Singapore MAS Equities Market Review Group Final Report on 18 Measures to Strengthen Singapore Equities Market: 1) S$6.5 Billion Equity Market Development Program Allocation to Asset Managers, 2) Global Investor Program (GIP) Single Family Offices Must Deploy S$50 Million into Singapore-Listed Equities, 3) Enhanced Grant for GEMS Research Development, 4) Tax Incentives for Fund Managers (Invests 30% in Singapore Equities, Existing Funds with 5% Net Inflow Yearly), 5) Enterprise Financing Support to Strengthen Growth of Companies, 6) Listing Corporate Income Tax (CIT) Rebate, 7) Concessionary Tax (CTR) Rebate for New Fund Managers Listing, 8) SGX-Nasdaq Dual Listing Bridge, 9) Expansion of GEMS Listing Grant to Include Depository Receipts, Cross-Listed & Feeder Funds, 10) Incentives to Enhance Market-Making Ecosystem for Singapore Equities to Lower Execution Costs, 11) Modernisation of Post-Trade Custody Model to Facilitate Wider Adoption of Broker Custody Accounts, 12) Reduce Board Lot Size for Securities Priced Above S$10, 13) Enhancement of Investor Recourse Avenues Against Market Misconduct, 14) “Value Unlock” Program to Help Listed Companies on Shareholder Engagement & Value Creation, 15) Consolidate Listing Review Functions into SGX RegCo, 16) Streamline SGX RegCo Qualitative Admission Criteria, 17) Streamline Prospectus Requirements & Listing Processes and 18) Targeted Approach to Post-Listing Queries, Alerts & Trading Suspensions
29th March 2026 | Hong Kong
Monetary Authority of Singapore (MAS) has released the Equities Market Review Group Final Report on 18 measures to strengthen Singapore equities market – 1) S$6.5 billion Equity Market Development Program allocation to asset managers, 2) Global Investor Program (GIP) single family offices must deploy S$50 million into Singapore-listed equities, 3) Enhanced grant for GEMS research development, 4) Tax incentives for fund managers (Invests 30% in Singapore equities, existing funds with 5% net inflow yearly), 5) Enterprise financing support to strengthen growth of companies, 6) Listing Corporate Income Tax (CIT) rebate, 7) Concessionary Tax (CTR) rebate for new fund managers listing, 8) SGX-Nasdaq dual listing bridge, 9) Expansion of GEMS listing grant to include depository receipts, cross-listed & feeder funds, 10) Incentives to enhance market-making ecosystem for Singapore equities to lower execution costs, 11) Modernisation of post-trade custody model to facilitate wider adoption of broker custody accounts, 12) Reduce board lot size for securities priced above S$10, 13) Enhancement of investor recourse avenues against market misconduct, 14) “Value Unlock” program to help listed companies on shareholder engagement & value creation, 15) Consolidate listing review functions into SGX RegCo, 16) Streamline SGX RegCo qualitative admission criteria, 17) Streamline prospectus requirements & listing processes and 18) Targeted approach to post-listing queries, alerts & trading suspensions. View Singapore MAS Equities Market Review Group Final Report here. In 2026 February, Singapore MAS Deputy Chairman Chee Hong Tat on Singapore Equities Market (3/2/26): 1) SGX average daily traded securities value increased more than +20% YoY to S$1.8 billion in 2025 November, 2) 100 Singapore-listed stocks with at least S$1 million average daily trading volume, 3) S$2.4 billion total IPO funds raised in 2025, 4) Total market value of SGX-listed companies crossed S$1 trillion, 5) Straits Times Index +28% returns in 2025 & more than +100% in last 5 years, 6) Equities Market Review Group engaged widely in last 18 months with 3 guiding principles (Implementation, Innovation policy requires calculated risks, Improving competitiveness is never-ending journey), 7) S$3.95 billion allocated to 9 asset managers under Equity Market Development Programme (EQDP), 8) Shift towards disclosure-based regime, 9) Value Unlock Program, 10) SGX-Nasdaq Global Listing Board to enable single prospectus for listing on both SGX & Nasdaq. In 2025 February, Singapore MAS Equities Market Review Group announced 11 new measures: 1) $3.7 billion (S$5 billion) Equity Market Development Program to invest in fund managers with a focus on Singapore stocks, 2) Tax exemption on fund manager qualifying income investing substantially in Singapore-listed equities, 3) Global Investor Program (GIP) qualifying investment categories for listed equities will be adjusted to Singapore-listed equities, 4) Expand MAS research development Grant for Equity Market Singapore (GEMs) on mid & small-cap enterprises and to broaden research dissemination including new media channels, 5) 20% corporate income tax rebate for new primary listing & 10% tax rebate for new secondary listings with share issuance, 6) 5% concessionary tax rate on qualifying income for new fund manager listings in Singapore, 7) New investment schemes to develop Singapore local enterprises for potential listings (IPO), 8) Consolidate into 1 regulator for listing suitability & prospectus disclosures review functions in SGX RegCo, 9) Streamline SGX RegCo qualitative admission criteria by focusing on sufficient material issues disclosure instead of risks mitigation, 10) Streamline prospectus requirements & listing processes with 6 to 8 weeks timeline for listing review process, 11) Targeted approach to post-listing queries, alerts & trading suspensions and propose to remove Financial Watch List. Monetary Authority of Singapore (21/2/25): “The Equities Market Review Group has announced its first set of measures to strengthen the competitiveness of Singapore’s equities market. This includes the three tax incentives announced by the Prime Minister and Minister of Finance at Budget 2025 on 18 February 2025.”
“ Singapore MAS Equities Market Review Group Final Report on 18 Measures to Strengthen Singapore Equities Market: 1) S$6.5 Billion Equity Market Development Program Allocation to Asset Managers, 2) Global Investor Program (GIP) Single Family Offices Must Deploy S$50 Million into Singapore-Listed Equities, 3) Enhanced Grant for GEMS Research Development, 4) Tax Incentives for Fund Managers (Invests 30% in Singapore Equities, Existing Funds with 5% Net Inflow Yearly), 5) Enterprise Financing Support to Strengthen Growth of Companies, 6) Listing Corporate Income Tax (CIT) Rebate, 7) Concessionary Tax (CTR) Rebate for New Fund Managers Listing, 8) SGX-Nasdaq Dual Listing Bridge, 9) Expansion of GEMS Listing Grant to Include Depository Receipts, Cross-Listed & Feeder Funds, 10) Incentives to Enhance Market-Making Ecosystem for Singapore Equities to Lower Execution Costs, 11) Modernisation of Post-Trade Custody Model to Facilitate Wider Adoption of Broker Custody Accounts, 12) Reduce Board Lot Size for Securities Priced Above S$10, 13) Enhancement of Investor Recourse Avenues Against Market Misconduct, 14) “Value Unlock” Program to Help Listed Companies on Shareholder Engagement & Value Creation, 15) Consolidate Listing Review Functions into SGX RegCo, 16) Streamline SGX RegCo Qualitative Admission Criteria, 17) Streamline Prospectus Requirements & Listing Processes and 18) Targeted Approach to Post-Listing Queries, Alerts & Trading Suspensions “
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Singapore MAS Equities Market Review Group Final Report on 18 Measures to Strengthen Singapore Equities Market: 1) S$6.5 Billion Equity Market Development Program Allocation to Asset Managers, 2) Global Investor Program (GIP) Single Family Offices Must Deploy S$50 Million into Singapore-Listed Equities, 3) Enhanced Grant for GEMS Research Development, 4) Tax Incentives for Fund Managers (Invests 30% in Singapore Equities, Existing Funds with 5% Net Inflow Yearly), 5) Enterprise Financing Support to Strengthen Growth of Companies, 6) Listing Corporate Income Tax (CIT) Rebate, 7) Concessionary Tax (CTR) Rebate for New Fund Managers Listing, 8) SGX-Nasdaq Dual Listing Bridge, 9) Expansion of GEMS Listing Grant to Include Depository Receipts, Cross-Listed & Feeder Funds, 10) Incentives to Enhance Market-Making Ecosystem for Singapore Equities to Lower Execution Costs, 11) Modernisation of Post-Trade Custody Model to Facilitate Wider Adoption of Broker Custody Accounts, 12) Reduce Board Lot Size for Securities Priced Above S$10, 13) Enhancement of Investor Recourse Avenues Against Market Misconduct, 14) “Value Unlock” Program to Help Listed Companies on Shareholder Engagement & Value Creation, 15) Consolidate Listing Review Functions into SGX RegCo, 16) Streamline SGX RegCo Qualitative Admission Criteria, 17) Streamline Prospectus Requirements & Listing Processes and 18) Targeted Approach to Post-Listing Queries, Alerts & Trading Suspensions
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