By Mak Yuen Teen On October 3, CWX Global Limited, a company listed on the Catalist board of SGX announced that it had re-designated its director, Mr Lee Chye Cheng Adrian, from non-executive director to independent director. The company’s announcement can be accessed from here: https://links.sgx.com/1.0.0/corporate-announcements/1FBY26TADT0XULNJ/fd5837af4e6aa5dc16c00d1fd2393d2687173c50659c0bebb4eb9c7f7c91e4d1 The announcement said that the contents of the announcement have been reviewed by the company’s sponsor ZICO Capital Pte. Ltd. It also said that the board of directors has considered the assessment and accepted the recommendation of the Nominating Committee for the re-designation, after reviewing Mr Lee’s confirmation of independence in accordance wi

(Updated on October 5 to include the resignation of the financial controller at Reclaims Global) By Mak Yuen Teen Rule 703 of the SGX Rulebook for both the Mainboard and Catalist contains general principles relating to the disclosure of material information. Rule 704 requires certain specific information to be immediately announced. These rules exist for very important reasons – to avoid the establishment of a false market and to ensure that existing and potential investors have timely access to information that is likely to materially affect the price or value of a company’s securities. If material information is withheld and individuals with access to that information trades on that information – or an issuer undertakes certain corporate actions where that inf

By Mak Yuen Teen Rule 703 of the SGX Rulebook for both the Mainboard and Catalist contains general principles relating to the disclosure of material information. Rule 704 requires certain specific information to be immediately announced. These rules exist for very important reasons – to avoid the establishment of a false market and to ensure that existing and potential investors have timely access to information that is likely to materially affect the price or value of a company’s securities. If material information is withheld and individuals with access to that information trades on that information – or an issuer undertakes certain corporate actions where that information is relevant, such as share buybacks and rights issues – those individuals and issuers