On 12 January 2021, the Singapore Exchange Regulation announced key changes to the SGX-ST Mainboard Rules and Catalist Rules (collectively, the “Listing Rules“). These changes enhance requirements concerning the appointment of auditors by certain listed issuers and property valuation matters.
The amended Listing Rules introduce a new requirement for primary listed issuers on SGX-ST to appoint an auditor registered with the Accounting and Corporate Regulatory Authority to conduct their statutory audits and empower SGX to require the appointment of a second auditor under certain circumstances. The amended Listing Rules also impose minimum qualification criteria for property valuers and prescribed standards for property valuation reporting.
The amendments to the Listing Rules will be effective from 12 February 2021.
This Update provides an overview of the main changes to the Listing Rules, highlights salient requirements and specific timelines for the implementation of certain requirements.
For more information, click here to read the full Legal Update.
