Monetary authority of Singapore to Launch new electronic platform

The Monetary Authority of Singapore (MAS) will launch an electronic platform called Offers and Prospectus Electronic Repository and Access (OPERA) in stages beginning this year in a move to improve process efficiency. At present, prospectus and other offer documents relating to offers of shares, debentures and units in business trusts and collective investment schemes are lodged in hard copies with MAS. It said the platform would, among others, allow users to lodge documents electronically, make requisite payments with credit cards on-line and allow users to submit applications for registration of business trusts. The new electronic lodgment process will remove the need for physical submissions and provide greater convenience and flexibility to market participants, MAS said in a statement.