Date: April 8, 2020
SGX RegCo has just issued an announcement just now, in which it says: “Accordingly, SGX RegCo will provisionally suspend the half-yearly reviews on the first market days of June 2020 and December 2020 to place issuers on the Financial Watch-List (“Suspension”). The Suspension is to enable our issuers to focus on meeting the current business and economic challenges and dealing with any resultant liquidity crunch. ”
SIAS welcomes this timely assistance by SGX RegCo. This is yet another useful initiative by RegCo of SGX to help Issuers to cope with the ill-effects of COVID-19. It enables the issuers to raise funds to keep their business alive. This is good for not only the Companies but also to their shareholders. We also note the enhancement of the general mandate to 100 percent obtained from shareholders at the AGM or general meetings . This will enable the issuers to raise funds expeditiously to meet liquidity needs. SGX RegCo deserves a pat on the back for its timely assistance rendered to struggling issuers.
David Gerald
Founder, President & CEO
Securities Investors Association (Singapore)
