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1 Listing on the Singapore Exchange Singapore Exchange 27 May 2008 Tel Aviv, Israel.

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Presentation on theme: "1 Listing on the Singapore Exchange Singapore Exchange 27 May 2008 Tel Aviv, Israel."— Presentation transcript:

1 1 Listing on the Singapore Exchange Singapore Exchange 27 May 2008 Tel Aviv, Israel

2 2 Agenda 1.Overview Of Singapore Exchange 2.SGX’s Securities Market Platforms 3.Catalist - Our Latest Offering

3 3 Overview Of Singapore Exchange

4 4 Annual Trading Volume (bn units) Straits Times Index (STI) …. strong long term growth Market Performance

5 No. of Listed Companies – 760 Market Capitalisation - US$508 bn US$172 bn US$336 bn …. sizeable segment of foreign companies An International Exchange Note: Figures above exclude 18 foreign companies which are secondary listed with secondary trading on SGX and 9 GDRs updated as at end-April 2008

6 6 …. spans across the whole spectrum of industries Established Market Note: Figures above exclude 18 foreign companies which are secondary listed with inactive trading and 9 GDRs on SGX as at end-April 2008

7 7 … wide range of industries Breakdown by Market Capitalisation Breakdown by Number Diversity of Foreign Companies Note: Figures above exclude 18 foreign companies which are secondary listed with secondary trading on SGX and 9 GDRs updated as at end-April 2008

8 8 Country of Origin … different geographical regions Note: Figures above exclude 18 foreign companies which are secondary listed with inactive trading and 9 GDRs on SGX as at end-April 2008 Diversity of Foreign Companies

9 9 Sarin Technology Sarin Technology Ltd is involved in the development, manufacture and sale of precision technology products that use three- dimensional geometric measurement (metrology) for the processing of diamonds and gems. Listed on SGX Mainboard on 8 April 2005 Issue Manager United Overseas Bank Recent Announcement Record quarterly revenues of US$10.6M in Q1,2008 & acquisition of Galatea 14.4m 0.1m

10 10 …. ranges from mid to large size OriginSector Market Cap (US$ bn) Company Jardine (6 companies) Hong Kong Conglomerate46.5 Cosco Corporation PRC Shipping5.2 Yanlord PRC Property 3.1 Total Access Communications ThailandTelecommunications 2.6 Noble Group Hong Kong Trading4.4 TPV Technology Taiwan Electronics1.0 PT Berlian Laju Tankers Indonesia Shipping1.0 Thai Beverage Thailand Food & Beverage 5.1 Wilmar Malaysia Palm Oil21.6 Some of Our Foreign Listings

11 11 Foreign companies are well-received by investors here Growth of Our Foreign Listings …. outpacing growth of domestic listings Note: * Includes 3 Reverse Takeovers ** Includes 4 Reverse Takeovers, but excludes 7 GDRs ***Includes 3 Reverse Takeover but exclude 2 GDR * **

12 12 Note: Statistical information updated as at end April 2008 …. well-monitored by investors Liquidity of Foreign Companies

13 13 IPO Funds Raised US$ mn 2, ,0931,074 2,148 3,915 5,310 …. growing significantly 5,701* Notes: * Includes funds raised by Reverse Takeovers Statistical information updated as at end April

14 14 Active Secondary Fund Raising …. continual funding for growth Note: Statistical information updated as at end April 2008

15 15 Diversified Product Range  Equities / Equity options  Global Depository Receipts  Real Estate Investment Trusts (REITs)  Business Trusts  Investment Funds / Exchange Traded Funds (ETFs)  Bonds /Debentures …. to suit each funding and investment need

16 16 Post-IPO Support  Facilitate regular interaction with analysts  Monthly sessions  Profile to institutional investors  Overseas roadshows (eg. Japan, Europe, U.S.A.)  Investor Relations Professionals Association Singapore (IRPAS)  Promotes IR best practices in Singapore with over 160 members  Ensure research coverage  Pioneering an exchange-subsidized research scheme  Each listed company covered by 2 research firms  Downloadable research reports on SGX’s website (50,000 average monthly downloads by 35,000 users) …. extending beyond the initial listing stage

17 17 SGX’s Securities Market Platforms

18 18 SGX’s Securities Market Platforms Exchange MAINBOARD Sponsors CATALIST IPO Review & Post-IPO Supervision Established CompaniesFast-Growing Companies Target Companies Established branding Access to a wider range of institutional investors More product types Faster time to market Easier corporate actions Key Benefits Exchange-regulated & supervised Exchange-regulated, Sponsor-supervised Regulatory Approach

19 19 Mainboard Listing Requirements …. 3 alternative routes Pre-Tax Profit Alternative 1 Alternative 3 Alternative 2 S$7.5M over 3 yrs; At least S$1M each yr S$10M in 1 or 2 yrsNil Market Cap Nil S$80M Public Float Companies with market cap S$300M – 12-25% public float At least 1000 shareholders Others - Accounting Standards: US GAAP / IFRS / Singapore-FRS - Choice of reporting currency – USD, HKD etc - Choice of domicile - Independent directors

20 20 Catalist - Our Latest Offering

21 21 Catalist - Transformed From SESDAQ 2.SGX does not directly supervise companies, but retains power to discipline & ultimate accountability. 1.Supervision of companies to be undertaken by approved Sponsors. 3.Sponsors are accountable: Regulation by Exchange Market reputation at stake Commercial obligations to issuers Legal/professional liabilities (SFA/R)

22 22 Full Sponsors (in alphabetical order)

23 23 8 – 12 weeks3 weeks1 – 2 weeks SGX Review Public Exposure on MAS Website Registration & Launch Trading Commences Preparation to apply Mainboard process ≈ 12 – 18 weeks Key Advantage: Shorter Listing Process Notification to SGX Public Exposure on Catalist Website Lodgment & Launch Trading Commences 2 weeks 1 – 2 weeks Catalist process ≈ 5 – 6 weeks Preparation to apply months

24 24 Key Advantage: Easier Corporate Actions Annual Mandate to Issue New Shares  Non pro-rata: 20%  Pro-rata: 50%  Non pro-rata: 50% to 100%*  Pro-rata: 100% Shareholder Approval for Acquisitions & Disposals  Thresholds at 20% of various criteria  Acquisition threshold at 75% or fundamental change in business  Disposal threshold at 50% or fundamental change in business MAINBOARD Catalist Note: Criteria are based on net asset value; net profits attributable; aggregate value compared with market cap; no. of equity securities issued. * 50% limit by ordinary resolution; 100% limit by special resolution

25 25 Companies’ Admission Requirements 1.Sponsor to assess suitability to list No quantitative entry criteria set by SGX – Sponsors will use their own in-house deal selection criteria 2.Offer Document with 12-month working cap statement No review by SGX Same disclosure/liability as prospectus Lodged on Catalodge website This is a summary only, details of the requirements are in the rules. *“Promoters” are controlling shareholders & their associates and executive directors with  5% of share cap at time of listing. If they hold more than 50% at IPO, they may sell but must retain 50%. If they hold less than 50% at IPO, they may not sell any. After IPO, promoter and pre-IPO investors are subject to moratorium periods. 3.Restrictions to secure commitment of promoters* & pre-IPO investors 4.2 Independent Directors 1 resident for foreign companies 5.Shareholding spread of 15%, 200 shareholders

26 26 Companies’ Continuing Requirements 1.Continual sponsorship at all times* No review of circulars by SGX 2.Higher mandate for new issuance 3.Higher thresholds for major transactions 4.Corporate governance guidelines (comply or explain) 5.Disclosure of material information 6.Half-yearly/quarterly reporting 7.Interested Persons Transactions 8.Shareholder spread of 10% This is a summary only, details of the requirements are in the rules. * Full Sponsor that brings an IPO to market must continually sponsor the company for at least 3 years after IPO.

27 27 Transfers Between Boards MAINBOARD Exchange- Supervised Sponsor- Supervised Apply for transfer Meet entry criteria (profit) Be listed for 2 years Meet spread & shareholder requirement With offer: OIS (on OPERA) Without offer: Shareholder circular Undergo review by SGX Shareholder approval (special reso) Apply for transfer Must not be a Mainboard watchlist company Find Sponsor (decides suitability) Meet spread & shareholder requiremt Shareholder approval (special reso) No offer at point of transfer

28 28 Exchange Fees MAINBOARD Catalist Initial Fee MinimumS$50,000S$30,000 MaximumS$200,000S$100,000 Variable Rate*S$100 / mil Annual Fee MinimumS$25,000S$15,000 MaximumS$100,000S$50,000 Variable Rate*S$25 / mil Note: Other listings expenses include professional fees for Sponsors, lawyers and auditors. For more information, please consult a Sponsor. * Fees are based on market cap of the listed company. For example:- For company with market cap of S$100M, initial fees = S$30,000 For company with market cap of S$500M, initial fees = S$50,000

29 29 For more information, please visit & Contact: Tel: Melissa Tan (T: ) Lily Chia (T: ) Thank You While care has been taken to ensure the accuracy of the information in this document, SGX and its affiliates make no warranty as to the accuracy, completeness, merchantability or fitness for any purpose, of the information contained in this document or as to the results obtained by any person from the use of any information or investment product mentioned in this document. SGX reserves the right to make changes to such information from time to time. Any change, omission or error in such information, shall not form the basis for any claim, demand or cause of action against SGX or any of its affiliates and SGX and its affiliates expressly disclaim liability for the same.


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