Chee Hong Tat, Deputy Chairman of the Monetary Authority of Singapore (MAS), said the new initiatives will include government grants to support corporate efforts. Speaking at an event hosted by DBS Group Holdings Ltd., the city-state’s largest bank, Chee emphasized that the move is part of an ongoing strategy to strengthen Singapore’s equity market and align it with reforms seen in other Asian markets.
The announcement follows Chee’s earlier “value unlock” proposal unveiled in September, which called on Singaporean firms to deliver stronger returns and improve governance. Similar efforts have been launched in Japan, South Korea, and Thailand as regional regulators push companies toward better capital efficiency and transparency.
Singapore has already introduced measures to boost market participation and liquidity under its S$5 billion ($3.85 billion) Equity Market Development Programme. A second round of fund manager appointments, expected later this year, will include global, regional, and local investment managers.
Chee noted that authorities are taking a deliberate approach rather than resorting to “quick fixes” such as instructing state investment giants GIC or Temasek Holdings to pour money into local equities. “We decided not to go for quick fixes,” he said, stressing that collaboration with the private sector has been key in shaping the government’s proposals.
The city-state’s benchmark equity index is currently trading near record highs, with trading turnover rising and initial public offerings showing early signs of revival.
At the same event, DBS CEO Tan Su Shan urged Singapore to “raise its ambitions” and take more calculated risks to reinforce its position as a global financial hub. “Do we have it in us to take those risks while we defend our stability, defend our rule of law…?” Tan asked. “I think we can.”
Bloomberg previously reported that Singapore’s ongoing initiatives reflect a broader regional trend of governments pushing for higher corporate returns and stronger investor engagement.
