MAS: Annual report 2006 / 2007
CONTENTS
HOME
 
ENTERPRISE: Our Role
BUILDING ON A ROBUST MACROECONOMIC ENVIRONMENT
DEVELOPMENTS IN THE SINGAPORE SECURITIES MARKET
FOSTERING A SOUND & REPUTABLE FINANCIAL CENTRE
RISK MANAGEMENT & INFRASTRUCTURE
GROWING SINGAPORE AS AN INTERNATIONALLY COMPETITIVE FINANCIAL CENTRE
CURRENCY
ORGANISATIONAL INITIATIVES
GROWING SINGAPORE AS AN INTERNATIONALLY
COMPETITIVE FINANCIAL CENTRE
34
Asset Management 34
Box 7 - Emerging Clusters In Singapore’s Financial Services 35
Active Trading in the Equities and Derivatives Market 37
Leading Real Estate Investment Trusts Market in Asia 38
Shipping Trusts Seek Singapore Listing 38
Infrastructure Finance Taps the Capital Markets< /td> 38
Box 8 - Regulatory Oversight Of Commodity Futures 38
Growth in Collateralised Debt Obligations Market 39
Growth in Over-the-Counter Commodity Derivatives  
  Central Counterparty Clearing Activity 39
Box 9 - Listing Of Pioneer Exchange Traded Funds 39
 
Infrastructure Finance Taps the Capital Markets
The World Bank estimates that infrastructive needs in developing East Asia are expected to reach US$200 billion per annum between 2006 and 2010. To fund this, private sector investment is needed to complement public sector expenditure. Singapore, as the leading infrastructure player and financing centre in Asia, is well-placed to contribute to the growing needs for infrastructure financing within the region.

In February 2007, the first infrastructure trust in Asia was listed on the SGX, creating a new asset class in the Singapore market. Infrastructure trusts, which are structured as business trusts under the Business Trust Act, give investors exposure to income stream from regional infrastructure assets.

Singapore’s first infrastructure bonds backed by gas and water utilities assets were also issued on the back of this transaction. Singapore now has a range of long-dated debt capital market instruments to help investors with long-dated liabilities manage their risks, including the successfully auctioned 20-year Singapore Government Securities.