Singapore MAS Setup Review Group to Strengthen Equities Market Development Including Attracting Primary & Secondary Listings / IPOs and Improving Liquidity of Equity Market in Singapore Review Group Will Provide Recommendations in Report in 12 Months, Chaired by Deputy MAS Chairman Chee Hong Tat & 9 Members, MAS MD Chia Der Jiun, Temasek CEO Dilhan Pillay, SIM Chairman Euleen Goh, SGX Chairman Koh Boon Hwee, Minister of Finance Permanent Secretary Lai Chung Han, Enterprise Singapore Chairman Lee Chuan Teck, Singapore Business Federation Chairman Lim Ming Yan, Singapore EDB Chairman Png Cheong Boon & Tikehau Capital Neil Parekh
3rd August 2024 | Hong Kong
The Monetary Authority of Singapore (MAS) has setup a Review Group to strengthen equities market development in Singapore including to attract primary & secondary listings / IPOs and improving liquidity of equity market in Singapore. The Review Group will provide recommendations in a report in 12 months, with the Review Group chaired by Deputy MAS Chairman Chee Hong Tat (Minister for Transport, Second Minister for Finance and Board Member of MAS) and 9 members (MAS MD Chia Der Jiun, Temasek CEO Dilhan Pillay, SIM Chairman Euleen Goh, SGX Chairman Koh Boon Hwee, Minister of Finance Permanent Secretary Lai Chung Han, Enterprise Singapore Chairman Lee Chuan Teck, Singapore Business Federation Chairman Lim Ming Yan, Singapore EDB Chairman Png Cheong Boon & Tikehau Capital Neil Parekh). MAS (2/8/24): “The Monetary Authority of Singapore (MAS) today announced that a Review Group has been set up to recommend measures to strengthen equities market development in Singapore. The Review Group will be chaired by Mr Chee Hong Tat, Minister for Transport, Second Minister for Finance and Board Member of MAS, and comprise key private sector stakeholders and public sector representatives. A dynamic equities market is an important part of the capital formation value chain, alongside Singapore’s growing private equity and venture capital ecosystem. A deep and liquid public equities market enables companies to access capital as they expand regionally and globally. It also allows asset owners and the investing public to participate in the growth of quality companies. Improving the attractiveness of Singapore’s equities market can therefore enhance Singapore’s standing as a vibrant enterprise and financial hub. This in turn complements Singapore’s innovation and start-up ecosystem, private markets, as well as asset and wealth management sectors. The Government has introduced various initiatives to support enterprise financing and enhance Singapore’s equities markets. These include the set-up of cornerstone funds to support initial public offerings of high-growth companies, introduction of corporate structures and share classes to facilitate such listings, and measures to improve research coverage. The Review Group will build on these efforts to position Singapore’s equities market for growth. The Group will consider additional initiatives to improve the vibrancy of our equities market, and study ways to galvanise greater private sector participation in this effort, including from capital market intermediaries, investors, and listed companies. The Review Group will be supported by two workstreams: 1) The Enterprise and Markets workstream will aim to address market challenges, foster listings, and facilitate market revitalisation; and 2) The Regulatory workstream will focus on enhancing the regulatory regime to facilitate market growth and foster investor confidence. Through the two workstreams, the review process will involve stakeholders with expertise and experience in diverse fields in the capital markets, including corporate finance, investment banking, asset management, legal services, and corporate governance. The Review Group will recommend a set of measures to strengthen the Singapore equities market and complete its report within 12 months.” View: Terms of Reference and Composition of the Review Group
“ Singapore MAS Setup Review Group to Strengthen Equities Market Development Including Attracting Primary & Secondary Listings / IPOs and Improving Liquidity of Equity Market in Singapore Review Group Will Provide Recommendations in Report in 12 Months, Chaired by Deputy MAS Chairman Chee Hong Tat & 9 Members, MAS MD Chia Der Jiun, Temasek CEO Dilhan Pillay, SIM Chairman Euleen Goh, SGX Chairman Koh Boon Hwee, Minister of Finance Permanent Secretary Lai Chung Han, Enterprise Singapore Chairman Lee Chuan Teck, Singapore Business Federation Chairman Lim Ming Yan, Singapore EDB Chairman Png Cheong Boon & Tikehau Capital Neil Parekh “
Chair: Chee Hong Tat (徐芳达), Minister for Transport, Second Minister for Finance and Board Member of Monetary Authority of Singapore
Members :
- Chia Der Jiun (谢啇真), Managing Director, Monetary Authority of Singapore
- Dilhan Pillay, Chief Executive Officer, Temasek Holdings
- Euleen Goh (吴幼娟), Chairman, Singapore Institute of Management
- Koh Boon Hwee (许文辉) Chairman, Singapore Exchange
- Lai Chung Han (黎忠汉), Permanent Secretary (Development), Ministry of Finance
- Lee Chuan Teck (李全德) Chairman, Enterprise Singapore
- Lim Ming Yan (林明彦), Chairman, Singapore Business Federation
- Png Cheong Boon (方章文), Chairman, Singapore Economic Development Board
- Neil Parekh, Partner & Head of Asia, Australia and New Zealand, Tikehau Capital
Singapore MAS Setup Review Group to Strengthen Equities Market Development Including Attracting Primary & Secondary Listings / IPOs and Improving Liquidity of Equity Market in Singapore Review Group Will Provide Recommendations in Report in 12 Months, Chaired by Deputy MAS Chairman Chee Hong Tat & 9 Members, MAS MD Chia Der Jiun, Temasek CEO Dilhan Pillay, SIM Chairman Euleen Goh, SGX Chairman Koh Boon Hwee, Minister of Finance Permanent Secretary Lai Chung Han, Enterprise Singapore Chairman Lee Chuan Teck, Singapore Business Federation Chairman Lim Ming Yan, Singapore EDB Chairman Png Cheong Boon & Tikehau Capital Neil Parekh
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