SGX RegCo directs Shanghai Turbo to convene FY2024, FY2025 AGMs by Aug 31

Failure to comply will be deemed a contravention of mainboard rules

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Jude Chan

Published Tue, Mar 24, 2026 · 07:18 PM

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The Singapore Exchange requires an issuer listed on the mainboard to hold its AGM within four months of the end of its financial year. PHOTO: REUTERS

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[SINGAPORE] The market regulator has issued a notice of compliance to mainboard-listed Shanghai Turbo Enterprises , directing the precision engineering group to convene its annual general meetings (AGMs) for the 2024 and 2025 financial years by Aug 31, 2026.

The company last held an AGM on Aug 29, 2025. This was for the financial year ended Dec 31, 2023.

The Singapore Exchange (SGX) requires an issuer listed on the mainboard to hold its AGM within four months of the end of its financial year.

In a notice on Tuesday (Mar 24), SGX Regulation (SGX RegCo) said it had earlier rejected the company’s application for an extension of time to hold its FY2024 AGM, as there were no extenuating reasons to grant it.

SGX RegCo said Shanghai Turbo is in breach of mainboard listing rules as it had failed to convene its FY2024 AGM by Apr 30, 2025.

The company’s indicative timeline to convene its FY2025 AGM by Aug 31, 2026, will also be in breach of the relevant prescribed deadline of Apr 30.

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SGX RegCo added that Shanghai Turbo’s directors and executive officers may also be considered to have failed to extend the necessary cooperation to SGX, should the company fail to comply with the notice.

The market regulator could also take disciplinary action against the company, including placing its directors and executive officers on the Directors’ and Executive Officers’ Watchlist until the notice has been fully complied with.

Directors who vacate their positions without seeing through the company’s compliance with the notice will be regarded as “jump ship” directors, and will remain on the watchlist even if the instruction has been subsequently fulfilled.

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