Developing the Singapore bond market

Citibank managing director Lui Chong Chee talks about the rapid development of Singapore''s domestic debt markets.

 

Q Singapore's domestic bond markets have come a long way in the last couple of years.

A They certainly have. But actually, the market goes back as far as the late 1980's, although then it was very much a start and stop affair. What really drove it forwards was the property boom of the early to mid 1990's. Unlike Hong Kong where bank lenders have always been very aggressive, property companies here were forced into the wider capital markets and it was a great opportunity to lay the foundations of a domestic bond market.

Then obviously the Asian crisis hit and this is when the government stepped in. Compared to...

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