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Business trusts need to adopt new financial framework: MAS

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MAS said that its move "will align the treatment for registered business trusts with that of Singapore-listed companies". The treatment for authorised CIS is "consistent with practices in other major fund jurisdictions" such as the UK and the US. MAS added that its decision followed feedback from the industry.

Singapore

THE financial statements of authorised collective investment schemes (CIS) - which include real estate investment trusts (Reits) - will not have to follow the new and upcoming Singapore financial reporting framework, but registered business trusts listed in Singapore will have

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