Shareholder Right to Financial Statements in Singapore: Timing, Format and Free Copies

Short answer: Under section 203 of the Companies Act 1967, a Singapore company must send its financial statements (with the auditor’s report, where audited) to everyone entitled to notice of general meetings, at least 14 days before the AGM or, if the AGM is dispensed with under the five-month route, within five months of year end. Any member who was not sent a copy can ask for the last set free of charge.

The shareholder right to financial statements in Singapore is set by section 203 of the Companies Act 1967, and it works in two layers: an automatic duty on the company to send the accounts to members on time, and a separate right for any member to ask for a free copy of the latest set. This guide explains who is entitled, when the copies must go out, what they must contain, how the private-company AGM exemption changes the timing, and what a member can do if the company does not comply. It reflects the Act as published on Singapore Statutes Online and ACRA’s guidance as at 7 November 2026.

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Who is entitled to receive the financial statements?

Section 203(1) says the copies must go to “all persons entitled to receive notice of general meetings of the company”. For most private companies that means the members on the register, so every shareholder, including a minority holder with a single share, is on the distribution list.

Section 203(3) then adds a catch-all. Any member of a company, whether or not entitled to be sent copies automatically, can request the last financial statements and the auditor’s report, and so can any holder of a debenture. If you hold shares through joint names, through a nominee or through a corporate holder, check who is actually recorded as the member, because the company deals with the registered holder. Our guide to the register of members explains how that record works.

What exactly must be sent?

The company must send a copy of the financial statements for the year, and where the company is a parent company, the consolidated financial statements and the parent’s balance sheet. Section 203(1) includes “every document required by law to be attached” to them, accompanied by a copy of the auditor’s report.

In practice the pack usually contains the following:

• the statement of financial position (balance sheet), the statement of comprehensive income and the notes to the accounts;
• the directors’ statement, which section 201(16) requires to accompany the financial statements laid before a company at its general meeting;
• the independent auditor’s report, if the company is audited.

If the company is exempt from audit, section 205B(4) (dormant companies) and section 205C(2) (small companies) apply the same rule: the copies need not be audited and section 203 is read without the references to the auditor’s report. A small company that is exempt from audit therefore sends only the unaudited statements, and members do not receive an auditor’s report because none exists. Our guide to the small company audit exemption sets out how the test works.

A company may send a summary financial statement instead of the full set only in cases and on conditions set by regulations, and a member who wishes to receive the full documents must be sent them (section 203A).

When must the company send the financial statements?

It depends on whether the company holds an AGM. If it does, the copies go out at least 14 days before the meeting. If a private company is not required to hold an AGM under the five-month route, the copies go out within five months after the financial year end.

ACRA’s guidance on AGM due dates states that a non-listed company must hold its AGM within six months after its financial year end, which means the accounts for a company with a 31 December year end must be in members’ hands at least 14 days before an AGM held by 30 June. For the five-month route, the same company must send the accounts by 31 May. For dates and planning, see our AGM requirements guide, and for the five-month trap see what to do when the financial statements arrive after five months.

How does the private-company AGM exemption change the timing?

It moves the deadline from the AGM to a fixed date, and it replaces laying the accounts at a meeting with sending them to members. ACRA lists two exemptions for private companies: sending financial statements to all members within five months after the financial year end, and being a dormant company that is not listed and has total assets of S$500,000 or less.

Section 201C(1) confirms that the directors of a private company need not lay the financial statements at an AGM if the company need not hold one because of section 175A(1). Section 201C(2) reads the auditor’s reporting duty in section 207(1) as referring to the documents sent under section 203(1). Section 201AA(1)(b) then requires the company to keep a copy of what was sent for at least five years after the date it was sent.

Dispensing with the AGM by a members’ resolution is a different route from the exemption. ACRA says private companies can choose not to hold AGMs if all members pass a resolution to dispense with the AGM, and can handle AGM matters through written resolutions. A company that has dispensed with its AGM still has to declare its AGM position when it files its annual return. Our guide on when a Singapore private company can skip the AGM compares the routes.

Can a member still ask for a meeting after receiving the accounts?

Yes, in the cases the Act covers. Where a company is not required to hold an AGM because it sends the accounts under section 175A(1)(a), any member or the auditor may give notice to the company not later than 14 days after the day the documents were sent out, requiring a general meeting to lay them before the company (section 203(4)). Section 203(4A) gives the same right where the company is not required to hold an AGM because of section 175A(1)(b).

The directors must then convene the meeting within 14 days after the date the notice was given (section 203(6)). If they fail, each director in default commits an offence carrying a fine of up to S$5,000, and the Court may, on the application of the member or auditor, order a general meeting to be called (section 203(7)).

How does a member ask for a copy, and what should the company do?

A member asks the company, and the company must furnish the last financial statements and the auditor’s report without charge. The Act does not require the request to be in a particular form, but a written request by email or letter to the registered office or company secretary gives the member a record.

1. Write to the company (care of the company secretary or the registered office), identify yourself as a member by name and the shares held, and ask for a copy of the last financial statements and, if the company is audited, the auditor’s report, citing section 203(3) of the Companies Act 1967.
2. Ask for the whole document set, including the directors’ statement and the notes, because section 203(3) refers to every document required by the Act to be attached.
3. Note the date of your request. The company cannot charge for the copy.
4. If the company does not reply, send a short reminder and keep a copy. A company and each officer in default commit an offence under section 203(3A), unless the member had in fact already requested and been given the documents.

In what format can the financial statements be sent?

Section 203(1) says the copies “must be sent”. The sections of the Act reviewed for this article do not prescribe a format such as paper or PDF, so the means of sending should be checked against the company’s constitution and what the members have agreed. Whatever the means, keep proof of the date and recipients, because the 14-day and five-month periods run from sending. Our guide to sending an AGM notice by email covers electronic delivery of notices.

What happens if the company does not send the accounts?

Failing to comply with section 203(1) or (3) is an offence by the company and every officer in default, punishable by a fine of up to S$5,000 and a default penalty. There is a defence for the member-request limb where the member in question had already asked for and been given the documents.

The wider exposure is bigger than this one fine. Directors who fail to comply with provisions of Division 1 of Part 6 more generally (other than certain sections) can face a fine of up to S$10,000 or imprisonment of up to two years under section 204(1A), which covers failure to take all reasonable steps to secure compliance. A company that sends its accounts late may also miss the five-month exemption and have to hold an AGM instead, and missing the AGM and annual return deadlines brings ACRA enforcement. Our article on ACRA summonses for missed AGMs and annual returns explains what to expect.

Frequently asked questions

Can a shareholder get the company’s financial statements for free?

Yes. Under section 203(3), a member to whom copies have not been sent can request the last financial statements and the auditor’s report, and the company must furnish them without charge.

Does a company have to send the accounts if it has dispensed with its AGM?

If the company relies on the five-month exemption, it must send the financial statements to persons entitled to notice within five months after the financial year end. If it has dispensed with the AGM by a resolution of all members, check the position carefully with your adviser, because the member’s separate right to request the last accounts under section 203(3) still applies.

Is a small company that is exempt from audit still required to send the accounts?

Yes. Exemption from audit only means the copies need not be audited and the auditor’s report is left out. Members are still entitled to the unaudited financial statements and the directors’ statement.

For more on reading what you receive, see our guide to how to read and interpret financial statements in Singapore. The statute is on Singapore Statutes Online, and ACRA’s guidance is on its AGM due dates and requirements page. Corporate services for Singapore companies are also available from Raffles Corporate Services.

Last reviewed: 7 November 2026. The Editorial Team, Raffles Corporate Services.