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NEW UPDATES Asean Affairs  13 October  2015  

SGX to conduct review of listed companies' annual reports

SINGAPORE: The Singapore Exchange (SGX) announced on Monday (Oct 12) that it will be reviewing the annual reports of listed companies to ensure their compliance with the Singapore Code of Corporate Governance, or CG Code.

The announcement was made by SGX Chief Regulatory Officer Tan Boon Gin at the 6th Singapore Corporate Governance Week, which brings together individuals from relevant fields to discuss issues on corporate stewardship and shareholder engagement.

SGX said the review is part of its drive to raise the corporate governance standards of listed companies. The new measure aims to strengthen companies' compliance with the "comply or explain" requirement of the CG Code.

Under the SGX Listing Rules, listed companies are required to explain deviations in their annual reports in cases of non-compliance. This allows investors to meaningfully evaluate the adequacy of companies' disclosures and explanations for deviations.


SGX said the review will cover the annual reports of more than 500 mainboard companies released in the 12 months before June 30, 2015. It also intends to make the findings of the review public, and will engage with the relevant companies to ensure that any shortcomings are addressed.

Mr Tan said: "We will be exploring how to publish the findings from the review on a statistical and no-name basis and highlight the areas that need improvement - providing investors with greater information to make an informed judgement on whether the company has provided adequate disclosures and meaningful explanations for deviation from the code."

SGX will work with auditing company KPMG to carry out the review, which is expected to take four months to complete. The review comes after its introduction of a Disclosure Guidance document in January to help companies comply with key aspects of governance.

On top of covering all aspects of the CG Code, the review will also focus on areas specified in the Disclosure Guidance document, including board composition, risk management and internal controls, and disclosure on remuneration.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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