Shanghai Turbo told to hold 2 annual general meetings by end-August

Regulator rejects Shanghai Turbo’s extension request for FY2024 and FY2025 AGMs over delay reasons.

The Singapore Exchange Regulation (SGX RegCo) has directed Shanghai Turbo Enterprises Limited to hold its annual general meetings (AGMs) for the financial years ended 31 December 2024 (FY2024) and 2025 by 31 August, according to a notice on 24 March.

Shanghai Turbo last held an AGM on 29 August 2025 for the financial year ended 31 December 2023.

The company’s request for an extension to hold its FY2024 AGM was rejected, as SGX RegCo found no valid reasons.

The notice states that failing to hold the AGMs on time would breach Mainboard Rule 707(1), which requires AGMs to be held within four months of the financial year-end.

SGX RegCo said the AGM allows shareholders to review financial performance, approve directors’ statements and audited accounts, and vote on resolutions, including director appointments or re-elections.

The exchange warned that non-compliance could lead to disciplinary action against the company and its directors or executive officers, including placement on the Directors’ and Executive Officers’ Watchlist.

Directors who leave before compliance may be classified as ‘jump ship’ directors.

SGX RegCo added that complying with the notice does not prevent action for past breaches.

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