SGX Group and Indonesia Stock Exchange Launch Indonesia–Singapore Unsponsored DR Linkage Featuring Blue-Chip Underlying Stocks

On Thursday, October 16, 2025, SGX Group (Singapore Exchange) announced the launch of the Indonesia–Singapore Unsponsored DR Linkage, marked by the inaugural issuance of Singapore Unsponsored Depository Receipts (SDRs). This milestone follows the signing of a Memorandum of Understanding (MoU) between SGX Group and the Indonesia Stock Exchange (IDX) in 2024. The collaboration aims to deepen capital market connectivity across ASEAN and represents the second cross-border Unsponsored DR initiative in the region, following the Thailand–Singapore Unsponsored DR Linkage. Through this initiative, investors in Singapore can access Indonesian-listed securities via their local brokers, with transactions conducted in Singapore dollars during SGX trading hours. The SDRs are issued by Phillip Securities Pte Ltd, representing beneficial ownership interests in shares of Bank Central Asia, Telkom Indonesia, and Indofood CBP, which are constituents of the IDX30 Index. This initiative broadens market access, enhances liquidity, and strengthens regional visibility for Indonesian listed companies.