Singapore must be realistic about global trends affecting its stock market: DPM Wong

SINGAPORE needs to be realistic about global trends affecting the city-state equity market and what steps can be taken to change them, Deputy Prime Minister Lawrence Wong said on Wednesday (May 8).

Wong, who is also Finance Minister, said conditions for Singapore's stock market to attract companies to list remain challenging.

But he also noted that stock exchanges in developed markets, such as the UK and Hong Kong, suffer from the same problem.

Global IPO revenues continue to decline, falling 33% in 2023. In the Asia-Pacific region, they fell even more, to 44%, Wong said.

High-growth companies backed by private equity and venture capital have the opportunity to stay private longer in a sustained high interest rate environment. Those who choose to go public tend to look to the United States because of its capital market and deep, liquid investor base, he added.

Wong was responding to a parliamentary question from Sengkang GRC MP Louis Chua, on the effectiveness of existing measures to increase the attractiveness of the Singapore stock market. He also asked whether the government would encourage private companies in which it holds shares to list on the Singapore Exchange (SGX).

GET BT IN YOUR DAILY INBOX

Start and end each day with the latest news and analysis delivered straight to your inbox.

The Financial Times recently reported that government agencies were studying proposals from an investors association that includes state funds such as GIC and Temasek to shake up its struggling stock market.

Wong, who will become Singapore's prime minister next Wednesday, noted that the government and SGX had implemented several initiatives to consolidate listings.

These include a range of funds to support high-growth companies, as well as grant programs to cover listing fees and increase research coverage of listed stocks in Singapore.

SGX has also attempted to expand market access by working with the Thai Stock Exchange on the listing of depository receipts.

A depository receipt represents shares of a foreign company traded on a local stock exchange and gives investors the opportunity to own shares in the equity of foreign countries.

While the Government will continue to encourage companies incubated here to list on the SGX, Wong noted that GIC and Temasek operate on a commercial basis and have a mandate to generate good long-term returns for the benefit of Singapore and Singaporeans .

They regularly engage their portfolio companies on options to create shareholder value, which may include a listing in Singapore, he added.

However, final listing decisions will need to be made by the companies themselves, based on their business objectives and growth plans.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos