Singapore to revitalize stock market

A newly-established review group with representatives from both the private and public sectors will propose measures to revitalize Singapore’s struggling stock market.

Announced recently by the Monetary Authority of Singapore (MAS), the panel will be chaired by Second Minister for Finance and MAS board member Chee Hong Tat.

Other members include MAS managing director Chia Der Jiun, Temasek chief executive Dilhan Pillay, Singapore Institute of Management chairman Euleen Goh, and Singapore Exchange (SGX) chairman Koh Boon Hwee.

The group will assess the current state of the local equities market, and examine measures to address identified challenges. It will propose strategies to support and encourage SGX-listed companies to build capabilities and expand internationally.

Besides, it will also review the key elements of Singapore’s regulatory approach to foster an enabling ecosystem, including the listing regime.

Recommendations will be made to attract primary and secondary listings to the nation. The group will suggest targeted measures to facilitate product offerings and improve liquidity in Singapore’s equity market, broadening the pool of potential initial public offerings, and propose outreach and communication strategies to enhance the attractiveness of the local equities market, promoting it to issuers and investors.

MAS said that the review group will be supported by two work streams. The enterprise and markets work stream will address market challenges, foster listings and facilitate market revitalisation, while the regulatory work stream will focus on enhancing the regulatory regime to promote market growth and foster investor confidence.

The group will recommend a set of measures and complete its report within 12 months.