|The Board's responsibility to provide a balanced and understandable assessment of the company's performance, position and prospects extends to interim and other price sensitive public reports, and reports to regulators (if required).|
This Guideline sets out the Board’s responsibility for reporting on the company’s performance, position and prospects.
The key information needed by the public, especially existing and potential investors, are information on the company’s performance, position and prospects. Such information is usually price-sensitive.
This Guideline requires that the Board’s assessment of the company’s performance, position and prospects should be a balanced one (i.e. not biased towards overly encouraging or discouraging investment in the company), and communicated in an understandable manner to the public, and when required to by the regulators. The Guideline particularly points out the importance of price-sensitive information as Boards have a duty to be even and transparent with its shareholders and stakeholders, and not seek to unfairly sway their views towards buying (or selling) the company’s shares.
B. SGX Disclosure Guide
C. Related Rules and Regulations
- Section 157(1) of the Companies Act: As to the duty and liability of officers.
- SGX MR 705 and CR 705: Financial Statements [Equity Securities – Periodic Reports]
- SGX MR 708 and CR 708: Annual Report.
- SGX MR 1207 and CR 1204: Annual Reports.
- SGX MR Appendix 7.2 and CR Appendix 7C: Financial Statements and Dividend Announcements.
D. CG Guides
- Board Guide 1.2: Company Performance [Corporate Governance].
- Board Guide 4.6: Finance [Board Duties].
E. Related Articles
- “Back to basics: financial literacy for board members” by Barbara Voskamp. (446KB)
- “Elevating financial reporting” by Yeoh Oon Jin. (452KB)
- “Achieving Quality Financial Statements” by Yeoh Oon Jin. (44KB)
- “Integrated reporting: be prepared” by Chaly Mah. (397KB)
- “Integrated reporting 101” by Lim Ai Leen and Miao Bin. (256KB)