SGX RegCo: Automatic extension for the release of full year unaudited financial statements for issuers with financial years ending in February, March and April 2020



SGX RegCo: Automatic extension for the release of full year unaudited financial statements for issuers with financial years ending in February, March and April 2020

A photo of Singapore SGX Centre

Date Published: 5 May 2020 

Authors and Contributors: Tan Min-Li, Jennifer Lo and Timothy Tan.


The Singapore Exchange Regulation (“SGX RegCo”) has on 22 April 2020, in consultation with the Monetary Authority of Singapore, announced an automatic extension to issuers with financial years ending on 29 February 2020, 31 March 2020 and 30 April 2020 to release their full year unaudited financial statements (“Waiver”).

The new due dates are as follows:

Due dates to release full year unaudited financial statements

In announcing the Waiver, the SGX RegCo recognised the practical difficulties faced by issuers in preparing their financial statements due to the elevated safe distancing measures put in place during this extended ‘circuit breaker’ period from 7 April 2020 to 1 June 2020. While it is important that issuers announce their unaudited full-year financial statements in a timely manner, the SGX RegCo acknowledged that remote access to accounting and financial records during this time may not be feasible. Thus, this Waiver was granted to balance the operation of a fair, orderly, and transparent market and the challenges faced by issuers.

Issuers who wish to benefit from this Waiver will need to (1) notify SGX Regco by sending an email to and (2) make an announcement via SGXNet. The email and announcement must contain the following:

  1. the issuers’ relevant financial year-end and the indicative timeline to release their full-year unaudited financial statements;
  2. the Board of Directors’ confirmation that the time extension will not be in contravention of any laws and regulations governing the issuer and its constitution (or the equivalent in the issuer’s country of incorporation); and
  3. ensuring adherence to the issuer’s internal policies with regards to dealing by the issuer and its officers in its securities, including not dealing in the issuer’s securities while in possession of any material information.

No response from SGX RegCo is required.

The SGX RegCo also stressed that this Waiver does not relieve issuers of their obligations to disclose material information in a timely manner and it has written a regulator’s column on this issue. More information on this regulator’s column can be found in our previously published CNPupdate here:

For more information on the Waiver, please refer to the SGX RegCo’s press release here:

Disclaimer: This update is provided to you for general information and should not be relied upon as legal advice.


CNPLaw’s Corporate Finance – Capital Markets Lawyers

Tan Min Li legal Partner at CNPLaw LLP image

    Min-Li’s principal areas of expertise are in corporate and financial services. For 2018 and 2019, she was recognised as Singapore’s Top 100 private practice lawyers by Asia Business Law Journal. For 2021, She is rated as “Highly Regarded”, ranked as a “Distinguished Practitioner” and “Recommended” for Capital Markets by IFLR1000, Asialaw Leading Lawyers and The Legal 500 Asia Pacific respectively.

    Jennifer Lo Senior Legal Associate at CNPLaw LLP

      Senior Associate
      Jennifer’s main areas of practice are corporate finance, debt and equity capital markets and general corporate advisory. Jennifer has been involved in initial public offerings and listings on both The Singapore Exchange Security Trading Limited and The Stock Exchange of Hong Kong Limited.

      Timothy Tan Associate at CNPLaw

        Timothy is an Associate in the Corporate Finance practice group. His main areas of practice include corporate finance, equity capital markets, and general corporate advisory. He has been involved in preparing commercial agreements and general corporate contracts.

        Having handled transactions for numerous local and foreign companies across Asia, extending across a wide range of businesses and industries, we have accumulated significant experience advising on an extensive range of corporate finance transactions.

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