By Grace Leong,Business Correspondent
The Securities Investors Association (Singapore) or Sias is seeking funding sources, potentially from government agencies, for its sustainability and to address concerns that the investor watchdog is not independent, Sias president David Gerald told The Straits Times yesterday.
Former president Tony Tan Keng Yam said at Sias' 20th anniversary celebrations yesterday "finance has been a constant struggle" for the watchdog in the past 20 years, and it is crucial a sustainable funding model is found.
"Doing so would address sceptics who claim that the present arrangement does not allow Sias to be properly objective," he said.
He said Sias' conciliatory approach had benefited shareholders of several firms including Isetan, Golden Agri-Resources, Yellow Pages and China Aviation Oil. More recently, it extended assistance to bondholders of troubled oil and gas companies like Marco Polo Marine, Ezra Holdings, Nam Cheong and Ezion as well as water treatment firm Hyflux.
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