Singapore Exchange Limited (SGX) on April 18 announced the official of its Beijing representative office, which helps to attract more China listing and increase the profile of SGX.
Having a physical presence in the country will help to meet the goal of enhancing the ability to meet the funding needs of Chinese companies. The Chairman of SGX, Mr J Y Pillay, believes that this representative office will contribute to the continued strengthening of ties between SGX and the regulatory authorities as well as the business community in China, leading to reciprocal benefit.
The new representative office is located in the Excel Centre, in Beijing's financial district. The new office is headed by Mr Lloyd Loh, who has been the point man for the SGX's business in China since 2006. His objectives as the chief representative will be to gain a better understanding of Chinese investors' needs, such as those of QDII funds, and to deepen the SGX's appreciation of the Chinese capital market and fund-raising needs of Chinese enterprises. For more details of the new office, please visit the SGX website (www.sgx.com).
The market of PRC is today one of the world’s most important markets for all countries, and it will continue to provide listing opportunities. The China Securities Regulatory Commission ruled in July last year to allow overseas exchanges to set up representative offices in China, but the SGX has been actively marketing itself to Chinese companies since the early 1990s. Many Chinese companies expanding beyond their domestic market have chosen Singapore as their springboard to the region by listing on the Singapore exchange. As of 31 March 2008, SGX has a total of 141 China companies which represent 13 per cent of the total number of the exchange listed with a total market capitalisation of S$45.1 billion. The list includes Yanlord Land Group, a developer of high-end residential properties in China, and CapitaRetail China Trust, the world’s largest China real estate investment trust.
Written by
Ms Eng Hui Ting & Ms Chen Shu
Ms Eng Hui Ting
Corporate Finance Executive
Ph: (65) 6322-2237
Fax: (65) 6534-0833
and
Ms Chen Shu
Legal Executive, Corporate Practice
Ph: (65) 6322-2230
Fax: (65) 6534-0833
Loo & Partners
88 Amoy Street, Level Three
Singapore 069907