DBS complied with rules as issue manager of Hyflux perps in 2016: MAS

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SINGAPORE (April 8): The Monetary Authority of Singapore says that its supervisory reviews to date have not uncovered any impropriety on the part of DBS when performing its roles as both issue manager and distributor of Hyflux perpetual securities in 2016.

The MAS spokesperson adds that DBS, in its capacity as the issue manager, has conducted its due diligence checks to ensure that material information relating to Hyflux was highlighted in the offering document.

“We note that Hyflux had disclosed in its offering document in 2016 that the Tuaspring power plant was expected to incur losses if electricity prices in Singapore were to remain low. The offering document was also cautious on the outlook for the water and energy markets,” says the MAS spokesperson... (Click here to read the full story)