"Singapore: The Crazy, Rich Rubber City-State"

From Global Financial Data, December 20, 2018: 

Global Financial Data has the most extensive database on historical stocks available anywhere.  In particular, we have collected data on stocks that listed on the London Stock Exchange from the 1600s until 2018.  London was the financial center of the world until World War I and many countries in emerging markets listed shares on the London Stock Exchange before a stock exchange even existed in that country.  This enables us to calculate stock market indices for emerging markets during the 1800s and 1900s before stocks listed on local exchanges and local emerging market indices were introduced. This is one in a series of articles about those indices. Singapore is one of the most important financial centers in Asia, and has grown from a small island of 1.6 million in 1960 to over 5 million people with a per capita income of over $55,000. Any information about the historical performance of stocks in Singapore is a welcome addition to the financial history of the city-state.  

Singapore Before Singapore.
Stamford Raffles founded Singapore as a trading post of the British East India Company in 1819. The city became part of the Straits Settlements in 1826 and its capital in 1836. The British were defeated in the Battle of Singapore on February 15, 1942 when 60,000 British troops surrendered to the Japanese in one of the worst defeats of British forces in history. The Japanese surrendered on August 15, 1945, but the failure of the British to protect Singapore from the Japanese lowered Britain’s standing in the eyes of Singaporeans. Malaysia and Singapore were granted self-government in 1959, but because of economic and political differences, Singapore seceded from Malaysia and became an independent republic on August 9, 1965. The Malayan Stock Exchange was set up on May 9, 1960. Floors for trading shares were set up in both Kuala Lumpur and in Singapore. After Singapore seceded, the structure of the stock exchange remained the same, but its name was changed to the Stock Exchange of Malaysia and Singapore. When currency interchangeability was terminated between Malaysia and Singapore in 1973, the Stock Exchange of Singapore separated from the Kuala Lumpur Stock Exchange. As this brief history shows, there was no trading of Singapore stocks in Singapore before 1960. Singapore stocks were traded in London or not at all. GFD has been able to collect data on a handful of Singapore stocks in order to put together an index of Singapore shares before local trading began.

Singapore Shares Before Independence
Singapore, as well as most of Malaysia, was a center for rubber production before World War II. The largest of these companies was the Straits Rubber Co., Ltd. which was registered in 1909, reorganized in 1919, and was acquired by Consolidated Plantations in 1972....

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