Phillip Securities Pte Ltd announced on Aug, 12 2026 that it has established an unsponsored Singapore Depository Receipts (SDR) programme to give local investors access to shares of companies listed on the Indonesia Stock Exchange (IDX).

The brokerage will apply to Singapore Exchange Securities Trading Limited for the quotation of SDRs, which will be traded and settled in Singapore dollars. Investors will trade the SDRs on SGX only and will not interact directly with the IDX or overseas brokers.

Under a deed poll dated Oct, 16 2025, each SDR will represent a specified number of underlying Indonesian shares held by PT Phillip Sekuritas Indonesia, the appointed custodian. Dividends and other cash distributions received in Indonesian rupiah will be converted into Singapore dollars before being paid to holders, who will not have voting rights over the underlying shares.

Issuance and cancellation fees are set at up to 5 Singapore dollars per 1,000 SDRs (minimum 50 Singapore dollars and maximum 1,000 Singapore dollars) plus up to 0.105% of the transaction value, with similar charges applying on cancellation.

The programme is launched under the Securities and Futures (Offers of Investments) (Exemption for Depository Receipts) Regulations 2023, meaning no prospectus registration with the Monetary Authority of Singapore is required.