Managing Partner Bazul Ashhab opinionated that quarterly reporting should not be completely abolished as it is a part of Singapore’s backbone in establishing a disclosure-based regime, in The Business Times
Oon & Bazul’s Managing Partner and Head of Dispute Resolution, Bazul Ashhab, shares his thoughts on The Business Times article, “To quarter or to halve?”.
The article was published in The Business Times on 22 January 2018.
To quarter or to halve?
Monday, January 22, 2018
THIS WEEK’s TOPIC: Should Singapore retain quarterly reporting (QR)? Is market capitalisation a good basis on which to frame the QR rules? How should the Singapore Exchange (SGX) balance concerns about compliance costs and disclosure standards?
Bazul Ashhab Managing Partner Oon & Bazul LLP
While there are arguments in favour of quarterly reporting, it is not entirely clear if the benefits are a perceived one. In the short to medium term, QR should not be completely done away. This is very much part of Singapore’s backbone of establishing a disclosure-based regime.
A tempered approach is a good middle ground. For example, reducing the content required in a quarterly report to key essentials. This could balance the administrative burden on costs and resources and yet not compromising significantly on disclosure standards.
Market capitalisation should not remain as the sole determinant for QR. Some smaller companies may actually be most in need of quarterly reports. We can adopt a more holistic approach, like Australia, where factors such as company’s industry and track record are considered as well.
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