While APMs such as Ebit, Ebitda and free cash flows can be useful to investors when read alongside other information that is provided under the accounting standards, issuers must ensure that APMs do not mislead investors, SGX RegCo said.
In Monday's regulator's column, the SGX laid out its expectations of financial reports amid Covid-19. The regulator acknowledged the"present challenges" faced by issuers in making significant judgements and estimates on asset valuation, but said issuers should rely on the best available information in making"well-reasoned and supported" judgements and estimates.
"While this may be difficult under current conditions, it is precisely in these circumstances that investors need reliable financial information to make informed investment decisions."