SINGAPORE: Companies listed on Singapore Exchange will no longer be required to file quarterly reports, in line with practices in global markets including Hong Kong, the United Kingdom and the European Union, the bourse's regulatory unit said.
SGX, a global listing hub for business trusts and real estate investment trusts, has taken several measures in recent years to shore up market liquidity, improve quality of listings and strengthen its regulatory framework after a penny stocks crash in 2013 battered investor confidence. "In a rapidly evolving business landscape, it is important for companies to take a long-term perspective on growth, while communicating meaningfully with their stakeholders on how they are navigating through these changes," said SGX RegCo's CEO Tan Boon Gin.Singapore Exchange began reviewing mandatory quarterly reporting for companies in 2017 and conducted public consultations, citing a need to balance transparency for investors with concerns about rising compliance costs.
"One good outcome is that this would enable companies greater scope to look after their other stakeholders and not just their shareholders.”
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