Suspended firms get three years to fix issues or delist: SGX RegCo

Data showed 39 long-suspended issuers as of end-2025.

Companies suspended from trading must resolve substantive underlying issues within three years or face possible delisting, Singapore Exchange Regulation (SGX RegCo) announced.

SGX RegCo said data showed companies with a high likelihood of positive outcomes were generally able to resolve substantive issues within the proposed period. 

Such resolutions could include operational restructuring or settlements with creditors, it added.

The measure follows October 2025 regulatory changes to reduce the use of trading suspensions and shift towards a more disclosure-based regime. 

The earlier reforms placed greater emphasis on disclosures to investors whilst narrowing the situations in which issuers remain suspended.

As of 31 December 2025, there were 39 long-suspended issuers. Of these, 16 were exploring trading resumption. 

Meanwhile, five were undergoing court-supervised restructuring or schemes of arrangement, 10 were in liquidation or winding up, and eight had been served delisting notices.

In the second half of 2025, one company resumed trading, and two companies were delisted, whilst three companies were added to the long-suspended list.

SGX RegCo CEO Tan Boon Gin said trading suspensions undermine price discovery and liquidity in public markets.

“We have since narrowed the range of situations in which we would keep an issuer suspended. We also expect such an issuer to step up efforts to complete its restructuring and avoid a prolonged suspension,” Tan added.

Companies suspended for more than three years will also be required to demonstrate substantive progress and concrete plans to resume trading. 

SGX RegCo said it will take steps to delist issuers where progress is deemed insufficient.

The regulator said it will continue reviewing trading resumption proposals based on restructuring progress, certainty of plans, and shareholder interests.