SINGAPORE, AUG 28: Bend the rules of the game if you have to do business. This is the mantra being followed here by the authorities. The Singapore Exchange (SGX) has recently relaxed its listing norms for Indian companies in a bid to lure them.

Singapore, which has limited resources, has set its eyes on India and China to boost volumes at its own exchange. The Indian companies now do not require to abide by the SGX listing norms as they are similar to Securities and Exchange Board of India (Sebi) requirements.

Currently, there are only two Indian companies, Asian Paints and Meghmani Organics, listed on the SGX. On the other hand, 105 Chinese companies are already listed on the SGX.

As per Sebi guidelines, Indian companies, which are listed on either National Stock Exchange or Bombay Stock Exchange can trade on other exchanges. This in turn pushes costs for listing for the Indian stock exchanges. "Indian companies therefore refrain from listing at other exchanges due to high costs," Tan Suan Hui, assistant vice president, Listings, Markets Group, SGX said.

Hui pointed out that the number of Indian companies is likely to increase on the SGX with the relaxation in norms.
It is also learnt that a few companies have also approached the SGX to explore the possibility of listing at the SGX. Indian companies can benefit by listing on the SGX as it offers a higher price per earning ratio than Indian bourses.
SGX's total asset under management is estimated at $500 billion with 700 companies, of which 33% is foreign companies. The total market capitalisation is around $300 billion, 28% being with foreign companies. According to SGX, there are 60% of institutional investors.

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