Tony Á. Verb

🌏💡 We’re building a trusted, high-impact single family office (SFO) ecosystem and channeling more of that capital to philanthropy. 🇸🇬 We now have > 2,000 SFOs — a 10x jump in five years. And we’re seeing it translate into real giving. Total giving hit S$431m in 2023, almost 2X the year before. This didn’t happen by chance. We made deliberate moves in this space, thanks to our many partners who have given me and my colleagues valuable feedback over the years. At MAS, we’ve strengthened our SFO framework and introduced tools like the Philanthropy Tax Incentive Scheme (PTIS) and the Overseas Humanitarian Assistance Tax Deduction Scheme (OHATDS). Together, these allow family offices and donors to channel support locally, and to humanitarian and charitable causes overseas — through qualified intermediaries — with meaningful tax benefits. We’ve also partnered the Community Foundation of Singapore and AVPN so SFOs and families can give with confidence — via donor-advised funds, outcomes-based approaches and vetted opportunities. Platforms like ImpactSG - Gateway to Giving and AVPN’s ImpactCollab (supported by MAS) also help match funders to credible causes, speeding up due diligence and amplifying impact. We will continue to work hard to keep make Singapore Asia’s philanthropy hub. Monetary Authority of Singapore (MAS) 📸: The Straits Times

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At the Singapore Institute of Directors conference, Minister Hong Tat Chee encouraged board directors to be catalysts for value creation, transforming their companies and unlocking the shareholder value that lies within Singapore's corporate sector. He outlined three areas that can help companies unlock value: 1️⃣ Capabilities development - going beyond financial management, skills to include corporate strategy, capital optimisation, investor engagement, and media outreach 2️⃣ Communication - helping others to understand what we can deliver and what value will be created 3️⃣ Communities - having networks that help foster peer learning and knowledge exchange Grateful to Minister Chee for acknowledging that “𝗦𝗜𝗗 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗮 𝘀𝘁𝗿𝗼𝗻𝗴 𝗮𝗱𝘃𝗼𝗰𝗮𝘁𝗲 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝘆𝗲𝗮𝗿𝘀 𝗳𝗼𝗿 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗼𝘂𝘀 𝗹𝗲𝗮𝗿𝗻𝗶𝗻𝗴, 𝗮𝗻𝗱 𝗱𝗶𝗿𝗲𝗰𝘁𝗼𝗿 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁, 𝗮𝗻𝗱 𝘁𝗵𝗲𝗿𝗲 𝗮𝗿𝗲 𝘃𝗮𝗿𝗶𝗼𝘂𝘀 𝗽𝗿𝗼𝗴𝗿𝗮𝗺𝗺𝗲𝘀 𝘁𝗵𝗮𝘁 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗰𝗮𝗻 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗹𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝘁𝗲𝗮𝗺𝘀.” He not only leveraged the conference to share some exciting plans by SGX Group to support companies in communicating their value including the launch of a new index that tracks companies beyond the Straits Times Index (STI), as part of its efforts to showcase Singapore’s broader equity market as well as Monetary Authority of Singapore (MAS)’s plans to work closely with SID to support the development of essential skills. Minister also shared that SID will be launching a chairperson guild. Supported by MAS and SGX, this programme will bring together the board chairs of listed companies to build a micro community for learning and mutual support. Huge thanks to our colleagues at MAS for working behind the scenes with us to facilitate the messages and announcements. 👉 Read Minister’s speech here: https://lnkd.in/g_tSuUSk 📺 Thank you CNA for covering the conference and the opportunity for me to share how SID is supporting the national effort to strengthen our equities market. View the news clip here: https://lnkd.in/g2CnABN7

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Almost two years in the making, Singapore has finally released some guidelines on greenwashing for businesses. The guidelines from the Competition and Consumer Commission of Singapore (CCS) emerge 10 months after an advertisement that claimed VietJet Air's flights are “eco-friendly” was banned. The guidance outlines 5 principles for businesses to follow when making claims about the qualities, uses or benefits of their products. These include ensuring claims are accurate, clear, meaningful, evidence-based and sufficiently substantiated. “We want to ensure that environmental claims – and all quality-related claims – reflect genuine facts rather than empty promises,” said CCS CEO Alvin Koh. Singapore has taken a light-touch approach to greenwashing to date, unlike Australia, where companies including Qantas, The Clorox Company, Woolworths Supermarkets have been fined for making bogus sustainability claims. Last week, Australia’s finance regulator took legal action against Fiducian Group Limited for greenwashing its ESG fund. The most notable case of greenwashing in Singapore to date was a 2023 promotion for consumer electronics company PRISM+ that claimed consumers could “save Earth” by buying its energy-efficient airconditioners. Full story here on Eco-Business https://lnkd.in/ghQdDSV9 #greenwashing #greenclaims

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