On February 21, the MAS Securities Market Review Panel announced the launch of the S$5 billion Securities Market Development Plan (EQDP) to boost the stock market. Simultaneously, the Singapore Exchange (SGX) will accelerate and simplify corporate listing processes to attract more IPOs.
In addition, the Singapore government will adjust the Global Investor Program (GIP) under the Economic Development Board. Going forward, applicants seeking to set up a single family office in Singapore under this scheme must invest at least S$50 million out of their S$200 million in assets under management (AUM) in stocks listed on the Singapore Exchange. Previously, single family offices under this program could invest in listed stocks, REITs, business trusts, funds issued in Singapore, etc., but now only locally listed stocks are allowed.
