India attractive source of new listings for Singapore Exchange

"In return, we offer an international listing platform with breadth and depth, an economy that is a spring board to South East Asia and North Asia, and sector strengths such as Marine, Offshore and Energy, REITs and Property Trust, Resources and Commodity Trading to name a few," he told reporters.

Wong also stressed on close cultural and political ties between Singapore and India.
Four Indian companies as well as nine Indian Global Depository Receipts and a number of bonds are listed on the SGX.

Meanwhile, a number of Indian companies are planning Initial Public Offers (IPOs) out of Singapore for listing on the SGX."SGX welcomes all good quality Indian companies to list on SGX, either via a primary or secondary listing or via products such as REITs and Business Trust," said Wong.

SGX also offers two listing platforms - the Main Board that is suitable for more established companies and Catalist that is designed for growth companies.
The rules of the two platforms are equally applicable to all listed companies regardless of their origin.

Wong also highlighted the SGX's increased activities over the last six months.
SGX has launched 12 new listings in the second quarter of financial year 2010, and seven new listings in the third quarter.

Meanwhile, banking sources said Indian heavyweight property groups such as DLF Ltd and Unitech Ltd are planning to revive IPOs out of Singapore.DLF has SGD 1.5 billion IPO plan and Unitech SDG 500 million, both of which were delayed due to the 2008-09 global financial crises.

Some 4,000 Indian companies are operating out of Singapore, especially targeting the Southeast Asian and China markets.These companies are also enjoying lower trade tariffs under the India-Singapore Comprehensive Economic Cooperation Agreement, which came into effect in 2005.