Initial MAS review group incentives could pull in regional biotech, fintech players: observers

MARKET watchers believe tax incentives proposed by the Monetary Authority of Singapore’s (MAS) equities market review group will appeal to regional companies across a wide range of industries, including biotech, fintech and renewable energy.

“Sectors that rely on long-term capital, high-growth equity, and sustained liquidity post-listing stand to benefit the most,” said Kelvin Lee, co-founder and CEO of investment platform Alta.

High-growth companies in the technology, healthcare and sustainability-linked industries are potential entrants as well. These firms often require long-term capital and investor confidence – qualities that Singapore’s financial ecosystem can provide, Ooi Chee Keong, Forvis Mazars Singapore partner and capital markets head, told The Business Times.

In addition, these companies could have outgrown early-stage funding but are not yet large enough for major exchanges such as Nasdaq or the Hong Kong Stock Exchange. 

They also often struggle to list in their home markets due to issues such as regulatory uncertainty, currency volatility and limited investor confidence.