[Pre-Singapore Budget 2025] Insights by our industry experts

In the effort to strengthen Singapore's equities market development, experts shared that although potential tax perks rolled out by the MAS review group would undoubtedly facilitate listings, it is not a silver bullet and must be paired with other strategic initiatives.

Featured in a recent Business Times article on 17 February 2025, our Managing Partner & Head of Audit & Assurance APAC, Rick Chan, as well as Partner and Head of Capital Markets, Ooi Chee Keong jointly shared their expert perspectives of the impact of potential tax perks on the current IPO environment.

Shedding light on the impact of these SGX incentives, Chee Keong believed that these incentives are about accelerating business growth in the short-term to encourage companies to go public, while single family office incentives are designed to attract ultra-high-net-worth individuals for wealth management over a longer term — both with different distinct purposes essential in fuelling the market.

Additionally, touching base on the direction of these tax perks, Rick said, "Tax incentives could be selective on industries that the SGX would like to promote based on the profile and appetite of institutional investors in Singapore."

It is inherent that tax incentives should be paired with other strategic initiatives to maintain a robust market as market watchers anticipate the introduction of various measures by the MAS review group in the coming days. 

Read the full article on The Business Times.

Will the new set of incentives by the Monetary Authority of Singapore (MAS) review group provide an adequate start in appealing to potential entrants? 

Market watchers believe that tax incentives proposed by the MAS equities market review group could potentially attract high-growth companies across a wide range of industries including technology, healthcare and sustainability. 

Speaking to the Business Times on the impact of these incentives on potential entrants in an article published on 14 February 2025, our Partner and Head of Capital Markets, Ooi Chee Keong, shared that these firms often require long-term capital and investor confidence and often struggle to list in their home markets due to issues including regulatory uncertainty, currency volatility and limited investor confidence.  

"Singapore's ecosystem can provide a compelling launch pad for companies looking to scale beyond their domestic markets, given that it offers stability, credibility and access to global institutional investors," he noted. 

Read the full article on The Business Times.