Bank Indonesia (BI) and MAS announced the commencement of work on a cross-border QR payment linkage between Indonesia and Singapore as part of the ASEAN-wide payments connectivity effort. BI and MAS have also signed a Memorandum of Understanding to promote the use of local currencies in bilateral transactions such as trade and direct investments.
Joint Statement By Monetary Authority of Singapore And Securities and Exchange Commission of Thailand
MAS and SEC Thailand welcome the launch of the Thailand-Singapore DR Linkage
Singapore, 15 September 2021... The Monetary Authority of Singapore (MAS) and the Securities and Exchange Commission of Thailand (SEC Thailand) welcome the launch of the Thailand-Singapore Depositary Receipts (DR) Linkage by the Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET).
2 Under the DR Linkage, depositary receipts representing securities listed on one market will be issued for trading on the other. The enhanced connectivity between the two markets will increase cross-border investment opportunities for investors.
3 “To promote development of cross-border products, SEC Thailand has put considerable efforts to revise rules and regulations related to DR issuance in Thailand, which entered into force on 16 June 2021. These amendments help to enhance flexibility for DR issuers and to increase investment options for investors. This initial collaboration between SGX and SET is a welcome addition to Thailand and Singapore cross-border development. SEC Thailand looks forward to the successive implementation and participation from market stakeholders. Meanwhile, we will continue to explore further collaborations with MAS in order to advance our capital markets development in the future,” said Ms Ruenvadee Suwanmongkol, SEC Thailand Secretary-General.
4 “This initiative demonstrates the collaborative efforts between Thailand and Singapore to improve the inter-connectivity between our two markets and provide investors access to a wider range of investment opportunities. We look forward to the successful introduction of DRs under the DR Linkage, and will continue to work closely with SEC Thailand to further enhance mutual connectivity and broaden investment selections for our investors,” said Mr Lim Tuang Lee, Assistant Managing Director (Capital Markets), MAS.