$SGX (S68.SG)$ Singapore[Share Link: Treasury]Second Ministe...
SingaporeTreasurySecond Minister Xu Fangda said that the country is preparing to carry out “bold reforms” to the regulatory structure to revive the sluggish stock market.
Xu Fangda is currently presiding over a task force to study ways to strengthen the stock market. He said the group's goals are to abolish outdated rules, encourage high-quality companies to join the listing ranks, and improvemobility. He mentioned that measures may include reducing listing costs and expanding the stock derivatives pool, which will be implemented in stages before the end of the 12-month evaluation period.
Xu Fangda is currently presiding over a task force to study ways to strengthen the stock market. He said the group's goals are to abolish outdated rules, encourage high-quality companies to join the listing ranks, and improvemobility. He mentioned that measures may include reducing listing costs and expanding the stock derivatives pool, which will be implemented in stages before the end of the 12-month evaluation period.
“Reviving our stock market is not an easy task, given the various global resistances faced by other exchanges and the increasing competition in this field,” he said at an event in Singapore on Monday, “but we are ready to make changes and try new ideas. Because if we don't try, our chances of success are zero.”
Demand from the industry to boost the local stock market is getting louder and louder. The Singapore stock market has always been plagued by poor performance, shrinking market capitalization, and low trading volume. The working group members includecentral bank, representatives of Temasek Holdings, Singapore Exchange, and other industry stakeholders.
Xu Fangda said that one area being discussed is simplifying prospectus disclosure requirements for initial public offerings and second-listed issuers. The Singapore Monetary Authority will also consider canceling allretailSome customer restrictions.
Xu Fangda said that one area being discussed is simplifying prospectus disclosure requirements for initial public offerings and second-listed issuers. The Singapore Monetary Authority will also consider canceling allretailSome customer restrictions.
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