July 01, 2019 | Cbonds
|We are pleased to announce that Cbonds is expanding the coverage of international markets. Domestic corporate bonds of Singapore have been added to the database. 660 issues of the Singapore domestic corporate bonds are available at Cbonds website, with 394 issues outstanding. |
Bond Market Profile
The Singapore bond market is one of the most dynamic debt markets in Asia. According to MAS (Singapore's central bank and financial regulatory authority), the volume of the bond market increased by 39% in 2018. Such dynamics is mostly driven by rather liberal legislation of the country in the sphere of financial markets, as well as by the "Asian Bond Grant Scheme" initiated by the regulatory authority of Singapore in 2017. Subject to this program, companies registered in the ASEAN countries, as well as in China, India, South Korea, Japan, Australia and New Zealand, may, if the bonds are placed on the Singapore market, have 50% reimbursement of the issue-related expenses (these expenses include, for example, the listing, arranger, and audit fees).
The Singapore's bond market is dominated by the fixed coupon instruments (more than 83% of the total volume of bonds issued by the corporate sector), the increased popularity of which is promoted by the country's debt market performance based on low price level and stable interest rates. The majority of liabilities are presented in the national currency (more than 96% of the total volume of outstanding securities).
The main borrowers at the corporate bond market are government agencies (liabilities of issuers of this sector make more than 32% of the volume of this market segment). The most active market participants are Housing and Development Board and Land Transport Authority of Singapore.
As the global financial center shifts from the Atlantic to the Pacific, the importance of Singapore as one of Asia's and the world's largest financial hubs is growing. Some of the competitive advantages of the country's financial market include the absence of exchange controls and capital restrictions, as well as tax benefits granted to non-residents by the Singapore government. Despite the policy of the financial regulatory authority aimed at the stock market development, the huge competition from the other Asian tiger countries lead to the reduction in the number of issuers of the organized market and the IPO market shrinkage.
Singapore is the leader among the Asian countries by the level of GDP per capita, which exceeded USD 64 thousand in 2018. Since 2011, Singapore has not left the top ten countries of the world per this index and ranked 8th at the end of 2018. The relatively low and stable inflation rate, which reached 1.9% in December 2018, also contributes to the growth of the real level of well-being of citizens. According to the MAS forecasts, the price growth will not exceed 2.5% in 2019. According to the Ministry of Trade and Industry of Singapore, the country's economy grew by 3.2% by the end of 2018 and is expected to keep growing in 2019, but at a slower pace – within 1.5 - 2.5%. The growth slowdown is caused by the global economic recession and the consequent decline in global demand, as well as by tense trade relations between the USA and China, which, along with Malaysia, are among the top three importers of the Singapore goods.
Traditionally, daily quotes, bond calculator, basic parameters of placements, cash flow and issue documents are available for all the issues.
Please note that access to these data is included in the Cbonds-Premium tariff. Information is available in eight languages: Russian, English, Italian, German, Spanish, Polish, Chinese and Ukrainian.
To all participants of the primary bonds and Eurobonds market we suggest cooperation. On the quotes’ publication issue please contact us via email@example.com.
Company: Cbonds Group
|Full company name||Cbonds Ltd|
|Country of risk||Russia|
|Industry||Information and High Technologies|