Mak Yuen Teen | Page 84 | Governance For Stakeholders

Why Do Foreign Companies List on SGX?

Posted by Mak Yuen Teen | Sep 20, 2017 | Articles

Recently, some Singapore companies have chosen to list overseas, especially in Hong Kong, rather than here. I asked one of these companies why it is choosing to list in Hong Kong. It is not because it is faster, or the admission requirements are lower or continuing listing obligations are less strict. In fact, it mentioned the “killer” due diligence process for a listing in Hong Kong. Essentially, it boils down to better valuations and the company’s target markets for its business.

What Singapore Investors Should Know About Foreign Listings – Part 1

Posted by Mak Yuen Teen | Sep 19, 2017 | Articles

Of the 753 issuers listed on the Singapore Exchange (SGX) as at August 2017, 274 or 36% are foreign listings. Of these foreign listings, 110 or 40% are from China. Among the major stock exchanges around the world, SGX has the highest percentage of foreign listings – which is hardly surprising given Singapore’s relatively small domestic economy compared to many other countries. In fact, the percentage of foreign listings, including listings from China, has been even higher in the past.

INVESTORS, BEWARE OF COCKROACHES

Posted by Mak Yuen Teen | Sep 17, 2017 | Articles

According to Warren Buffett: “In the world of business, bad news often surfaces serially: you see a cockroach in the kitchen; as the days go by, you meet his relatives.”

Regulatory and market enforcement are complements, not substitutes

Posted by Mak Yuen Teen | Sep 9, 2017 | Letters

There is much in Thio Shen Yi’s article Time to open the gates for shareholder activism?, (BT, Sept 1) that I agree with. Indeed, there is a need for Singapore to provide shareholders with better access to justice. Despite the Companies Act now allowing shareholders of public-listed companies to initiate statutory derivative action against directors, there remain significant barriers to shareholder enforcement here, as Mr Thio has pointed out.