{"id":13074,"date":"2025-11-20T11:10:10","date_gmt":"2025-11-20T03:10:10","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=13074"},"modified":"2025-11-20T11:10:10","modified_gmt":"2025-11-20T03:10:10","slug":"sgx-nasdaq-bridge-tax-incentives-featured-in-singapores-completed-equities-review","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=13074","title":{"rendered":"SGX\u2013Nasdaq Bridge, Tax Incentives Featured in Singapore\u2019s Completed Equities Review"},"content":{"rendered":"


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Singapore announced plans to create a dual listing bridge between the Singapore Exchange and Nasdaq to support cross-border listings, concluding a review<\/a> aimed at strengthening the equities market.<\/p>\n

The proposed platform will target Asian growth companies valued at least S$2 billion and would allow issuers to use a single set of offering documents to raise capital in both Singapore and the United States.<\/p>\n

The Monetary Authority of Singapore (MAS)<\/a>\u00a0expects the initiative to launch around mid-2026, subject to regulatory approvals.<\/p>\n

\"Chee
Chee Hong Tat<\/figcaption><\/figure>\n

National Development Minister Chee Hong Tat, who chaired the review group, said the effort \u201ctakes an entire ecosystem, the regulator, exchange, intermediaries, investors and listed companies themselves.\u201d<\/p>\n

The review also introduced a S$30 million Value Unlock programme, supported by the Equip and Elevate grants, to help listed companies improve corporate strategy, capital management and investor relations.<\/p>\n

The package will be paired with initiatives to strengthen outreach, communications and research coverage for eligible firms.<\/p>\n

Liquidity, Custody and Connectivity Take Focus in Latest Reforms<\/h3>\n

To boost demand for Singapore equities, MAS appointed six more managers under the S$5 billion Equity Market Development Programme<\/a>, allocating S$2.85 billion to BlackRock, Amova Asset Management, AR Capital, Eastspring Investments, Lion Global Investors and Manulife Investment Management.<\/p>\n

Total deployment now stands at S$3.95 billion, and the managers may participate in cornerstone allocations for new listings.<\/p>\n

SGX will strengthen market making for newly listed and small to mid-cap stocks outside the Straits Times Index, consult on adopting broker custody accounts to modernise post-trade processes, and cut board lot sizes for shares priced above S$10 from 100 units to 10 units.<\/p>\n

Connectivity measures will expand to include S$40,000 in grant support for each depository receipt issuance and higher funding for primary-listed and cross-listed ETFs.<\/p>\n

The reforms include a 20 percent corporate income tax rebate for new primary listings and a 10 percent rebate for secondary listings.<\/p>\n

Newly listed fund managers will qualify for a 5 percent concessional tax rate, while funds that invest at least 30 percent of their assets in Singapore equities will receive income tax exemptions.<\/p>\n

Changes to the Global Investor Programme will require eligible Single Family Offices to deploy at least S$50 million into Singapore equities.<\/p>\n

Chee said the reforms will help companies \u201carticulate compelling value propositions and build a continuing partnership with investors focused on sustainable growth.\u201d<\/p>\n

Regulatory updates include removing the financial watch-list and replacing it with a requirement for issuers to disclose when they record three consecutive years of pre-tax losses.<\/p>\n

MAS will also co-fund meritorious civil actions and allow designated representatives to bring action on behalf of investors in misconduct cases.<\/p>\n

Market Activity Shows Signs of Rebound<\/h3>\n

Average daily trading value rose 16 percent year-on-year in the third quarter to S$1.53 billion, the highest since early 2021, while small and mid-cap turnover increased 88 percent quarter-on-quarter.<\/p>\n

IPOs have raised more than S$2 billion so far this year.<\/p>\n

MAS will form an implementation committee co-chaired by MAS managing director Chia Der Jiun and SGX chief executive Loh Boon Chye to oversee execution of the measures.<\/p>\n

More details are expected in the first quarter of 2026.<\/p>\n<\/div>\n


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