BT Mark to Market: Independent Financial Advisors —The Gatekeepers of Singapore's Corporate Takeover
Join Ben Paul, a senior correspondent at The Business Times, as he delves into the contentious world of exit offers and delistings under Singapore Exchange (SGX) Listing Rules. This episode promises to offer insightful commentary on why IFAs hold a critical position in determining the fairness and reasonableness of these offers. Find out how these gatekeepers protect minority shareholders and the ramifications of their opinions.
Great Eastern's Extraordinary General Meeting
Slated for July 8, this crucial event will decide whether the insurer goes private with OCBC's exit offer or resumes trading. Learn about the two key conditions that an exit offer must meet to be deemed acceptable, and how IFAs influence these deals.
Delve into past instances where IFA recommendations, such as those for Great Eastern and Boustead Projects, led to improved terms for minority investors and the ensuing market reactions.
Major Shareholders vs Minorities
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
Understand the inherent tension in take-private offers and why IFAs often find themselves in the crossfire. Get acquainted with the guidelines that stress the need for IFAs to maintain objectivity and transparency in their evaluations.
This episode of 'Mark To Market' is a must-listen for anyone interested in corporate governance, market regulations, and investor protection in Singapore. Whether you're a market watcher, a minority shareholder, or simply intrigued by the dynamics of corporate takeovers, Paul's expert analysis will leave you with a clearer understanding of these complex processes.
Listen now to the full episode and stay ahead of market trends and corporate developments with Ben Paul.
'Mark to Market' is a podcast of BT Correspondents. Look out for the next episode featuring wealth editor, Genevieve Cua. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.
Written and hosted by: Ben Paul (benpaul@sph.com.sg)
Edited by: Howie Lim & Claressa Monteiro
Produced by: Ben Paul, Howie Lim & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
---
Follow BT Correspondents:
Channel: bt.sg/btcobt
Amazon: bt.sg/btcoam
Apple Podcasts: bt.sg/btcoap
Spotify: bt.sg/btcosp
YouTube Music: bt.sg/btcoyt
Website: bt.sg/btcorresp
Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice.
---
Discover more BT podcast series:
BT Money Hacks: bt.sg/btmoneyhacks
BT Podcasts: bt.sg/pcOM
BT Market Focus: bt.sg/btmktfocus
BT Branded Podcasts: bt.sg/brpod
BT Lens On: bt.sg/btlenson
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
18 hours ago
- Business Times
Market Focus Daily: Tuesday, July 1, 2025
Asian stocks rise on trade deal hopes; Trump threatens Japan with more tariffs over rice imports; US dollar tumbles to 50-year low in H1, paving way for Asian FX gains. Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day's market movements and news from Singapore and the region. Written and hosted by: Emily Liu (emilyliu@ Produced and edited by: Chai Pei Chieh & Claressa Monteiro Produced by: BT Podcasts, The Business Times, SPH Media --- BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Follow BT Market Focus and rate us on: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Feedback to: btpodcasts@ Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. Discover more BT podcast series: BT Money Hacks at: BT Correspondents: BT Podcasts: BT Branded Podcasts: BT Lens On:
Business Times
20 hours ago
- Business Times
Prudential commences third tranche of US$2 billion share buyback scheme
[SINGAPORE] Asia-focused insurer Prudential on Tuesday (Jul 1) announced the commencement of the third and final tranche of its US$2 billion share buyback programme launched in June 2024. This latest US$500 million tranche follows the completions of a first US$700 million tranche in November 2024 and a second US$800 million tranche in June 2025. It is part of a share buyback programme to reduce Prudential's issued share capital and return capital to its shareholders, which its directors consider to be 'in the best interests of the company and of its shareholders', the insurer said. A maximum of 150 million shares may be repurchased under the tranche, over a period starting from Jul 1 and ending no later than Dec 24, 2025. The insurer said that Merrill Lynch International has been appointed to conduct the share buybacks on its behalf. The investment management company will make trading decisions independently of the insurer and will repurchase its ordinary shares on the London Stock Exchange or other trading venues, which Prudential will subsequently purchase. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The insurer has dual primary listings on the Hong Kong stock exchange, where it is a constituent of the Hang Seng Composite Index, and the London Stock Exchange as well as a secondary listing on the Singapore Exchange (SGX). It is also listed on the New York Stock Exchange in the form of American depositary receipts. Prudential said that any purchases it makes will be treated as having been made on the London Stock Exchange. It added that no purchases of ordinary shares will be conducted on the Hong Kong stock exchange, nor will any purchases be made in respect of its American depositary receipts. The insurer noted that it intends to cancel repurchased shares, but added that there is 'no guarantee' that the third tranche will be implemented in full or that it will purchase any ordinary shares. It stated that it would provide an update on its capital management plan in August, when it publishes its half-year results for the six months ended Jun 30, 2025. On the SGX, shares of Prudential were trading at US$9.61 as at 4.01pm on Tuesday, unchanged from its closing price on Monday.
Business Times
a day ago
- Business Times
PwC Singapore appoints 11 new partners across different practices
[SINGAPORE] PwC Singapore has named 11 new partners as it responds to increasing demand for industry-focused advice and cross-border capabilities. The appointments spanned a wide range of sectors, including financial services, technology, healthcare, logistics and real estate. PwC Singapore's executive chairman Marcus Lam said: 'Each of our new partners embodies the best of our firm to lead our teams forward in helping businesses transform and build trust, especially at a time when companies and investors recognise that they cannot conduct business as usual.' He also noted that they have 'deep technical capabilities, forward-looking strategies and the ability to harness technology', which allow them to help their clients 'generate and accelerate the momentum needed to thrive in a fast-changing world with clarity and confidence'. Assurance Loh Hui Ling has been appointed in general assurance, with experience in the healthcare sector, as well as clients in construction, shipping, retail and technology. She has worked with both listed companies and multinational firms with operations across the Asia-Pacific, Europe and North America. Jeffrey Chew, in financial services assurance, leads PwC's Venture Capital Assurance Practice. He specialises in the asset and wealth management sector, advising early-stage and growth companies, particularly in the technology space. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Melissa Tan, in general assurance, works primarily with transport and logistics firms, alongside experience in technology and retail. She has led audits for both listed and privately held companies, and is familiar with PCAOB and SOX frameworks for US-listed entities. Roy Ng, also in general assurance, works with clients in the technology, media and telecommunications sectors. His experience includes IPOs and integrated audits for US and Singapore-listed companies, as well as private equity-backed firms and startups. Shaun Ng also joins general assurance, with experience across real estate, hospitality, engineering, and industrial products. He focuses on financial reporting, internal controls and cross-border audits, working with SGX-listed groups and multinational clients. Tax Jeremy Gray Stobie, appointed in financial services tax, focuses on US international tax issues. He advises multinational corporations, family offices and asset managers on cross-border compliance, as well as regulatory matters, with sector experience in energy, hospitality and technology. Kok Kian Giap, also in financial services tax, brings expertise in asset and wealth management, real estate and hospitality. His client base includes real estate investment trusts, fund managers and developers. He also advises on fund formation, investment acquisitions and divestments, as well as tax compliance. Lin Weijie is appointed in tax, specialising in GST. He advises clients across industries on compliance and advisory issues, helping them navigate the evolving tax landscape. Deals Teo Chee Kiong joined the deals practice, where he focuses on financial due diligence for private equity and corporate clients. His experience includes mergers and acquisition transactions across South-east Asia, with a portfolio covering privatisations, leveraged buyouts and minority investments. Lee Wan Ming, also in the deals practice, specialises in transactions in the financial services sector. She advises on due diligence, synergy assessments, business plan reviews and post-deal integration – particularly for private equity firms. Consulting Puneet Kathuria joined the consulting practice, where he advises clients on enterprise transformation projects, with a focus on Oracle-enabled solutions. He also supports cross-sector clients in redesigning operating models and driving business performance through digital tools.
