Enforce disclosure rules to keep bond market fair

Only five small-and mid-cap companies based in Singapore have tapped the local bond market since June.
Only five small-and mid-cap companies based in Singapore have tapped the local bond market since June.PHOTO: ST FILE

Rules for directors' change in interests in firm's debentures not as robust as you'd think

As much as bankers chirp about the stunning revival of new deals in the Singapore-dollar bond market in the second half of the year, the reality for issuers looking to sell riskier corporate debt has remained rather less sparkling.

Only five small-and mid-cap companies based in Singapore have tapped the local bond market since June, with some of them appearing to lean quite heavily on backing from parties related to the issuer to underwrite the retap.

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A version of this article appeared in the print edition of The Sunday Times on November 04, 2018, with the headline 'Enforce disclosure rules to keep bond market fair'. Print Edition | Subscribe