Catalist board may be reviewed, investor protection strengthened

These are among measures being studied by MAS review group to reform local market

- Kang Wan Chern Deputy Business Editor

More measures are being studied to reform the Singapore stock market, after the first measures to attract new listings and boost investor confidence were announced on Feb 18 and Feb 21.

The measures were described by Temasek chief executive Dilhan Pillay as "the most significant" in reforming the Singapore stock market in almost 30 years.

The announcements came after tax incentives and rebates to encourage companies and funds to list here were announced during Budget 2025 on Feb 18, with plans to extend and expand similar incentives for Singapore-listed real estate investment trusts.

More measures are being considered and will be announced in the months ahead.

These include undertaking a review of Singapore Exchange's (SGX) Catalist board, which was established in 2007 to facilitate the listing of smaller, fast-growing companies that may not meet the mainboard's listing requirements.

But while Catalist offers companies a more flexible listing regime, some firms are loss-making with limited growth potential, and many are poorly traded.

"The review group notes that SGX is reviewing the value proposition and regulatory framework of Catalist, and will consider further measures in due course," the Monetary Authority of Singapore (MAS) said.