sakae Holdings. The recent announcement by SGX Regco dated 12 May 2021, calls for Sakae Holdings Limited...

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