Time to open the gates for shareholder activism?
It may be timely to take a fresh look at Singapore's enforcement architecture that addresses corporate misfeasance.
NOBLE Group continues to draw fire from Iceberg Research more than two years after the short-selling firm first accused the listed commodities trader of questionable accounting practices. In August this year, Iceberg renewed its criticism of the group, but expanded its crosshairs to include Singapore's regulators.
It accused the Singapore Exchange and the Monetary Authority of Singapore of regulatory failure, notwithstanding the lack of any hard evidence to support the allegations.
It is a common refrain: when things take a turn for the worse, lay blame at the authorities' door. Singaporeans love to pan the "Gahmen"; no wonder we joke that grumbling is the national pastime, and complaining, Singapore's championship sport.
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