SINGAPORE, 30 May 2023 – Phillip Securities, a member of PhillipCapital, has become the first institution in Singapore to issue the SGX Singapore Depository Receipts (SDR) under the Thailand-Singapore DR Linkage.
Singapore Depository Receipts (SDR), the first exchange-level DR cooperation in Southeast Asia, are officially launched today. The collaborative effort between SGX Group and Phillip Securities enables investors to trade securities listed on other exchanges directly on SGX. As the issuer of the product, Phillip Securities will handle the issuance and cancellation of the SDR.
Under the Thailand-Singapore DR Linkage, the initial wave of SDR will be introduced for Thai-listed securities. Thailand, the second-largest economy in Southeast Asia, is projected by the Asian Development Bank to experience an annual GDP growth rate of 3 to 4 per cent in the coming years, making it an appealing investment destination. With the introduction of SDR, Singaporean investors will enjoy the convenience of accessing prominent Thai blue chip companies through local broker arrangements, home-market rules and regulations, and in the local currency.
According to SGX Group, the partnership will enhance collaboration in the ASEAN region. It is also a response to the increasing demand from market participants for a wider range of investment options.
Michael Syn, Senior Managing Director and Head of Equities, SGX Group, said: “Phillip Securities has been instrumental in our journey in developing the Singapore Depository Receipts. We value their strong presence in multiple markets, including Thailand and deep experience in serving investors globally. I’m positive their participation as an issuer will help the SDR gain traction in the market.”
Mr Luke Lim, Managing Director, Phillip Securities said: “We are honoured to be the first issuer for SGX Singapore Depository Receipts under the Thailand-Singapore DR Linkage. At PhillipCapital, we are fuelled by our desire to serve our investors better, and we recognise that today, investors have a wide range of investment choices as well as high expectations on potential trading opportunities. The new SDR offers Singapore investors new opportunities to invest in the Thai market.”
About Phillip Securities
A member of PhillipCapital, Phillip Securities Pte Ltd offers a comprehensive suite of financial products and services including broking in securities, futures, foreign exchange, bonds, precious metals and commodities, unit trusts, contracts for difference, exchange-traded funds; fund management, managed accounts, insurance planning, regular savings plan, investment research, equity financing and property consultancy. Institutions can also benefit from our corporate finance and advisory services as well as information technology solutions.
Since its inception as a stockbroker in 1975, PhillipCapital has grown into an integrated Asian financial house with a global presence and offers a full range of quality and innovative services to retail and high-net-worth individuals, family offices, as well as corporate and institutional customers. In 1996, Phillip Securities became the first retail broker to launch POEMS, an online trading platform and changed the way investors trade in Singapore.
Today, PhillipCapital headquartered in Singapore, operates in the financial hubs of 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), India, Indonesia, Japan, Malaysia, Singapore, Spain, Thailand, Turkey, UK, UAE, USA and Vietnam, serving over 1 million clients with Assets Under Management of total more than USD 35 Billion.
Find out more about us here https://www.phillip.com.sg/ and our award-winning trading platforms here https://www.poems.com.sg/.
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