Singapore Exchange Regulation (SGX RegCo)

SGX mulls tweaks to auction routines after Jardine's Jan plunge

SINGAPORE (July 15): The Singapore Exchange Regulation (SGX RegCo) is considering several measures to enhance the auction routines of the local stock market.

This comes in response to the sharp drop in the share price of conglomerate Jardine Matheson Holdings, which occurred during the 30-minute-long pre-open trading session in January.

On one hand, SGX RegCo is mulling over an implementation of a price collar. This mechanism aims to act as hard price limits on the matched auction price, thus preventing the matching of orders beyond a certain range.

SGX's delisting rule changes are commendable; impact on Challenger, IndoAgri would have varied

SINGAPORE (July 12): Two weeks ago, minority shareholders of Challenger Technologies and Indofood Agri Resources (IndoAgri) rebuffed low-ball offers from the controlling shareholders of those companies. Now, the regulation arm of the Singapore Exchange has introduced long-awaited changes to rules related to voluntary delistings that could make it harder for dominant shareholders to take their companies private without properly compensating minority investors.

SGX's delisting rule changes are commendable; impact on Challenger, IndoAgri would have varied

SINGAPORE (July 15): Two weeks ago, minority shareholders of Challenger Technologies and Indofood Agri Resources (IndoAgri) rebuffed low-ball offers from the controlling shareholders of those companies. Now, the regulation arm of the Singapore Exchange has introduced long-awaited changes to rules related to voluntary delistings that could make it harder for dominant shareholders to take their companies private without properly compensating minority investors.

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SGX says shareholder vote to exclude offeror and concert parties; requires exit offers to be fair and reasonable

SINGAPORE (July 11): The Singapore Exchange Regulation (SGX RegCo) has announced changes to two rules related to the voluntary delisting of listed companies.

To take effect immediate, the two changes were implemented after consultation with market participants and the public.

Firstly, the offeror and parties acting in concert with the offeror must abstain from voting on the voluntary delisting resolution.

The 10% block in its voluntary delisting rules has also been removed.

Auditing the auditors

SINGAPORE (June 10): Audit firms have been in the crosshairs of investors and regulators in recent years, and little wonder.

There has been a spate of corporate scandals over the last couple of years, for reasons ranging from poor financial management and excessive valuations of assets, to outright theft and fraud. Each of the scandals emerged despite their financial statements having being given the all-clear by auditors for years. They have left scores of retail investors out of pocket and many wondering about the effectiveness and reliability of auditors.

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Auditing the auditors

When years of clean audits end up costing investors dearly, industry reform is urgently needed.

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Striking the right regulatory balance, building a market that everybody wants

SINGAPORE (June 10): Tan Cheng Han, chairman of Singapore Exchange Regulation (SGX RegCo), kicked off the SGX Regulatory Symposium 2019 on May 31 with a retelling of the fairy tale of Goldilocks, the little girl who enters the forest home of a family of bears and sits on their chairs, eats their porridge and finally sleeps in their beds. “Goldilocks had three choices, and on each occasion she only came to what was right for her on the third attempt.

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How making the 'right' choice is trickier than you think

SINGAPORE (June 7): Tan Cheng Han, chairman of Singapore Exchange Regulation (SGX RegCo), kicked off the SGX Regulatory Symposium 2019 on May 31 with a retelling of the fairy tale of Goldilocks, the little girl who enters the forest home of a family of bears and sits on their chairs, eats their porridge and finally sleeps in their beds.

Annica chairman Ong quits just as $33 mil goes missing at his law firm JLC

SINGAPORE (May 27): Jeffrey Ong, managing partner of law firm JLC Advisors, may have given instructions to pay out a sum of $33.2 million held in escrow by his firm for a client, Allied Technologies. According to Allied’s statement filed with Singapore Exchange on May 23, the payment may have been “unauthorised”, citing a letter it received from JLC on May 22. Allied’s statement did not specify who the payment was made to.

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SGX RegCo sees targeted approach in enforcement, more powerful market discipline

SINGAPORE (May 27): Tan Boon Gin, CEO of stock exchange regulator Singapore Exchange Regulation, says the market can expect a stronger regulatory presence. “You will see a series of enforcement cases coming up quite soon,” he tells The Edge Singapore.

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