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.
Mr Ravi Menon, Managing Director, MAS, spoke on MAS' efforts to build three foundational digital infrastructures, as well as MAS’ collaboration with UNDP to maximise opportunities for MSMEs.
Joint Statement of the 10th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM)
State Bank of Vietnam, the central bank of Viet Nam, has officially joined the Regional Payment Connectivity (RPC) initiative. This recent development is an expansion of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) that was initiated by the central banks of Indonesia, Malaysia, Philippines, Singapore, and Thailand at the sidelines of the G20 Leaders’ Summit.