Singapore Exchange has been planning to adopt austere business governance rules and will ask the companies to give detailed information about their legal legislature and domestic controls.

The Exchange has come up with the new rule plan to facilitate the investors who find it difficult to invest in the companies, as they are not aware of the accounting procedures of these firms. In 2009, in a survey, a large number of investors had reveled their concerns and suspicious nature about these firms.

Also, it has asked the companies to take exchanges approval if in case they have decided to appoint new directors, chief executive officers and other chief financial officers.

China ensures that each company has its own legal ambassadors, so now onwards the companies would have to unveil the name of their legal representative and the level of authority the person has in the company.

Nearly, 150 Chinese firms who have been enlisted in the exchange will now have to give the details to the exchange.

Also, the companies will be asked to have a vigorous system to ensure internal controls so that the financial and operation measures could be checked. Also, the companies will be asked to give the details of the controlling shareholder who have guaranteed their shares for a loan agreement.