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SINGAPORE is studying proposals to shake up its struggling stock market as the gap between the financial hub’s performance and other regional exchanges widens.
The Singapore Exchange (SGX) is reviewing a document from the nation’s venture and private capital association, according to three people familiar with the discussions. The Singapore Venture & Private Capital Association (SVCA) includes state funds GIC and Temasek, local and global venture firms, and buyout groups including General Atlantic, Warburg Pincus and KKR.
Discussions have been going on since the beginning of the year, the people added, and the SVCA’s proposals are also being considered by the government’s Economic Development Board (EDB), Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI).
The government did not commission the document, but it has appeared as it discusses policy changes with SGX to boost the stock market. The two are responding to the next wave of South-east Asian companies – such as Singapore-based automotive marketplace Carro – opting for the US over Singapore to list.
“There has been a shift in thinking by the government that this is not just an SGX problem but important to Singapore’s national agenda. Is it possible to be a well-rounded and relevant international financial centre with an anaemic stock market? Perhaps not,” said an industry executive involved with the discussions.
One person involved in the document’s creation who did not wish to be named said he had “not seen an all-government and industry approach like this since Singapore first decided it wanted to foster a tech and venture capital industry in the late 2000s”.
“For the first time, they seem more willing to consider more maverick, aggressive moves such as investing pension money – which is normal elsewhere but new for Singapore.”
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Deep Sea OP : Let’s hope SG govt can bring back vibrancy to the local stock market.
104260287 : Our property stocks have gone down too much after last year’s cooling period. Time to get back again
Deep Sea OP 104260287 : Yup. ECB is going to cut rate sooner than FED.
102539156 Dan Deep Sea OP : Any chance FED not cutting rate this year?
Deep Sea OP 102539156 Dan : Low chance of FED not cutting rate. US economy is on the decline and unemployment rate is up if u notice big companies are retrenching workers. The consumers now have less money to spend.