We have made some enhancements to the year-end disclosure report to facilitate the below scenarios:
 

1) When a company ceases to be part of a related companies group and is removed from the same during the financial year. 

2) When a company becomes part of a related companies group and is added to the same during the financial year. 

3) When a company is merged with another company during the financial year.


For Scenario 1: When a company ceases to be part of a related companies group and is removed from the same during the financial year. 

 

Example: 

Company A (a related company),

- Financial year: From 1 April 2022 to 31 March 2023.

- Ceased to be part of a related companies group and is removed from the same on 1 Jan 2023.

- A Director owns 500 Ordinary Shares in Company A since 1 Feb 2022.
 

When the Director or his/her Authorised Preparer generates the year-end disclosure for other interests the Director holds under the related companies group on 31 Mar 2023, the year-end disclosure shows an opening balance of 500 Ordinary Shares and a closing balance of “N.A for Company A.



For Scenario 2: When a company becomes part of a related companies group and is added to the same during the financial year. 
 

Example: 

Company B (a related company),

- Financial year: From 1 April 2022 to 31 March 2023.

- Becomes part of a related companies group and is added to the same on 1 Jan 2023.

- A Director owns 100,000 Ordinary Shares in Company B since 1 Feb 2022

 

When the Director or his/her Authorised Preparer generates the year end disclosure for other interests the Director holds under the related companies group on 31 Mar 2023, the year end disclosure shows an opening balance of “N.A.” and a closing balance of 100,000 Ordinary Shares for Company B.


For Scenario 3: When a company is merged with another company during the financial year. 

 

Example: 

Company C (a related company)

- Financial year: From 1 April 2022 to 31 March 2023.

- Assuming Company C is the manager of Trust I and Company D is the manager of Trust II. 

- On 1 Jan 2023, Trust I merged with Trust II resulting in the sell-off of all units in Trust I

- A Director owns 400,000 units in Trust I since 1 Feb 2022

 

When the Director or his/her Authorised Preparer generates the year-end disclosure for the interests the Director holds under the related companies group on 31 Mar 2023, the year-end disclosure shows an opening balance of 400,000 units and a closing balance of “N.A” for Trust I under Company C.


Important Notes:

1) Adding or removal of the company from the Related Companies List or merging the company shares can only be done by the Board.Vision Engineering Team. The Engineering Team will update it based on the information provided by the company.

 

2) Adding or removal of the company from the Related Companies Group under the Related Companies tab will only add or remove the company from the year-end disclosure instead of displaying the opening or closing balances of the relevant securities as “N.A”.



If you face any issues, please reach out to our Customer Experience Team at support@board.vision or +65 69097100 and we will be happy to help. 

 

Our hotline operating hours are from Mondays to Fridays 9:00 AM to 6:00 PM SGT (excluding public holidays).