Singapore’s financial system has weathered COVID-19 well thus far: MAS Ravi Menon

Singapore financial system

In his remarks at the MAS Annual Report 2020/2021 Virtual Media Conference on 30 June 2021, Mr Ravi Menon, Managing Director of MAS said that the Singapore financial system has weathered COVID-19 well thus far. “Banks entered the crisis from a position of strength and have been a source of stability and support for individuals […]

Jamus ignores the sufferings of people hurt by currency speculation

Jamus Ignores the Impact of Currency Speculation

Currency speculation, in particular, the speculation of the Singapore dollar, can take place with or without knowing the full size of our reserves. When Jamus called for the revelation of the full size of the Singapore reserves, what he is really asking for is a more ‘efficient’ speculative attack on the Singapore dollar. WP Jamus […]

This is about lives, not theoretical musings: DPM Heng to Jamus Lim

Jamus Lim Theoretical Musings

“Let us not play with fire. This is about the lives of our people, not theoretical musings,” DPM Heng Swee Keat said to WP Jamus Lim in Parliament, 26 February 2021. Mr Heng reiterated that it is not in our national interest to disclose the size of the reserves. Revealing the size of the reserves […]

Triple-A rated Temasek to issue 10, 30.5 and 50-year US dollar bonds

Triple-A Temasek AAA rating

Temasek investments are financed using dividends and other cash distributions it receives from its portfolio companies and other investments, divestment proceeds from sale of its investments, and borrowings and debt financing sources such as the Temasek Bonds and Euro-commercial Paper Programme. No, it is not funded by CPF.

70% Singaporeans in senior management roles in retail banks’ local functions

Singaporean core financial institution

MAS established a $125 million package earlier this year to encourage financial institutions (FIs) to retain, train and hire Singaporeans. A strong Singaporean core complemented by high-quality and diverse foreign talent in every major FI. We’re not quite there yet but the picture across the sector as a whole is better than often portrayed especially on social media. Singaporeans make up 70% of the workforce in the finance sector. PRs make up another 14% according to MAS estimates.