New rules for firms planning Singapore IPOs

cctv.com 03-24-2005 10:32

China will draft guidelines for companies intending to go public in Singapore. This, after last year's China Aviation Oil scandal, which nearly bankrupted the mainland's Singapore-listed jet fuel supplier.

China's ambassador to Singapore, Zhang Yun, said there was some misconduct by CAO, and said new guidelines will be published so companies would know what procedures they have to follow. The Chinese side is working on the issue with IE Singapore, one of the leading government agencies in charge of helping foreign companies set up base there.

Editor:Chen Zhuo  Source:CCTV.com