BT Mark to Market: Reviving Singapore’s stock market

The MAS review group has rolled out its first set of measures, and the STI is hitting new all-time highs. Ben Paul explains why many investors are still sceptical.

Listen.16:25
Published Tue, Mar 4, 2025 · 05:00 AM

There has been a lot of discussion about the Singapore stock market recently and the steps taken to strengthen its appeal to investors.

In the latest episode of Mark to Market, a podcast by The Business Times, hosted by Ben Paul, he dives into what has been proposed and implemented and provides his analysis of current outcomes.

In-depth look at policy changes

Paul expands on the recent measures announced by the Monetary Authority of Singapore (MAS) to revive the Singapore market and highlights companies within the STI that have delivered significant shareholder value through strategic investments, increased dividends, or share buybacks. This focus equips listeners with the knowledge to identify promising investment opportunities. 

Paul also looks at the MAS review group’s measures to tackle everything broken in the Singapore market system, from listing processes and tax rebates to enhanced investor participation and regulatory reforms. 

Challenges and skepticism

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Paul highlights measures such as streamlining the listing process, providing corporate tax rebates and the Equity Market Development Programme (EQDP) - taking a critical look at these measures and their potential effectiveness. 

He notes that despite the positive steps, there is scepticism about whether these measures will succeed. The podcast delves into these concerns, addressing the strong performance of the US market, the surge in private equity capital and conflicting views on corporate governance standards in Singapore. 

Future prospects

Paul states that he is optimistic about the holistic efforts to fix the Singapore market, mentioning various studies and potential initiatives that are still in the pipeline. These include better enabling investors to seek recourse for market misconduct and modernising market infrastructure. 

Listen now to the latest episode of Mark To Market and hear Paul’s candid analysis of the strides being made and his analysis of how investors have responded to these measures. 

Mark to Market is a podcast of BT Correspondents. Look out for the next episode - WealthBT - featuring wealth editor, Genevieve Cua. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.

Written and hosted by: Ben Paul (benpaul@sph.com.sg)

Edited by: Howie Lim & Claressa Monteiro

Produced by: Ben Paul, Howie Lim & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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BT Correspondents brings together some of The Business Times’ most trusted columnists in a single series. Featuring Mark to Market, WealthBT, TransportBT, and PropertyBT, weekly episodes deliver expert analysis and clear perspectives on stocks, wealth, mobility, and real estate. It is essential listening for professionals who want context, clarity, and depth.