SGX inks MOI with IMDA to create a pathway for IMDA-accredited companies to access capital markets more efficiently for expansion

Last updated: 27 May 2019

Published on: 31 May 2017

Singapore Exchange (SGX) and Infocomm Media Development Authority (IMDA) today signed a memorandum of intent (MOI) to create a streamlined pathway for fast growing IMDA-accredited companies to leverage private and public capital markets in Singapore more efficiently for expansion.

SINGAPORE - 31 May, 2017: Singapore Exchange (SGX) and Infocomm Media Development Authority (IMDA) today signed a memorandum of intent (MOI) to create a streamlined pathway for fast growing IMDA-accredited companies to leverage private and public capital markets in Singapore more efficiently for expansion. Through this MOI, both parties aim to lower the access barriers for technology companies into the capital markets, catalyse more high tech IPOs and increase Singapore’s attractiveness as a venue for capital raising. The signing was witnessed by Dr Yaacob Ibrahim, Minister for Communications and Information. 

Accreditation@IMDA (A@IMDA) programme curates and nurtures a growing portfolio of promising, innovative tech companies for high growth. Under the MOI, SGX will partner with A@IMDA to identify and galvanize key parties in the financial ecosystem to support the IMDA-accredited companies in their IPO journey, including facilitating pre-IPO funding, advising them on listing processes and preparing them for IPO listing.

A@IMDA will collaborate with SGX, IPO sponsors, law and audit firms to help lower the information barriers and costs for IMDA-accredited companies in the processes leading to IPO listing. The intention is to better prepare the accredited companies for listing by embedding some of the steps required to become IPO-ready into A@IMDA’s existing accreditation processes. IMDA-accredited companies will thus benefit from more streamlined processes when seeking to raise capital.

In addition, SGX and A@IMDA will foster closer ties and information sharing between the financial and technology communities to enable technology companies and the ecosystem they are in to be better understood and appreciated, and consequently be taken into consideration by investors when valuing such technology companies. These efforts aim to deepen the financial community’s understanding of the technology outlook, potential use cases and business models of these technology companies, and the industries in which they operate. 

“Today’s collaboration between IMDA and SGX will provide high-growth Infocomm Media (ICM) companies access to capital markets, allowing them to leverage Singapore’s well-developed financial ecosystem to support their growth and expansion plans. I encourage ICM companies with innovative products and services to set up their base of operations in Singapore so that they can take full advantage of these programmes and platforms,” said Dr Yaacob Ibrahim, Minister for Communications and Information.

Loh Boon Chye, Chief Executive Officer of SGX, said, “Our collaboration with IMDA will foster a keener appreciation among Singapore technology firms of our capital markets as a source of funding, and offer them the potential of expanding their business into the broader region. We hope to galvanise more partners in the financial ecosystem to engage with these fast growing, innovative companies.” 

Tan Kiat How, Chief Executive at IMDA, said, “There are immense opportunities in the coming years for Singapore-based ICM companies as economies in the region transform and digitalise. The partnership between SGX and IMDA is an important step in deepening the collaboration between the technology and financial ecosystems, and enables both groups to benefit from this rapid growth. It also enables promising ICM companies to tap Singapore’s capital markets to scale up to the next phase of their growth.”


Related Resources

Annex A: SGX and A@IMDA MOI Factsheet (347.13KB)


JOINTLY ISSUED BY SINGAPORE EXCHANGE AND THE INFOCOMM MEDIA DEVELOPMENT AUTHORITY
About Singapore Exchange (SGX)
Singapore Exchange is Asia’s leading and trusted market infrastructure, operating equity, fixed income and derivatives markets to the highest regulatory standards. As Asia’s most international, multi-asset exchange, SGX provides listing, trading, clearing, settlement, depository and data services, with about 40% of listed companies and 75% of listed bonds originating outside of Singapore.

SGX is the world’s most liquid offshore market for the benchmark equity indices of China, India, Japan and ASEAN and offers commodities and currency derivatives products. Headquartered in AAA-rated Singapore, SGX is globally recognised for its risk management and clearing capabilities. For more information, please visit www.sgx.com.

About Infocomm Media Development Authority
The Infocomm Media Development Authority (IMDA) will develop a vibrant, world-class infocomm media sector that drives the economy, connects people, bonds communities and powers Singapore's Smart Nation vision. IMDA does this by developing talent, strengthening business capabilities, and enhancing Singapore's ICT and media infrastructure. IMDA also regulates the telecommunications and media sectors to safeguard consumer interests while fostering a pro-business environment. IMDA also enhances Singapore’s data protection regime through the Personal Data Protection Commission. For more news and information, visit www.imda.gov.sg or follow IMDA on Facebook IMDAsg and Twitter @IMDAsg.

About Accreditation@IMDA
As a key contributor to the Digital Economy strategy, Accreditation@IMDA (A@IMDA) has a vital role in developing a strong Infocomm Media (ICM) ecosystem through growing and nurturing young and promising Singapore-based ICM companies to scale. 

Launched in July 2014, A@IMDA seeks to provide promising Singapore-based tech product companies with resources and investment to help them build a track record locally, grow and compete on the global market. Being accredited, ICM companies are enabled greater visibility and more opportunities for their products and solutions to be actively showcased on various engagement platforms, and eventually bought. Partnerships forged with leading enterprises will also allow new opportunities to be generated for accredited companies and increase their business traction in international markets. For enterprises and Government buyers, the accreditation process provides an independent third party evaluation of the companies’ claimed product core functionalities and ability to deliver. 

The programme has received positive feedback from industry participants that the technical and financial findings, and advice received during the accreditation evaluation were invaluable to young companies. As of end May 2017, the programme has accredited 17 companies in areas like video and data analytics, robotics and energy management.

For more information, visit: https://www.imda.gov.sg/industry-development/programmes-and-grants/startups/accreditation-at-imda.


Media Contacts:

HO Lily (Ms)
Marketing & Communications, Singapore Exchange
DID: (65) 67136786
Email: lily.ho@sgx.com

AUNG Thi Ha (Mr)
Assistant Manager, Industry & Marketing Communications, IMDA
DID: (65) 6211 1309
Email: aung_thi_ha@imda.gov.sg