SGX RegCo proposes rule changes to aid company restructuring

FINANCIALLY distressed companies undergoing restructuring may dispose of significant assets without the approval of shareholders and have their trading suspension waived under “exceptional circumstances”.

That’s if proposed changes by the Singapore bourse’s regulatory arm are implemented.

The proposals by Singapore Exchange Regulation (SGX RegCo) are part of efforts to “smoothen and speed up” the restructuring of financially distressed companies, said Tan Boon Gin, the regulator’s chief executive officer.