Sias, SGX’s testing of IFA verdict in privatisation of Global Palm Resources a positive development
Besides having to ensure their work stands up to scrutiny, IFAs may also have to come up with more convincing ways of assessing similar deals
Add BT as a preferred source
THE Securities Investors Association (Singapore) or Sias sparked questions this past week about whether the independent financial adviser (IFA) appointed to assess the privatisation offer for Global Palm Resources was right to have declared the deal to be “fair and reasonable”.
The scrutiny ought to be welcomed by all participants in the Singapore market. The opinion of an appointed IFA should neither be just another checkbox to tick in a privatisation offer, nor an unassailable justification for these deals.
It is also crucial that IFAs are not seen to be controlled or influenced by the boards of companies that appoint them.
TRENDING NOW
Analysts raise DBS targets to as high as S$81 after record Q2 net profit
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Malaysia’s Tabung Haji reckoning: The billions lost, the rescue and what comes next
