eOASIS HOME  
LEGAL UPDATES  
NEWSBYTES
REGIONAL ROUND-UP
AUTHORED PUBLICATIONS
RTA COVID-19 RESOURCE CENTRE
ARBITRATION ASIA
 
 
 

Legal Updates

Legal Updates for March 2024

Mandatory Climate Reporting for Listed Issuers from FY 2025, and Large Non-Listed Companies to Follow from FY 2027
On 28 February 2024, the Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation ("SGX RegCo") announced details of mandatory climate-related disclosure for: (1) issuers listed on the SGX-ST ("listed issuers") from financial year ("FY") 2025; and (2) large non-listed companies limited by shares with annual revenue of at least S$1 billion and total assets of at least S$500 million ("Large NLCos") (unless exempted) from FY 2027, as part of a finalised climate reporting and assurance implementation roadmap set out in the Response paper. This is following consultations on the recommendations from the Sustainability Reporting Advisory Committee.

SGX RegCo is separately conducting a public consultation on its proposals on the amendments to the listing rules of the SGX-ST to implement the above recommendations, as set out in its Consultation Paper on "Sustainability Reporting: Enhancing Consistency and Comparability" issued on 7 March 2024. The consultation closes on 5 April 2024.

This Update provides a snapshot of the upcoming and/or anticipated key mandatory climate reporting requirements for listed issuers and Large NLCos.

SGX RegCo Seeks Feedback on Enhancing Listing Rules on Restructuring and Trading Resumption Processes for SGX ListCos
The Singapore Exchange Regulation ("SGX RegCo") is seeking comments on its proposed changes to the SGX Listing Rules (Mainboard) and SGX Listing Rules (Catalist) to clarify the obligations of issuers listed on SGX-ST ("issuers") undergoing the corporate restructuring process under Insolvency, Restructuring and Dissolution Act 2018 of Singapore, and to streamline the application process for trading resumption by suspended issuers. If implemented, the changes will enable issuers to conduct restructuring more efficiently, while reducing the regulatory burden in the restructuring process. The public consultation closes on 22 March 2024.

This Update provides a summary of SGX RegCo's key proposals to improve the restructuring and trading resumption frameworks.

ACRA Consults on Draft Bill to Enhance Data Privacy, Facilitate Digital Communications with ACRA, Streamline Foreign Companies' Financial Reporting Requirements
On 5 March 2024, the Ministry of Finance and the Accounting and Corporate Regulatory Authority jointly issued a Consultation Paper on "Proposed Legislative Amendments Relating to Digital Communications and Regulatory Enhancements" to seek comments on the draft ACRA (Registry and Regulatory Enhancements) Bill ("Bill"). The Bill aims to enhance data privacy and digitalisation, and streamline the corporate regulatory regime. The consultation ends on 18 March 2024. This Update provides a summary of the key amendments introduced by the Bill.

2024: 
J | F | M | 

2023: 
J | F | M | A | M | J | J | A | S | O | N | D | 

2022: 
J | F | M | A | M | J | J | A | S | O | N | D | 

2021: 
J | F | M | A | M | J | J | A | S | O | N | D | 

2020: 
J | F | M | A | M | J | J | A | S | O | N | D | 

2019: 
J | F | M | A | M | J | J | A | S | O | N | D | 

2018: 
J | F | M | A | M | J | J | A | S | O | N | D | 

2017: 
J | F | M | A | M | J | J | A | S | O | N | D | 

2016: 
J | F | M | A | M | J | J | A | S | O | N | D |