Phillip Securities Pte Ltd announced on Aug, 12 2026 the establishment of an unsponsored Singapore Depository Receipts (SDR) programme to issue SDRs representing Non-Voting Depository Receipts (NVDRs) that in turn represent shares of companies listed on the Stock Exchange of Thailand.

Under the deed poll dated May, 22 2023, the company may issue SDRs from time to time in reliance on the Securities and Futures (Offer of Investments) (Exemption for Depository Receipts) Regulations 2023. Each SDR will be evidenced by a master receipt registered in the name of The Central Depository (Pte) Limited.

An application will be made to Singapore Exchange Securities Trading Limited for quotation of the SDRs. Trading will be conducted in Singapore dollars, and clearing and settlement will take place through the Central Depository. Phillip Securities (Thailand) Public Co. Ltd. is appointed as the initial custodian for the NVDRs.

The firm highlighted that investors in the SDRs will not have direct interaction with the Thai exchange or brokers, and that investing in the receipts involves risks including equity market volatility, Thai baht/Singapore dollar exchange movements and liquidity considerations.

Phillip Securities advised potential investors to review the full offering document and consider their investment objectives, financial situation and needs before participating in the programme.