Closer alignment of interests between independent directors and minorities key to driving ‘Next 50’ stocks higher
Efforts by MAS to help companies boost shareholder value should be supplemented with moves to incentivise IDs to play a more active role at their companies
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[SINGAPORE] The national effort to enliven the local market is taking an interesting step forward this week with the launch of the iEdge Singapore Next 50 Indices.
On the face of it, there seems little reason to doubt that these new indices will be warmly received by investors. Many of their constituents – including ComfortDelgro, iFast, Frencken, Food Empire, Sheng Siong, Nanofilm Technologies and Propnex – are already being promoted by brokerage firms as likely beneficiaries of the S$5 billion Equity Market Development Programme (EQDP) that the Monetary Authority of Singapore (MAS) is in the process of rolling out.
Furthermore, the 16 property trusts within the new indices – such as CapitaLand Ascott Trust, Keppel Reit, Parkway Life Reit, and the recently listed NTT DC Reit – have been riding the tailwind of easing interest rates.
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