Market Intelligence
Stay informed with the latest official notices and industry reports from Singapore's business landscape.
Official Notices
Joint ABS-MAS Response to Letter "What PayNow’s alias removal really signals" - The Straits Times, 28 May 2026
ABS and MAS' joint response to the ST Commentary reiterates that the sole objective of the removal of PayNow nicknames is to address impersonation scams – a known modus operandi where scammers misuse nicknames to pose as trusted individuals or entities. Contrary to what Dr Rabetti suggested, it is not to support compliance and enforcement or to compromise privacy. The removal of nicknames is part of a broader set of anti-scam measures, including the setting of transaction limits, cooling-off periods, fraud monitoring, and consumer education. Together, these help strengthen protection against evolving scam risks.
Consumer Price Developments in April 2026
This April 2026 report contains an update of the latest consumer price developments in Singapore, prepared by MAS and the Ministry of Trade and Industry.
Opening Remarks by Mr Chia Der Jiun, Managing Director, Monetary Authority of Singapore at the UBS Asian Investment Conference, Singapore Wealth Edition, on 25 May 2026
At the UBS Investment Conference, Singapore Wealth Edition, Mr Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, share his perspectives on navigating the latest macro-economic outlook amid an evolving geopolitical landscape.
Welcome Remarks by Mr Edward S. Robinson, Deputy Managing Director (Economic Policy) & Chief Economist, Monetary Authority of Singapore, and Member of the ABFER Council at the 13th Asian Monetary Policy Forum on 22 May 2026
At the 13th Asian Monetary Policy Forum, Mr Edward S. Robinson, Deputy Managing Director (Economic Policy) & Chief Economist, MAS, opened the Forum and outlined how policymakers are facing large interconnected shocks from tariffs, geopolitics, energy, and technological change. Central banks must protect their credibility through technical competence and impartiality in this challenging environment.
Accountant Sentenced to 30 Weeks’ Imprisonment for Submitting Fictitious Documents to IRAS
21 May 2026 Daniel Chun Ling Ping (“Chun”), a 50-year-old accountant, was convicted after trial for furnishing fictitious invoices and transaction listings during a Goods and Services Tax (“GST”)...
13th Asian Monetary Policy Forum to Discuss Challenges Facing the Global Economy and the International Monetary System
Singapore, 21 May 2026… The 13th Asian Monetary Policy Forum (AMPF), organised by the Asian Bureau of Finance and Economics Research (ABFER), the National University of Singapore (NUS) Business School, and the Monetary Authority of Singapore (MAS), will take place in Singapore today and tomorrow. The AMPF brings together leading academics and policymakers to examine key economic and financial issues in Asia and the world.
"Financing Asia’s Transition - From Risk to Readiness: Preparing for a Climate-Resilient Future" - Opening Address by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of the Monetary Authority of Singapore, at the Financing Asia’s Transition Conference on 20 May 2026
Opening Address by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of the Monetary Authority of Singapore, at the Financing Asia’s Transition Conference on 20 May 2026.
MAS Revokes the Major Payment Institution Licence of Bsquared Technology Pte Ltd
MAS has revoked the Major Payment Institution Licence of Bsquared Technology Pte Ltd (BSQ) with effect from 14 May 2026. BSQ is no longer permitted to provide digital payment token services in Singapore under the Payment Services Act 2019 (PS Act) from the same date.
Keynote Speech by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of the Monetary Authority of Singapore, at the Institute of Banking and Finance (IBF) Financial Industry Fiesta 2026 on 19 May 2026
At the IBF Financial Industry Fiesta 2026, Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman, MAS announced the launch of the Young Talent Programme for AI in Finance, which aims to equip students with both applied AI and financial sector skills that are in demand.
Industry Reports
Singapore Company Formations: April 2026 — Easter Weekend Trims Volume to 6,493 as IT Share Climbs to 10.9%
April 2026 recorded 6,493 new formations, down 10.5% MoM (vs revised March 7,258) and 1.6% YoY (vs April 2025 6,598). The headline decline is largely a calendar artifact — Good Friday and Easter weekend compressed the working-month — while IT & Software (Division 62) extended its share gain to 10.9%, the second consecutive month above 10%.
Singapore Company Formations: March 2026 — Post-Holiday Rebound to 6,634 Entities, IT Sector Surges to 10% Share
March 2026 saw 6,634 new Singapore company formations, a sharp +23% rebound from February's Lunar New Year compression and the strongest March print in this dataset. While headline volume normalized, sector composition shifted toward IT & Software (10.0% share) at the modest expense of holding-company structures.
Singapore Company Formations: February 2026 — Lunar New Year Dip Masks Structural Resilience
Singapore recorded 5,180 new company formations in February 2026, a 29.7% month-over-month decline driven primarily by the Lunar New Year holiday. Despite the headline contraction, Local Company share rose to 73.1% and technology formations maintained momentum at 5.8%, suggesting structural resilience beneath the seasonal dip.
Singapore Company Formations: January 2026 — 7,052 Entities Signal Robust New-Year Momentum
In January 2026, Singapore recorded 7,052 new company formations, up 8.5% month-over-month and 17.9% year-over-year. Wholesale Trade (14.7%), Head Offices & Consulting (11.3%), and IT & Software (8.1%) led the sector mix, while Local Companies comprised 70.1% of formations.
Singapore Company Formations: December 2025 — Strong Year-End Surge with 43% YoY Growth
In December 2025, Singapore recorded 6,233 new company formations, marking a robust year-end performance with +43.5% year-over-year growth. Wholesale Trade (15.6%), Head Offices & Consulting (10.8%), and Retail Trade (9.9%) led sector formations.
Singapore Company Formations: November 2025 — Financial Services & Holding Structures Dominate
In November 2025, Singapore recorded 5,629 new company formations, down 17.6% MoM but stable YoY. Financial Services represented 8.3% of formations, with holding companies comprising 86% of this category. Key opportunities in trade-tech enablement and family office services.