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SINGAPORE – Media OutReach Newswire – 11 May 2026 – The Institute of Singapore Chartered Accountants (ISCA) has launched a new Taskforce to strengthen financial reporting and investor confidence in Singapore, amid growing focus on corporate transparency, financial controls and trust in capital markets.

The Strengthening Financial Reporting Taskforce was launched today at the ISCA Value Unlock Forum held in partnership with Singapore Exchange (SGX). Chaired by Ms Euleen Goh, ISCA Distinguished Lifetime Member and Chairman of Singapore Institute of Management Group Ltd, the Taskforce will bring together leaders from business, finance, academia and investor groups to review Singapore’s financial reporting ecosystem and recommend ways to strengthen the quality, integrity and usefulness of corporate reporting.

The Taskforce comes at a timely moment as Singapore continues efforts to strengthen its capital markets and business ecosystem. Recent national initiatives, including the Accountancy Workforce Review Committee and the Monetary Authority of Singapore’s Equities Market Review, have highlighted the importance of strong financial reporting, professional capabilities and investor trust.

The launch also comes amid ongoing discussions on reducing compliance costs for smaller companies, including ACRA’s review of Singapore’s audit exemption framework. Regardless of how the framework evolves, strong financial reporting practices, competent finance professionals and effective financial controls remain fundamental to upholding confidence among investors, lenders and stakeholders.

The Taskforce will study how companies can improve the way they communicate financial performance, business risks and long-term value creation to investors and stakeholders. It will also examine how Singapore can continue to uphold high standards of governance, transparency and accountability in a rapidly evolving business environment.

Ms Euleen Goh, Chairperson of the Strengthening Financial Reporting Taskforce, said: “Financial reporting has always been the language of business. As markets evolve, it must speak more clearly and more usefully to the stakeholders who rely on it. The Taskforce will take a practical and holistic look at how Singapore can raise the bar so that companies communicate value and insights with the confidence and clarity that investors and the market expect.”

The Taskforce comprises leaders from across the financial ecosystem:

• Mr Liew Nam Soon, Deputy Regional Managing Partner, EY Asia East; Managing Partner, EY Asean; Managing Partner, EY Singapore & Brunei
• Mr Leong Yung Chee, Group CFO, United Overseas Bank Limited
• Professor Lawrence Loh, Director, Centre for Governance and Sustainability, NUS Business School, National University of Singapore
• Ms Belinda Tan, CA (Singapore), Managing Director of Finance, Temasek International
• Mr Ang Hao Yao, Vice President, Securities Investors Association (Singapore)
• Ms Karen Loon, Member, Governing Council of the Singapore Institute of Directors
• Mr Tan Boon Gin, CEO, Singapore Exchange Regulation (Observer)
• Mrs Chia-Tern Huey Min, CE, Accounting and Corporate Regulatory Authority (Observer)

Mr Lee Boon Teck, President of ISCA, said: “High-quality financial reporting and strong financial controls are essential to investor confidence and market integrity. As Singapore’s national accountancy body, ISCA believes professionally trained finance and accounting professionals play a critical role in safeguarding trust in business and capital markets. This Taskforce reflects our commitment to supporting Singapore’s continued standing as a trusted global financial and business hub.”

The Taskforce was launched at the ISCA Value Unlock Forum, which brought together C-suite leaders, finance professionals and capital markets stakeholders to discuss how companies can better communicate value to the market.

ISCA Academy, an Approved Training Provider under the SGX Value Unlock Programme, supported the afternoon sessions as part of the ISCA Value Unlock Series. The series aims to equip listed companies and finance leaders with practical capabilities to communicate performance, strategy and value more effectively to the market.

Ms Cyndi Pei, Chairperson of ISCA Academy, said: “As stakeholder expectations continue to evolve, finance leaders are increasingly expected to go beyond reporting results to articulating performance, risks and value creation with clarity, credibility and context. ISCA Academy remains committed to supporting the profession and the broader market by building the practical capabilities needed to reinforce trust, promote transparency and strengthen confidence in Singapore’s capital markets.”

The Taskforce will engage stakeholders over the coming months and provide recommendations on strengthening Singapore’s financial reporting ecosystem.Hashtag: #ISCA #CharteredAccountants #FinancialReporting #DifferenceMakers #Accounting #Accountancy

The issuer is solely responsible for the content of this announcement.

About the Institute of Singapore Chartered Accountants (ISCA) Academy

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. Established in 1963, ISCA administers the Singapore Chartered Accountant Qualification programme and is the designated entity by the Singapore Ministry of Finance to confer the Chartered Accountant of Singapore [CA (Singapore)] designation.

ISCA supports over 43,000 members across industries in Singapore and globally, with members in more than 40 countries. With a growing international presence, ISCA has 12 overseas chapters, 7 offices across 10 countries and a network of over 150 strategic partners, strengthening professional connections and opportunities across borders. ISCA is also a member of Chartered Accountants Worldwide, a global network representing more than 1.8 million Chartered Accountants and students across over 190 countries.

ISCA advances professional development and lifelong learning through ISCA Academy, its training arm and drives community impact through ISCA Cares, its charity arm.

ISCA Academy, the leading business school of ISCA, delivers immersive, industry-informed learning across accountancy, finance, technology, governance and leadership. We equip learners to reskill, reconnect and reinvent, empowering them to stay relevant and ahead by choice.

For more information, visit www.isca.org.sg.

The revised plan would involve the sale of a 2.5 per cent stake through new shares, with the proceeds flowing to Jio Platforms rather than to shareholders seeking exits. The change marks a significant adjustment in what is expected to be one of the largest public offerings in the country’s capital markets, and places long-term growth funding ahead of partial monetisation by early backers.

Jio Platforms, controlled by Mukesh Ambani’s Reliance Industries, owns Reliance Jio Infocomm and houses a broad portfolio of digital services spanning telecom, broadband, cloud, media, payments and consumer technology platforms. Its shareholder base includes Meta, Google, Vista Equity Partners, KKR, Mubadala, Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund, many of which entered the company during the 2020 fundraising cycle.

Earlier discussions had explored an offer-for-sale structure under which foreign investors could have sold about 8 per cent of their individual holdings, amounting to roughly 2.5 per cent of Jio Platforms. That approach has now been set aside, with investors opting to remain exposed to the business rather than reduce stakes at the listing stage.

The decision strengthens Reliance’s control over the IPO narrative. A fresh issue allows the company to present the listing as a growth-financing event instead of an exit window for private investors. It also limits the risk that the market interprets selling by marquee shareholders as a signal of valuation caution, particularly at a time when global technology listings are being judged closely on profitability, cash generation and regulatory exposure.

Jio Platforms is widely seen as the centrepiece of Reliance Industries’ transition from an energy-heavy conglomerate to a broader consumer, digital and technology group. The telecom arm has become one of the world’s largest mobile operators by users, while its digital ecosystem has helped Reliance build links across retail, entertainment, finance and enterprise services.

The company’s operating performance has supported expectations of a high-profile listing. Jio Platforms reported strong profit growth for the quarter ended March 2026, helped by tariff-led gains, subscriber additions, higher data consumption and expansion in home broadband. Average revenue per user rose to ₹214, reflecting improved monetisation after tariff increases and a better customer mix.

The proposed IPO has been closely watched since Ambani told shareholders that Jio Platforms was being readied for a market debut in the first half of 2026. Preparations gathered pace after listing rules were adjusted to make it easier for very large companies to float a smaller portion of equity while still meeting public-shareholding requirements over time.

A 2.5 per cent offering would keep public float modest at the start, but even that limited stake could translate into a multibillion-dollar transaction if the company commands a valuation close to estimates that have placed Jio Platforms around $180 billion. At that level, the IPO could rank among the largest listings ever seen on domestic exchanges.

The timing remains sensitive. Equity markets have been volatile as investors weigh interest-rate expectations, geopolitical risks, technology valuations and capital flows into emerging markets. Several large companies have adjusted listing timetables as issuers and bankers test demand from institutional and retail investors.

Reliance has assembled a large banking syndicate for the transaction, underlining the scale and complexity of the planned sale. The deal will require careful pricing to balance investor appetite, Reliance’s valuation expectations and the interests of existing shareholders who invested at a premium during the digital fundraising boom.

For Meta and Google, continued ownership preserves access to one of the world’s largest digital consumer markets through partnerships linked to messaging, cloud services, devices and online commerce. For sovereign wealth funds and private equity investors, remaining invested offers exposure to a mature telecom platform with rising cash flows and expanding digital adjacencies.

The IPO will also have implications for Reliance Industries’ own market valuation. Investors have long debated whether separate listings of Jio Platforms and Reliance Retail could unlock value trapped inside the conglomerate structure. A successful Jio debut may narrow the holding-company discount, while a weak listing would raise questions over the pace and pricing of Reliance’s broader demerger and monetisation strategy.

Richard Cheng, Associate Commercial Director (Hong Kong & Macau) at BeOne, said: “We are honored to receive this award from the Hong Kong Commercial Times. BeOne has built differentiated capabilities across clinical development and manufacturing, supported by a broad and diverse R&D pipeline. In Hong Kong, we have introduced several therapies, including BTK, PD-1 and IL-6 inhibitors. Looking ahead, we will continue to advance our plans in Hong Kong by leveraging opportunities enabled by the ‘1+’ policy and the planned establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) and its ‘primary evaluation’ mechanism. Supported by our global supply network, we aim to bring additional medicines to patients in Hong Kong and the Greater Bay Area and help improve access to treatments aligned with international standards.”

Global R&D and Innovation

Founded in 2010, BeOne is focused on accelerating key stages of oncology innovation—from discovery through development to patient access. Through an integrated model spanning R&D, manufacturing and commercialization, the company works to translate innovation into clinical value. Today, BeOne operates across six continents in more than 45 markets and is supported by more than 1,200 oncology R&D professionals.

BeOne’s R&D platform has advanced more than 35 clinical-stage drug candidates, including three internally developed products that have received commercial approval, reaching more than 2 million patients worldwide.

Pipeline Highlights

BeOne continues to expand its global footprint through a portfolio of internally developed products, including:

• BTK Inhibitor: As the company’s first self-developed innovative drug, it holds a significant position in the global market (including Hong Kong), particularly in the field of B-cell malignancies.
• PD-1 Inhibitor: Launched in more than 50 markets worldwide, reaching 1.8 million people. In Hong Kong, it has been approved for six indications, including immunotherapy for lung, esophageal and gastric cancers.
• Next-Generation BCL-2 Inhibitor: Approved for certain lymphoma indications in Mainland China. It has been granted Priority Review by the U.S. Food and Drug Administration, and a marketing application has been submitted in the European Union.

Manufacturing Network Supporting Global Supply

BeOne maintains an integrated chain from R&D to manufacturing and commercialization, supported by production sites in the United States and China designed to help maintain a stable global supply:

• New Jersey, U.S.: A North America biologics hub integrating manufacturing and clinical R&D. The site spans 1.82 million square feet, including a dedicated 400,000-square-foot production facility.
• Suzhou, China (small molecule manufacturing): Supports clinical and commercial-scale production in accordance with applicable FDA, EMA and GMP requirements.
• Guangzhou, China (biologics and ADC manufacturing): A 1.3 million-square-foot facility supporting R&D and production of antibody-drug conjugates (ADCs) and serving as a supply hub for the Greater Bay Area, including Hong Kong.

BeOne has also been recognized by industry organizations for its innovation, including being named one of the “Top 10 Most Inventive” pharmaceutical companies by IDEA Pharma in 2025^[1]. The company will continue to advance programs in hematologic malignancies and solid tumors, with Hong Kong serving as a strategic hub to support the delivery of innovative therapies globally.

1. 2025 Pharmaceutical Innovation and Invention Index, IDEA Pharma

This material is intended for the purpose of communicating disease-related knowledge and cutting-edge medical information to the public and is not intended for promotional or advertising purposes. It does not constitute a promotion or recommendation for any medication or treatment plan, nor can it serve as a substitute for the advice of medical and health professionals. If you have any questions, please consult a medical or health professional.

Hashtag: #BeOneMedicines

https://www.beonemedicines.com/

The issuer is solely responsible for the content of this announcement.

About BeOne Medicines

BeOne Medicines is a global oncology company domiciled in Switzerland, focused on discovering and developing innovative treatments designed to be more affordable and accessible to cancer patients worldwide. With a portfolio spanning hematology and solid tumors, BeOne is advancing a diverse pipeline of novel therapeutics through internal capabilities and collaborations. With a growing global team of nearly 12,000 colleagues spanning six continents, the Company is committed to improving access to medicines for more patients. To learn more about BeOne, please visit www.beonemedicines.com and follow us on LinkedIn, X, Facebook and Instagram.

About HKCT Business Awards 2026

Organized by the Hong Kong Commercial Times, the HKCT Business Awards is a representative annual event in the Hong Kong business community. It honors companies demonstrating excellence, innovation, and significant contributions to Hong Kong’s economy and society across dimensions including technological innovation and market competitiveness.