Offerings of equity securities or plain debt securities will undergo a streamlined vetting process, according to a joint statement by the Singapore Exchange Ltd (SGX) and the Monetary Authority of Singapore (MAS) on March 3.
This is a key point of a MoU signed by security market authorities from Singapore, Malaysia and Thailand to enable cross-border capital flow, part of a drive to develop economic connections within the Association of Southeast Asian Nations (ASEAN).
Lee Boon Ngiap, Assistant Managing Director of Capital Markets at MAS, said regional issuers will benefit from the streamlined process that facilitates easier flow of capital across the ASEAN member states.
Both the investing and investee authorities will have to complete the review process at the same time, within three to four months from the date of submission, and the prospectus for an offering should be issued in accordance with ASEAN disclosure standards.
The joint statement also noted that the first three countries’ signing of the agreement will lay the foundation for security regulators in other member states to participate in.-VNA
This is a key point of a MoU signed by security market authorities from Singapore, Malaysia and Thailand to enable cross-border capital flow, part of a drive to develop economic connections within the Association of Southeast Asian Nations (ASEAN).
Lee Boon Ngiap, Assistant Managing Director of Capital Markets at MAS, said regional issuers will benefit from the streamlined process that facilitates easier flow of capital across the ASEAN member states.
Both the investing and investee authorities will have to complete the review process at the same time, within three to four months from the date of submission, and the prospectus for an offering should be issued in accordance with ASEAN disclosure standards.
The joint statement also noted that the first three countries’ signing of the agreement will lay the foundation for security regulators in other member states to participate in.-VNA
