Today, Sydney wants to dissolve the same borders which KL is looking to strengthen. The rest of Asia would do well to take a good look at the changes that surround them today, before placing their bets on who will more likely succeed in the new world order. Straits Times Singapore. The signing ceremony with SGX chief executive Thomas Kloet was witnessed by Singapore Deputy Prime Minister Lee Hsien Loong and the Australian Federal Treasurer Peter Costello. Under the agreement, investors in Australia and Singapore will be able to buy and sell stocks listed in each other's market through stockbrokers in their own countries.
Singaporean investors can settle their trades in either currency.
Australian investors will settle in Australian dollars. The same imperatives apply in our part of the world,'' he added. At a press briefing later, Mr Kloet said they were working on the number of listings to be selected. About half of the companies would be Singaporean and the rest Australian. Both sides agreed that the pact could serve as a role model for other exchanges.