The proposed changes in the rules will enable issuers to restructure more efficiently, and lessen the regulatory burden when trying to manage financial affairs as well as meet time-sensitive milestones, according to SGX RegCo.
The regulatory unit of the Singapore Exchange (SGX:S68
) (SGX), SGX RegCo, is proposing to smoothen and quicken the process of restructuring that companies dealing with bankruptcy, insolvency and excessive debt go through.
Currently, these rules sit under Singapore’s Insolvency, Restructuring and Dissolution Act (IRDA), which was launched in 2018. They were not taken into consideration by the SGX when it announced its listing rules, according to SGX RegCo’s CEO Tan Boon Gin.
