SINGAPORE (Oct 30): Companies with a secondary listing in Singapore but are not listed in any jurisdiction classified as “developed” by FTSE and MSCI may soon be placed under greater regulatory scrutiny.

In a bid to better regulate companies with a secondary listing here, the Singapore Exchange may impose additional requirements on those whose home exchange is deemed “developing”, it said in a statement today.

FTSE and MSCI, leading global index providers, currently classify 23 jurisdictions – including the US, UK, Australia, Japan, Hong Kong and Singapore – as “developed”.

From Nov 3, SGX will treat companies from all other jurisdictions as “developing”.

“For a company from a developing jurisdiction, SGX will review its home exchange’s legal and regulatory requirements and may impose additional requirements to enhance shareholder protection and corporate governance standards,” the bourse regulator said.

There are 34 companies with secondary listings in Singapore, including Dairy Farm International ( Financial Dashboard), EMAS Offshore, Genting Hong Kong ( Financial Dashboard) and Jardine Matheson Holdings ( Financial Dashboard).

Singapore is the world’s most international exchange with 40% of its listed companies from abroad, according to SGX.

Companies from “developed” jurisdictions with a secondary listing in Singapore will not be subject to additional regulatory requirements, SGX said, adding that they must remain primary-listed on their home exchange.

SGX’s website will carry more information on secondary listings from Nov 3.