Phillip Securities Pte Ltd announced on Aug, 12 2026 that it has established an unsponsored Singapore Depository Receipts (SDRs) programme to issue SDRs representing shares of companies listed on the Indonesia Stock Exchange.

The SDRs will be quoted on Singapore Exchange Securities Trading Limited (SGX-ST) after regulatory approval. Investors will trade the SDRs in Singapore dollars on SGX-ST without direct interaction with the Indonesia Stock Exchange.

Under a deed poll dated Oct, 16 2025, each SDR will evidence ownership of underlying Indonesian shares held by PT Phillip Sekuritas Indonesia, the appointed custodian. The Central Depository (Pte) Limited will be the registered holder of the SDRs.

Holders will receive cash dividends and other distributions, converted into Singapore dollars where possible, but will not have voting rights in the underlying shares. The prospectus outlines fees of up to SGD5 per 1,000 SDRs for issuance or cancellation and up to 1 % on gross cash dividends for distribution services.

The document stresses investment risks, including price volatility, liquidity constraints, Rupiah/SGD exchange-rate movements and the absence of direct shareholder rights. Investors are advised to consider these factors and seek professional advice before trading the SDRs.