On Aug, 12 2026, Phillip Securities Pte Ltd announced the establishment of an unsponsored Singapore Depository Receipts (“SDRs”) programme that will allow investors to trade receipts representing shares of companies listed on the Indonesia Stock Exchange (“IDX”) directly on Singapore Exchange Securities Trading Limited (“SGX-ST”).

The SDRs, to be issued under the Securities and Futures (Offers of Investments) (Exemption for Depository Receipts) Regulations 2023, will be quoted on SGX-ST following the bourse’s approval. Each SDR will represent a specified number of underlying IDX-listed shares held in Indonesia by PT Phillip Sekuritas Indonesia, the appointed custodian.

Cash dividends or other cash distributions received in Indonesian rupiah will be converted into Singapore dollars for payout where practicable, after deducting applicable fees and taxes. Investors will not hold voting rights in the underlying shares.

Trading in SDRs will take place only on SGX-ST and be cleared through The Central Depository (Pte) Limited. Fee highlights include up to SGD5 for every 1,000 SDRs issued or cancelled (subject to a minimum fee of SGD50 and a maximum of SGD1,000) and a corporate-action fee of up to 1 percent of gross cash distributions.

Phillip Securities cautioned that SDR investments carry risks, including potential full loss of capital, price volatility driven by movements in the underlying shares and the rupiah/SGD exchange rate, and possible trading halts if the corresponding IDX-listed shares are suspended.

The programme is established under a deed poll dated Oct, 16 2025, and the SDR offering document has not been registered as a prospectus with the Monetary Authority of Singapore.