A glimmer of hope despite local market's problems
The dearth of mainboard initial public offerings (IPOs) on the Singapore Exchange (SGX) continues to be a source of hand-wringing, along with the potential delistings of notable names.
While part of the problem is a cyclical downturn, some perennial issues remain bugbears. The first issue is that there are simply not that many quality companies eligible or interested to list on SGX, especially in a regional downturn caused by a structurally slowing China.
An IPO should be a source of pride, the culmination of the blood, sweat and tears of entrepreneurs who have laboured long to grow a firm that they believed in, to a stage where it needs public capital to pursue new frontiers. But companies in a number of industries are struggling with excess capacity. There are not that many promising investment opportunities for an entrepreneur to take advantage of.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand
Pfizer lifts 2024 profit view on cost cuts, higher Covid vaccine demand
Shell exits China power market businesses