What happens when a Singaporean stock brokerage firm goes bankrupt?

In Singapore, what would happen if a stock brokerage firm collapses? What happens to the customers’ shares and cash? Are brokerage accounts insured in the same way that bank accounts are insured by the SDIC (Singapore Deposit Insurance Corporation)?

I am particularly concerned about the case of stock brokerage firms that hold their clients’ shares under a custodian instead of each customer holding their shares under direct registration with the Central Depository (CDP) (examples of such brokerage firms: Standard Chartered, FSMOne, etc.).