Press Statement on SGX proposals on enhancing continues disclosures

Date: December 7, 2017

SIAS welcomes the move by SGX to improve the continuous disclosure requirements. Shareholders, for some time now, have been calling for more visibility and accountability for the rationale for fund raising and how the funds to be used. They have also been questioning the related party transactions and the need for them. The current proposals will satisfy the shareholders on these matters. The requirements on significant transactions and loans would be beneficial to shareholders. In most cases, SIAS is confident that the boards and senior managements will do the right thing by satisfying their shareholders on their actions.

Companies should aim to adhere to high standards of ethics and communicate their actions adequately to their stakeholders. The proposed enhanced disclosure requirements are in the right direction and will help raise the level of transparency and accountability, thereby improving the level of confidence in our market.

David Gerald
Founder, President & CEO
Securities Investors Association (Singapore)