Equity crowdfunding: Singapore takes it slow

[SINGAPORE] Singapore isn't rushing to become the regional equity crowdfunding (ECF) hub, preferring instead to watch and learn from first-movers. And a convenient example is just across the Causeway, as Malaysia is well on its way to be the first to legislate ECF in South-east Asia.

When contacted, a Monetary Authority of Singapore (MAS) spokeswoman told The Business Times: "MAS notes that crowdfunding is emerging in some countries as an alternative source of financing for startups and small companies . . . and is closely monitoring developments in other jurisdictions and working with Spring to develop an appropriate regulatory framework."

Meanwhile, homegrown crowdfunding platform Crowdonomic.com - poised to become one of the first to offer ECF in the region - has pledged to be a strategic partner of regulators here to facilitate this alternative source of financing.