S'pore eyes more shipping sector capital issues on SGX

SINGAPORE is looking to attract more shipping companies into the local capital markets even as Norway and the US continue to lure the bulk of IPOs and bond issues from the sector.

The Maritime and Port Authority (MPA) of Singapore assistant chief executive (Development) Tan Beng Tee yesterday acknowledged that such a deficit exists and that work is being done to narrow this gap.

"Indeed, the listing in Singapore for shipping companies is a bit slow. From MPA, we are working with the SGX (Singapore Exchange) and the industry, to see what more we can do to profile the exchange (SGX) as a good place for companies which would like to list."