Singapore's ISCA and SGX RegCo launch workshops
The Institute of Singapore Chartered Accountants (ISCA) and the Singapore Exchange Regulation (SGX RegCo) have announced a collaborative initiative to launch training workshops aimed at enhancing sustainability reporting among Singapore-listed companies.
These workshops will provide an understanding of the International Sustainability Disclosure Standards (ISSB) and support companies in meeting mandatory climate-related disclosure requirements.
This comes following the Singapore government's early 2024 announcement of mandatory climate-related disclosures.
The workshops will assist companies in transitioning from other internationally recognised standards to the ISSB standards.
The training will focus on the differences between the Global Reporting Initiative (GRI) and ISSB standards, with practical exercises to equip companies with the necessary skills.
ISCA president Teo Ser Luck said: 'Our partnership with SGX RegCo highlights the importance of continuous learning in maintaining strong accountability and transparency in Singapore's capital markets.
'This training programme reflects our commitment to equipping businesses with the knowledge they need to adapt to changing regulatory demands.'
Eight sessions are scheduled from April to September 2025, with the first session taking place on 17 April 2025.
Topics covered will include Singapore's climate reporting and assurance roadmap, the differences between GRI and ISSB standards, and how to perform climate-related disclosures as per IFRS S2 requirements through practical exercises and case studies.
This initiative builds on previous efforts by ISCA, including the October 2024 launch of a sustainability report based on GRI and IFRS Sustainability Disclosure Standards.
SGX RegCo CEO Tan Boon Gin said: 'SGX RegCo is committed to supporting listed companies in adopting the IFRS Sustainability Disclosure Standards. Customers are becoming more discerning about the sustainability credentials of the products and services they consume.
'This in turn will increasingly drive companies to align themselves with the latest standards. Training such as these workshops with ISCA will help companies to meet customer expectations by building up their reporting capabilities.'
SGX RegCo is set to partially sponsor the workshop fees for up to 400 attendees.
Additionally, ISCA has allocated up to S$6m ($4.5m) for the Polytechnic Pathway Programme, which supports local polytechnic graduates in obtaining the Singapore Chartered Accountant Qualification.
"Singapore's ISCA and SGX RegCo launch workshops" was originally created and published by The Accountant, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
27 minutes ago
- Business Insider
Qantas is pulling the plug on Jetstar Asia — and 500 jobs
Qantas is shutting down Jetstar Asia, its Singapore-based budget carrier, blaming rising operating costs and a crowded market. The budget airline will cease operations on July 31 after more than two decades. Jetstar Asia will continue flights until then on a "progressively reduced schedule," Qantas said in a statement on Wednesday. "Despite delivering exceptional customer service and operational reliability, Jetstar Asia has been impacted by rising supplier costs, high airport fees, and intensified competition in the region," the Australian company said. Jetstar Asia flies 16 routes from Singapore to destinations in Malaysia, Thailand, Indonesia, Japan, the Philippines, China, Sri Lanka, and Australia. Jetstar operations in Australia, New Zealand and Japan will not be affected. Customers booked on canceled flights will be offered full refunds, and Qantas will try to move them to other airlines where possible. The shutdown will also result in the loss of more than 500 jobs, a Jetstar Asia spokesperson told Business Insider. Affected employees will be given redundancy benefits and assistance with other roles within Qantas and other airlines. Qantas added that 13 Jetstar Asia Airbus A320 aircraft will be progressively redirected to Australia and New Zealand. Qantas did not immediately respond to a request for comment. Competition among budget carriers in Southeast Asia was "brutal," Alan Tan, a professor specializing in aviation law at the National University of Singapore's Law School, told Business Insider. "The departure is a great loss from the viewpoint of price and service competition for travellers," he said. Virgin Australia IPO The closure comes on the same day that Virgin Australia announced its intention to list on the stock market in Sydney on June 24. The shares will be priced at A$2.90, raising A$685 million and valuing the company at A$2.3 billion. The IPO will allow some existing investors, including Bain Capital, Qatar Airways Group, and the Virgin Group, to realize part of their holdings. Investors participating in the offer are expected to hold about 30% of shares on issue, with the remainder being held by existing investors. Virgin carries about 20 million passengers a year on more than 100 aircraft. It operates 76 routes to 38 destinations across its domestic and short-haul international airline business. From next week it will start long-haul international services between Australia and Doha in partnership with Qatar Airways, which has a 25% stake in Virgin. Budget model is 'dead' United Airlines CEO Scott Kirby earlier this month criticized the budget airline model and called it "crappy." He told the "Future of Everything" event that the low-cost carrier model was "dead." "The model was screw the customer," he said. "It was like trick people, get them to buy, and get them to come, and then charge them a whole bunch of fees that they aren't expecting … disclosures buried in legalese," he continued. "Their problem is they got big enough that they needed repeat customers. They don't get them." His comments came the same day that United announced a new partnership with JetBlue, which some consider to be a budget carrier.
Forbes
27 minutes ago
- Forbes
Singapore, Malaysian King's Son To Swap Prime Land Near Botanic Gardens
The Singapore government is exchanging a plot of land in one of the city-state's priciest residential enclaves with a larger site held by the eldest son of Malaysian King Ibrahim Iskandar. Under the deal, Ismael Ibrahim, the Regent of the southern Malaysian state of Johor, will swap 13 hectares of his land that's near the Botanic Gardens for a nearby plot of 8.5 hectares of Singapore state land that's of 'comparable value,' the Urban Redevelopment Authority said in a statement on Tuesday. 'The Regent of Johor plans to develop his land,' the URA said in the statement. 'The Singapore government and the ROJ have agreed to undertake a land swap, so that the ROJ's planned developments will be further away from the Singapore Botanic Gardens.' The 82-hectare Botanic Gardens—which is now a UNESCO World Heritage site—is a popular tourist attraction near the Orchard Road shopping precinct. It is surrounded by multi-million dollar luxury landed homes known as good class bungalows and several embassies. The Malaysian King's property in the Tyersall Avenue area has been held by the family for more than a century. Once the deal with the Singapore government is completed, the family will own about 16.6 hectares, which analysts estimate could be worth at least S$3.6 billion ($2.8 billion).
Business Wire
an hour ago
- Business Wire
3D Investment Partners: Leading Proxy Advisory Firm Glass Lewis Recommends Toho Holdings Shareholders Vote 'AGAINST' the Reappointment of CEO Hiromi Edahiro at the Company's June 2025 AGM
TOKYO--(BUSINESS WIRE)--3D Investment Partners Pte. Ltd., the investment manager of 3D Opportunity Master Fund ('3D' or 'we'), today announced that Glass, Lewis & Co. ('Glass Lewis'), a leading independent provider of proxy research and voting recommendations for the institutional investor community, has recommended that shareholders of Toho Holdings Co., Ltd. ('Toho HD' or the 'Company') (TOKYO: 8129) vote 'AGAINST' the reappointment of Representative Director, President, CEO and CFO Hiromi Edahiro ('Mr. Edahiro') at the Company's 77th Annual General Meeting of Shareholders (the 'AGM'), scheduled to be held on June 27, 2025. In its report, Glass Lewis recognized that 3D 'raises relevant and substantiated concerns regarding Toho Holdings' governance practices' and concluded that shareholders should vote against the reappointment of Mr. Edahiro. In reaching its conclusion, Glass Lewis highlighted Toho HD's fraudulent scheme related to Nihon University Hospital (the 'Nihon University Incident') and found that the incident – which was 'characterized by limited disclosure and unclear accountability' – warranted 'further scrutiny.' Furthermore, Glass Lewis criticized Toho HD's response to the Nihon University Incident particularly; they analyze that this incident suggested 'gaps in the Company's risk awareness and disclosure governance framework.' Glass Lewis noted that: '[T]he Company's involvement in transactions perceived as questionable might have merited a more proactive and transparent response. From the standpoint of risk oversight and shareholder communication, an internal investigation followed by a timely explanation would likely have been more appropriate.' '[T]he Company's first formal disclosure [of the Nihon University Incident] was issued only in response to 3D's public statements ahead of this shareholder meeting. In our view, this reactive approach appears misaligned with generally accepted expectations for corporate transparency. The rationale cited—that disclosure was delayed to protect the Company's reputation—may in fact have had the opposite effect, potentially exacerbating reputational risks.' 3D completely agrees with Glass Lewis that shareholders should expect 'stronger accountability and leadership at the highest levels.' 3D strongly believes that addressing Toho HD's serious governance and compliance failures is essential to enhance the Company's corporate value sustainably, and that substantive change must start at the top of the organization. 3D therefore encourages Toho HD shareholders to vote AGAINST Mr. Edahiro at the Company's upcoming AGM. Note: The passages in quotation marks ("") are direct quotes excerpted by 3D from Glass Lewis' report. The portions in brackets ([ ]) have been added by 3D for additional clarity/context. Permission to use these quotes from Glass Lewis was neither explicitly sought nor obtained. About 3D Investment Partners Pte. Ltd. 3D Investment Partners Pte. Ltd. is an independent Singapore-based Japan focused value investing fund manager founded in 2015. 3D Investment Partners Pte. Ltd. focuses on partnering with management[s] who share its investment philosophy of medium- to long-term value creation through compound capital growth and a common objective of achieving long-term returns. Disclaimer This press release, including annexes is provided for informational purposes only and does not constitute an offer to purchase or sell any security or investment product, nor does it constitute professional or investment advice. This press release should not be relied on by any person for any purpose and is not, and should not be construed as investment, financial, legal, tax or other advice. 3D Investment Partners Pte. Ltd. and its affiliates and related persons ('3DIP') of either believe that the current market price of Toho HD does not reflect its intrinsic value. 3DIP acquired beneficial and/or economic interests based on its own idea that Toho HD securities have been undervalued and provide an attractive investment opportunity and may in the future beneficially own, and/or have an economic interest in, Toho HD securities. 3DIP intends to review its investments in Toho HD on a continuing basis and, depending upon various factors including, without limitation, Toho HD's financial position and strategic direction, the outcome of any discussions with Toho HD, overall market conditions, other investment opportunities available to 3DIP, and the availability of Toho HD securities at prices that would make the purchase or sale of Toho HD securities desirable, 3DIP may, from time to time (in the open market or in private transactions), buy, sell, cover, hedge, or otherwise change the form or substance of any of its investments (including the investment in Toho HD securities) to any degree in any manner permitted by any applicable law, and expressly disclaims any obligation to notify others of any such changes. 3DIP provides no representation or warranty, either expressed or implied, in relation to the accuracy, completeness, or reliability of the information contained herein (including content or quotes from news coverage or other third-party public sources ('Third-Party Materials')), nor is it intended to be a complete statement or summary of the securities, markets, or developments referred to herein. 3DIP expressly disclaims any responsibility or liability for any loss whatsoever arising from any use of, or reliance on, this press release or its contents as a whole or in part by any person, or otherwise whatsoever arising in connection with this press release. 3DIP hereby expressly disclaims any obligation to update or provide additional information regarding the contents of this press release or to correct any inaccuracies in the information contained in this press release. 3DIP disclaims any intention or agreement to be treated as a joint holder (kyodo hoyu sha) under the Financial Instruments and Exchange Act of Japan, a closely related party (missetsu kankei sha) under the Foreign Exchange and Foreign Trade Act with other shareholders, or receiving any power or permission to represent other shareholders in relation to the exercise of their voting rights, and has no intention to solicit, encourage, induce or require any person to cause other shareholders to represent such voting rights. 3DIP does not have the intention to make a proposal, directly or through other shareholders of Toho HD, to transfer or abolish the business or assets of Toho HD and/or Toho HD group companies at the general shareholders meeting of Toho HD. 3DIP does not have the intention or purpose to engage in any conduct which constricts the continuing and stable implementation of business of Toho HD and/or Toho HD group companies. This press release may include Third-Party Materials. Permission to quote from Third-Party Materials in this press release may neither have been sought nor obtained. The content of the Third-Party Materials has not been independently verified by 3DIP and does not necessarily represent the views of 3DIP. The authors and/or publishers of the Third-Party Materials are independent of, and may have different views to 3DIP. Quoting Third-Party Materials in this press release does not imply that 3DIP endorses or concurs with any part of the content of the Third-Party Materials or that any of the authors or publishers of the Third-Party Materials endorses or concurs with any views which have been expressed by 3DIP on the relevant subject matter. The Third-Party Materials may not be representative of all relevant news coverage or views expressed by other third parties on the stated issues. In respect of information that has been prepared by 3DIP (and not otherwise attributed to any other party) and which appears in the English language version of this press release, in the event of any inconsistency between the English language version and the Japanese language version of this press release, the meaning of the Japanese language version shall prevail unless otherwise expressly indicated.
