More than 10 Singapore companies showed interest in applying for listing on Taiwan’s over-the-counter market upon conclusion of a conference held in Taipei July 27.
Gre Tai Securities Market and the Taipei Representative Office in Singapore co-sponsored the meeting aimed at recruiting more Singapore-based companies to list on the island’s stock exchange market.
The one-day event attracted nearly 100 representatives from some 40 Singaporean enterprises, including furniture manufacturer and retailer Scandic International Corp. and interior design company Redwood Interior Pte Ltd.
“The capital market in Taiwan is more vigorous than that in Singapore,” said Lim Pok Chin, founder and CEO of Scandic. “The recently-inked cross-strait Economic Cooperation Framework Agreement also boosted Singaporean investors’ confidence in investing in Taiwan.”
Peter Lee, general manager of Redwood, said, “We will be able to expand our business opportunities and markets in mainland China by listing in Taiwan’s OTC market.”
Gordon Shuh Chen, chairman of GTSM, said Taiwan’s investment environment holds great potential on the back of its favorable price-to-earnings ratios and high turnover rate.
“Individual investors have been the major players in Taiwan’s stock market, but the investments they make are relative stable and therefore contribute to active trading activities without wide stock price fluctuations,” he said.
Vanessa Yea-ping Shih, Taiwan’s representative to Singapore, said the tariff concessions and intellectual property protection Taiwan expects to gain through the ECFA give the state a competitive edge in becoming a gateway for overseas businesses to enter the mainland market.
According to Shih, more than 21 Singaporean enterprises have begun working towards being listed on the local bourse. Over the past year, three of the companies successfully issued Taiwan depositary receipts. One company is now listed, while the applications of two others are still being processed.
Those who expressed interest in the OTC market July 27 are expected to be listed as early as some time this year, she said. (AW-THN)