The BGA Singapore team, led by Managing Director Nydia Ngiow, wrote an update to clients on a corruption scandal rocking the cabinet of Singapore.

Context

  • MTI quickly released a statement noting that all preparations for this year’s Formula 1 Singapore Grand Prix (scheduled for September 20-22) remained on track and that there was nothing to suggest that contracts for the event were structured to the government’s disadvantage.
  • Chee Hong Tat, who has been acting minister for Transport, was appointed full minister for Transport. Current Minister for Sustainability and the Environment Grace Fu will concurrently take over responsibility as minister-in-charge of Trade Relations.

Significance

  • The government will immediately work with industry to develop a voluntary AI Safety Standard and options for the voluntary labeling and watermarking of AI-generated materials in high-risk settings. The National AI Center will work with industry to develop the AI Safety Standard, and the Department of Industry, Science and Resources will work with industry on watermarking.
  • The government is already addressing harms that AI poses in other areas. This includes reforming privacy law, reviewing the Online Safety Act, drafting laws related to misinformation and disinformation and releasing a cybersecurity strategy.

Implications

  • Deputy Prime Minister Wong acknowledged that the party’s popularity will suffer as a result of this case but he was confident that this will have no impact on the leadership transition timeline. The handover will still take place before the next general election and ahead of the next PAP convention in November 2024.
  • Companies should note that it is more likely that the transition timeline will be pushed up to build on the momentum following any goodies that Wong may announce in the 2024 budget that will look to deal with rising costs of living and implement the outcomes arising from his Forward Singapore initiative. Companies should leverage the first half of the year to continue to build and strengthen their relationships with Cabinet ministers.

BGA will continue to keep you updated on developments in Singapore as they occur. If you have any comments or questions, please contact BGA Singapore Managing Director Nydia Ngiow at nngiow@bowergroupasia.com.

Best regards,

BGA Singapore Team

A small ginko leaf

Managing Director, Singapore

Nydia brings over a decade of experience working at the forefront of international affairs and international trade issues in the Asia-Pacific, with the majority of her career prior to BGA spent working for the Singapore government. Nydia most recently managed the China Program at the American National Standards Institute (ANSI) in Washington, D.C., where she brought together technical, business and policy leaders to find solutions to issues affecting U.S.-China trading relations to strengthen U.S. market access in China. She provided member organizations with coverage of policy and reform issues, and furthered ANSI’s relationships with counterpart organizations in China. Positioned in ... Read More