For the new framework, the SC has made amendments to the equity guidelines, prospectus guidelines and asset valuation guidelines. The MOG assets must have generated at least one full financial year of audited operating revenue. Otherwise, the SPAC must have clear plans, and sufficient funds to do these plans, to advance the MOG assets to commercial production within two years. The company also must have, as its external auditor, an audit firm which has relevant MOG exploration or extraction industry expertise. The revised equity guidelines, prospectus guidelines and asset valuation guidelines are available on the SC’s website.

Source: The Star January 19, 2017 23:03 UTC