Singapore's Stock Market Bull Run Is Just Getting Started, With Further Upside, Says Fund Chief

If sustained, it could raise valuations, boost sentiment, and draw new players to list

- Kang Wan Chern

Singapore's stock market is on the cusp of a bull run that, if sustained, may unlock a cycle of deeper liquidity, rising valuations and firmer investor confidence – conditions that set the stage for stronger returns.

A bull market, marked by a 20 per cent or more rise in share prices, can last for years and "be very positive for the economy", as it would enable listed companies to access capital to acquire or expand, and encourage younger firms to level up by going public.

It could also open the door for new players in emerging sectors to list and form clusters here and, over time, help the Singapore stock exchange position itself as the bourse of choice for other high-growth companies seeking stronger valuations.

These are the views of Mr Vincent Toe, managing director of ICH Asset Management, which is the asset management platform of ICH Group, a Singapore investment company he co-founded in 2000.

ICH Group supports younger companies by preparing them for and participating in their initial public offerings, as well as post-listing strategies through placements and additional investments. Over the past 25 years, it has advised and invested in more than 200 Singapore Exchange-listed companies.

"If the stock market continues to revive, this is our best chance for a sustained bull market, with the Government taking a coordinated approach for the first time, rate cuts on the horizon, and everything aligning at the right juncture," Mr Toe told The Straits Times in an interview.