Singapore Exchange Regulation (SGX RegCo)

SGX RegCo orders independent review of Best World by PwC to be expanded
SINGAPORE (May 13): Singapore Exchange Regulation (SGX RegCo) has issued a notice of compliance on Best World International, to expand the scope of an on-going review by PwC. As part of the expanded review, PwC is to also audit the veracity of Best World’s sales in China, largely via an entity called Changsha Best. PwC, which was appointed in March, is to also obtain an independent legal ...
SGX RegCo suspends Best World amid fresh attacks by short sellers
SINGAPORE (May 9): The past couple of months have been tough on direct selling firm Best World International. But now, it looks like even tougher times lie ahead. From a high of $3.33 in February this year, shares in Best World have plunged more than 59% to $1.36 as at May 9, following attacks and doubts cast on its business and practices. And now, Singapore Exchange Regulation (SGX RegCo) ...
Best World admits owner of China import agent is CEO's brother-in-law
SINGAPORE (May 13): Best World International, whose shares have been suspended by SGX RegCo, has admitted to a relationship between its primary import agent in China that wasn’t previously disclosed. See: SGX RegCo suspends Best World amid fresh attacks by short sellers See also: SGX RegCo queries Best World; expects full independent review See also: Best World shares down 9% on ...
SGX RegCo suspends Best World amid fresh attacks by short sellers
SINGAPORE (May 9): The past couple of months have been tough on direct selling firm Best World International. But now, it looks like even tougher times lie ahead. From a high of $3.33 in February this year, shares in Best World have plunged more than 59% to $1.36 as at May 9, following attacks and doubts cast on its business and practices. And now, Singapore Exchange Regulation (SGX RegCo) ...
Ayondo pushes ahead with sale of unit; SGX RegCo launches probe
SINGAPORE (May 8): Things aren't going well at trading platform Ayondo. And that is an understatement. Barely a year after its IPO, losses have mounted at the fintech firm, and its CEO and founder Robert Lempka has left in huff. Lempka has since filed a claim against the company for unpaid money. Two other C-suite executives – CFO Richard Fulton and CMO Sarah Brylewski – have also left, ...
SGX RegCo queries Best World; expects full independent review
SINGAPORE (Apr 24): The Singapore Exchange Regulation (SGX RegCo) says that it is aware of the short-sell reports on Best World that was published earlier today, which led to a 9.0% plunge in Best World shares to close at $1.62 on Wednesday. Trading of shares in Best World has been halted. In an email to The Edge Singapore, SGX RegCo says, “SGX RegCo is aware of Bonitas Research’s ...
Stonewalling by management on audit matters led Camsing Healthcare IDs to quit
SINGAPORE (Apr 8): By resigning en masse on Mar 20, it was the intention of the three former Camsing Healthcare independent directors (IDs) to force management to address critically important audit concerns, despite outstanding audit matters. This was the explanation given by former IDs Lau Chin Hock Kenneth Raphael, Ong Wei Jin and Maurice Tan Huck Liang after Singapore Exchange Regulation ...
What is the future of the Singapore stock market?
Amid the slow pace of IPOs, the lure of private-equity funding, and a string of corporate scandals, it might seem like the local stock market has seen better days. Our distinguished roundtable panellists do not entirely share that perspective, but they do see some big challenges ahead. SINGAPORE (Nov 26): The health and vibrancy of the local stock market has always been close to the hearts of ...
SGX hones ability to scrutinise asset valuations, pressures auditors — will it close the ‘trust deficit’?
SINGAPORE (Feb 4): On Jan 25, Singapore Exchange Regulation (SGX RegCo) briefed several journalists about its plans to play a more active role in determining the scope of statutory audits of locally listed companies, and beef up its capabilities to scrutinise the value of corporate assets. These new initiatives were at least partly spurred by the collapse of Noble Group amid allegations that ...
SGX RegCo teams up with professional body of valuers to tackle problem of questionable valuations
SINGAPORE (Jan 28): The Singapore Exchange Regulation has enlisted the help of the professional body of valuers, to bring its expertise to bear when listed companies face questions over the value of assets in potential deals. Under a memorandum of understanding signed between SGX RegCo and the Institute of Valuers and Appraisals, Singapore (IVAS), which is part of the Singapore Accountancy ...