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SINGAPORE: The Singapore Exchange is moving to further promote research coverage on companies listed on the local bourse.
SGX has extended its Research Incentive Scheme for another two years, along with two sweeteners.
Starting this month, newly listed or existing companies can join the scheme every quarter, compared to the start of a two-year period previously.
In addition, SGX will double its subsidy for companies that join the scheme from S$1,000 to S$2,000 per listed company per annum.
With this subsidy, each participating listed firm will pay an annual amount of S$13,000 for two research firms to cover it under the scheme.
The participating research firms will each receive an amount of S$7,500 for every company covered.
SGX said the amount paid to the research firms takes into account the rise in the cost of providing quality research, which reflects the significant value placed on independent equity research in today's financial markets.
Each research firm will have to produce at least three reports every year for each company. In the first year of coverage, the first report must be out within six months.
Under the scheme, two research firms will be assigned to provide research coverage on each participating company for a period of two years. Currently, 93 listed companies and 7 research firms have joined the scheme.
- CNA/so
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