Beyond funding, improved trading volume, SMID pricing also good metrics of EQDP’s success
Capital is important, but whether the momentum can be sustained is an indicator too, analysts say
[SINGAPORE] Singapore’s Equities Market Development Programme (EQDP) has signalled its ability to draw in private capital, but analysts say that its success needs to also be measured by the programme’s momentum and long-term ecosystem changes.
The EQDP, introduced in February 2025, has so far attracted more than a dollar in private capital for every dollar of public funds invested. This works out to a crowd-in ratio of more than 1:1, said Minister for National Development Chee Hong Tat in a speech in October.
Analysts noted that the ratio is an encouraging early indicator of the programme’s success.