The Singapore Exchange (SGX) has issued a public reprimand to Swiber Holdings Limited (Swiber), an oilfield services firm, on 31 October 2016 (Regulatory Announcement) for failing to provide a balanced and fair project announcement to the market. SGX considered that Swiber had presented more favourable possibilities as certain, or as more probable than was actually the case. In addition, SGX noted that the relevant market announcement by Swiber had failed to disclose certain material conditions which were pre-requisites to the completion of the project.
To read more about the case from Siddhartha Sivaramakrishnan, William Hallatt, Grace Chong, please click here.
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