New review group set up to revive Singapore stock market

SINGAPORE – A new review group comprising representatives from the private and public sectors will propose measures to revive Singapore’s struggling stock market.

The panel, whose establishment was announced by the Monetary Authority of Singapore (MAS) on August 2, will be chaired by Second Minister for Finance and MAS Deputy Chairman Chee Hong Tat.

The other members are MAS managing director Chia Der Jiun, Temasek Holdings chief executive Dilhan Pillay, Singapore Institute of Management chairwoman Euleen Goh and Singapore Exchange chairman Koh Boon Hwee.

The group will assess the current situation on the local stock market and analyse remedial measures to address identified issues.

The project will propose strategies to support and encourage Singapore-listed companies to build capacity and expand internationally.

The review will also examine key elements of Singapore’s regulatory approach to creating an enabling ecosystem, including the listing regime.

Recommendations will be issued to attract primary and secondary offerings to Singapore. The group will propose targeted measures to facilitate product offerings and improve liquidity in the Singapore equity market, widening the pool of potential initial public offerings.

It will also propose communication and information strategies aimed at increasing the attractiveness of the Singapore stock market, promoting it to issuers and investors.

The MAS noted that a “deep and liquid” public equity market allows companies to access capital for regional and global expansion. It also allows asset owners and investors to participate in the development of high-quality companies.

“Improving the attractiveness of Singapore’s stock market could therefore strengthen Singapore’s position as a dynamic hub for entrepreneurship and finance,” the central bank said.

“This in turn complements Singapore’s innovation and startup ecosystem, private markets, as well as the asset and wealth management sectors.”