Published in Business Times, November 22, 2012 LETTER TO THE EDITOR Complex structures for listed entities not investor-friendly I REFER to the opinion piece “Time to tighten rules for business trusts?” by...
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THE Prime Minister has ordered a full review of a controversial sale of software used by town councils to Action Information Management (Aim), a People’s Action Party-owned firm.
The review, to be conducted by the Ministry of National Development (MND), is “in the interest of transparency and maintaining trust in the system”, he said in a statement on Tuesday.
ON Jan 3, Sarin Technologies made an announcement which was a refreshing change from the doses of negative news during the year just past about the corporate governance of S-chips, business trusts, proposed glamour listings such as F1, and even lauded established companies like Olam.
Read MoreIN SEPTEMBER 2011, the Singapore Exchange (SGX) amended its rulebook to require issuers to disclose the aggregate amount of fees paid to auditors, broken down into audit and non-audit services, rather than the existing requirement to disclose just the non-audit fees paid to these auditors. The rule amendment addressed a lacuna that had existed since July 2002, when the Ninth Schedule of the Companies Act requiring the disclosure of audit fees was repealed in conjunction with accounting standards becoming mandatory under the Companies Act.
Read MoreThe Ministry of National Development has just released its fourth half-yearly Town Council Management Report covering the 15 town councils for the period between April and September 2012. The report is an important tool to hold town councils accountable.
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