SGX names 109 companies that are required to do quarterly reporting

These firms are noted to have material uncertainties from their latest financial statements.

Singapore Exchange (SGX) has instructed 109 companies to do its quarterly reporting (QR) of financial statements amidst auditing issues, the bourse announced on its website.

As of 7 February, 94 of these firms were flagged as issuers with audit concerns. Six are directed to do QR, whilst the remaining nine were named under both.

Also read: SGX scraps compulsory quarterly reporting based on market cap

These firms are found to have material uncertainties based on their latest financial statements by its auditors, whilst some have regulatory concerns from SGX.

Those with material uncertainties will continue to report until their auditors have issued a clean opinion on their financial statements. Meanwhile, those with regulatory concerns will have to perform QR until they are resolved.

The listed issuers were given a one-year grace period to prepare for their quarterly reports, except for those who have been already required to report quarterly before the new approach was implemented.