Capital Markets, Listed Entities & M&A

Dos and Don'ts for Financial Reports Amid COVID-19: SGX RegCo's Expectations

The COVID-19 pandemic has created "significant uncertainty, or even threats to business prospects" to issuers listed on SGX-ST Mainboard and Catalist ("listed issuers"). Emphasising the need for "high quality and reliable financial statements", the Singapore Exchange Regulation ("SGX RegCo") recently issued a statement on the Regulator's Column on 27 July 2020, setting out its expectations of financial reports, including interim financial reports ("27 July 2020 Statement").

This Update highlights salient points raised by SGX RegCo in its 27 July 2020 Statement which listed issuers, their boards of directors, and management must take note of in preparing financial reports, including interim financial statements.