24 January 2022, Singapore (PRWEB) January 23, 2022 Leading Dutch floating engineer Jan Willem Roël is internationalising his firm, FlexBase, through the
The 2010s have seen Stockholm’s ascent as a major European startup up and development of a finance centre perceived as a contender to London. More notably, it has evolved a sustainable…
The initial public offer (IPO) of Nanofilm Technologies on the Singapore Exchange (SGX) may represent the same inflection point that the listing of Xero Technologies did for the Australian Securities Exchange (ASX).
The listing of Xero in late 2012 laid the foundation for the ASX to establish its brand as an ‘“Asia-Pacific Nasdaq”. It has positioned itself as a bourse able to support the finance needs of growth-stage technology enterprises.
So will Nanofilm’s listing in October 2020 enable the SGX to burnish itself as a platform for technology enterprises?
In 2020, Singapore saw the number of public companies on Singapore Exchange (SGX) hit a low of 697 following 26 corporate delistings, as per bourse figures. That marked a second year where more businesses left the Singapore public market than joined it.
With Singapore seeking to revive its lacklustre equities market, it may have the potential to forge a niche as a dual listings node for corporates looking to tap Asian capital markets and internationalise.
If the secondary listing of NYSE-listed AMTD International on the Singapore bourse in April 2020 is any indication, it could build an appeal to technology and finance firms seeking international capital exposure. This is especially relevant as technology major Grab, Singapore’s most visible and valuable venture-backed technology enterprise, prepares for a US$2.7 billion share sale in New York. Though for sustained success, Grab will need to strengthen the viability of its financial services arm to sustain its success on public markets.
Singapore can revive its economic engine and equity markets with Central Provident Fund (CPF) reforms. Tapping CPF cash to induce positive feedback loops between Singapore’s pension assets and capital markets can economically revive the domestic economy and mitigate the risks of income disparity in the post-COVID world.
Successful financial centres like New York City, London and Hong Kong enjoy major economic benefits, generating significant revenue through financial services. In 2018, Hong Kong’s financial services sector accounted for 20% of GDP and 7% of the workforce, compared to 13.9% of GDP and 5% of the workforce in Singapore.
However, Singapore’s strength in wealth management and banking does not meaningfully contribute to the real economy. “Do banking sector and stock market development matter for economic growth?” published in 2019 by Empirical Economics, illustrates how banking sector growth failed to contribute to real economic growth which sustains employment