Case 1. Biotech company Biolidics received a query query SGX RESPONSE TO SGX QUERIES –ANNOUNCEMENTSIN RELATION TO BIOLIDICS’RAPID TEST KITS FOR THE DETECTION OF NOVEL CORONAVIRUS 2019 Read more from Singapore Exchange (SGX) about certain noises it was making. Between 30 March and 6 April 2020, Biolidics publicised its solution to Covid—its rapid test kit, and how it was approved for use in Singapore Singapore SGXNet BIOLIDICS TO LAUNCH ITS RAPID TEST KIT FOR COVID-19; OBTAINS APPROVAL FROM SINGAPORE’S HEALTH SCIENCES AUTHORITY FOR ITS RAPID TEST KIT TO BE USED IN SINGAPORE Read more , the Philippines Philippines SGXNet BIOLIDICS’ RAPID TEST KITFORCOVID-19APPROVED FOR USEBY THE FOOD AND DRUG ADMINISTRATION OF THE PHILIPPINES Read more and the European Union European Union SGXNet BIOLIDICS’ RAPID TEST KITFORCOVID-19OBTAINS CE MARKINGFOR USE INTHE EUROPEAN UNION Read more .
Now or never
SGX’s corporate governance challenge is RegCo’s opportunity
Singapore's exchange SGX instituted the independent regulator RegCo to minimise conflict of interest. But while RegCo has been issuing queries and compliance notices, small and micro-cap companies often fly under the radar
Singapore’s public market is unlike others: the Singapore Exchange (SGX) is self-regulated, with oversight from the Monetary Authority of Singapore
SGX spun out a Regulation Company, or RegCo, in 2017 as an independent entity to regulate the exchange and pull up companies that don’t comply
The Singapore Governance and Transparency Index has improved to 59.3 in 2019. But stakeholders are still reeling from companies being secretive
Now is the time for SGX to get its house in order, especially with an uncertain market post pandemic