Aided and abetted by the Monetary Authority of Singapore MAS, Singapore's domestic debt capital market has witnessed incredible growth. In the last five years and particularly the last three, there has been a tenfold increase in corporate issuance, rising from S$5.1 billion $2.81 billion in 1995 to S$50.5 billion in 2000.
Certainly as far as far as primary issuance goes, this trend looks set to continue. Participants at the OCBC and JP Morgan-sponsored conference say that there will not only be an increasing diversity of issuers on the domestic side, but also growth in issuance from high quality foreign borrowers looking to take advantage of Singapores low interest rates....
