Singapore needs sponsor due diligence best practice

Abstract

ingapore bankers' counsel are calling for a regional best practice outline on sponsor due diligence processes. The move aims to address lack of consistency in the due diligence approach of Singapore's issue managers. Singapore's global banks are in internal discussions to ensure they are all on same page in terms of issue managers' due diligence obligations. The Singapore stock exchange's increasingly vigorous efforts to compete with the Hong Kong stock exchange for business have led to suggestions of some companies being admitted to listing with poor corporate governance histories, particularly in relation to Chinese company listings.