Phillip Securities launches Singapore Depository Receipts programme for IDX-listed shares

SGX Filings

Aug 12

Phillip Securities Pte Ltd announced on Aug, 12 2026 that it has established an unsponsored Singapore Depository Receipts (SDR) programme covering companies listed on the Indonesia Stock Exchange (IDX).

Under the deed poll dated Oct, 16 2025, the Depository may issue SDRs from time to time in reliance on the Securities and Futures (Offers of Investments) (Exemption for Depository Receipts) Regulations 2023. Each SDR will represent a specified number of underlying IDX-listed shares held with PT Phillip Sekuritas Indonesia as custodian and will be registered in the name of The Central Depository (Pte) Limited.

Phillip Securities will apply to Singapore Exchange Securities Trading Limited for quotation of the SDRs. Trading, clearing and settlement will be conducted on SGX-ST in Singapore dollars, with investors having no direct interaction with the IDX or overseas brokers. The programme’s documentation highlights that investing in SDRs involves market, currency and liquidity risks and that investors will not have voting rights over the underlying shares.

The Depository has set issuance and cancellation fees of up to SGD5 per 1,000 SDRs (subject to minimum and maximum charges) and up to 0.105% and 0.1% of transaction value for issuance and cancellation in Indonesia respectively, among other charges. Potential investors are advised to review the full terms, fees and risk factors before participating in the SDR offering.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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