CHRISTMAS came early this year for companies that found themselves on the Singapore Exchange Fast Track programme list.
The SGX Fast Track programme was launched by the Singapore Exchange Regulation in April last year to reward companies with good corporate governance. The incentive comes in the form of prioritised clearance for selected corporate-action submissions to SGX RegCo. These include circulars, requests for waiver and applications for share placement.
This year, some 36 companies made their debut on the Fast Track, SGX announced on Tuesday. Most of them are mainboard-listed companies while three are from the Catalist: Asian Healthcare Specialists, SLB Development and Union Gas Holdings. This is in addition to the 59 companies that remained on the list since April last year, bringing the total number on the Fast Track to 95.
Starting this year, companies will stay on the Fast Track for two review cycles, said SGX RegCo head of listing compliance June Sim in her opening speech at the 2019 SGX Fast Track companies launch on Tuesday.This means companies which entered Fast Track in April 2018 will continue to be on it till the review in 2020. The new entrants, on the other hand, will be reviewed in 2021.