Hetal S.

The chorus of cheers is already loud, but I feel compelled to add to it - many kudos to our FinMin for ushering in the GST 2.0 reforms! 2025 has brought its share of economic headwinds - driven largely by global tariff politics and muted corporate results. Yet, our Foreign Policy has remained resolute and steadfastly neutral - a strategic stance that deserves recognition on its own. Against this backdrop, the new GST reforms - especially the targeted cuts - come as a much needed tailwind. These steps will meaningfully support growth and consumption, and have been widely welcomed by average Indians and businesses alike. The reduction of GST on lifesaving drugs, health insurance, diagnostic services, staple household items, and consumer goods will have an impact that goes far beyond numbers. These changes promise a real improvement in quality of life and a more secure future for millions. I’m sure I’m not the only one heaving a sigh of relief over the simplified regulations. Beyond reducing compliance burdens for SMEs and individual GST payers, this overhaul will help bring more small businesses into the formal economy - improving their credit eligibility and strengthening the overall underwriting ecosystem. At InCred, we’re excited to do our bit. As we watch how these reforms shape consumer sentiment, we remain committed to providing individuals and MSMEs with hassle-free access to credit - empowering them to grow, build, and thrive.

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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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The next decade will define Asia Pacific’s climate transition. Achieving net-zero ambitions has the potential to grow the Asia Pacific economy by almost US$50 trillion by 2070, but at the same time requires us to scale up emerging technologies, build new industries, and unlock US$80 – US$90 trillion in investment by 2050. How Asia Pacific responds will shape the world’s net-zero outcome. The opportunity is historic, and the risks are significant. The Asia Pacific can lead a zero-carbon industrial revolution as transformative as its recent decades of economic growth. What comes next is more difficult and requires deep changes in industrial policy, energy systems, and technology adoption. A recently released Deloitte paper focuses on the next wave of decarbonisation, and the critical pillars required to get there: future fuels, critical minerals, batteries, and industrial transformation. It delves into specific opportunities and key actions for policymakers that are needed to address bottlenecks in each pillar to unlock private capital and accelerate change. Download the report for a comprehensive look at how the Asia Pacific can lead the global shift to net-zero: https://lnkd.in/gERTWGd8 Will Symons Aloysius Teh Nicola Weir

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🌏💡 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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As Singapore celebrates its 60th birthday, it is also witnessing another milestone- a generational shift in leadership within many of its family-owned enterprises. Family businesses form the backbone of Singapore’s and Southeast Asia’s economy- making up over 60% of SGX-listed companies and 80-90% of large companies in the region. Across Asia-Pacific, family-owned businesses have outperformed non-family businesses for the past two decades. But with US$5.8 trillion in wealth expected to transition in the region by 2030, the question is: how many of these enterprises will thrive into the next century? Globally, only 12% make it to the third generation. The answer lies in governance, institutionalisation, and next-gen readiness: 1. Embedding clear decision-making frameworks and professional management alongside family stewardship 2. Preparing heirs not just to inherit assets, but to lead with purpose 3. Encouraging innovation while honouring legacy Singapore is showing the way- with a fivefold increase in family offices over the past four years, becoming a hub for multi-generational families with global footprints. The opportunity ahead is immense: to create enterprises that not only weather economic cycles but also stand as living legacies for 100 years and beyond. Read more: https://shorturl.at/jcpLl #SG60 #FamilyBusinesses #FamilyOffices #Singapore

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Has the 5-Year ILR Route Just Been Scrapped? Parliament just debated two major e-petitions with over 270,000 signatures, calling on the government to keep the five-year settlement route for Skilled Workers and Hong Kong BN(O) visa holders. The discussion revealed deep concerns and highlighted the wider impact of potential ILR pathway changes. Key debated issues: 👉 Retrospective Changes: MPs stressed that changing terms for those already on a five-year ILR track after they’ve built lives, invested, and planned around clear rules would be unfair and cause unnecessary hardship. 👉Transition & Fairness: Concerns raised over applying new rules without clear exemptions for existing visa holders, which could put families, workers, and communities in limbo. 👉 Impact on NHS, Care & Key Sectors: Parliament recognised Skilled Workers are filling vital roles in the economy, especially in health and social care. Disruption to settlement pathways may risk workforce stability. 👉 BN(O), Hong Kong, & Trust: MPs emphasised the UK’s moral duty to keep promises to Hong Kong BN(O) holders and avoid undermining trust or handing propaganda victories to repressive regimes. 👉 Consultation & Assessment: Calls for full government transparency, meaningful public and stakeholder consultation, and rigorous equalities/human rights impact assessment before any ILR changes are implemented. So what happens next? 👉 The government has promised a formal consultation later in 2025, engaging experts, MPs, and civil society. 👉 No law has been changed yet but the debate strongly shapes what reforms might follow. Takeaway for Migrants, Employers & Advisers: 👉 Watch for the upcoming government consultation, your feedback might shape future law. 👉 Be aware: nothing is yet final but the importance of stable, fair settlement routes has never been clearer. 👉 Settlement is about more than policy, it’s about certainty, fairness, and belonging for people who have already contributed so much. 👉 Participants called for the government to “stand by what we promised” not to move the goalposts for those already part of UK communities. For more details, see the full Hansard transcript and Parliamentary reporting from the September 8th ILR debate.

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#SID’s Listed Entity Director (LED) Programme keeps growing 🌱 It was a pleasure speaking at the Singapore Institute of Directors Listed LED Programme, supported by #SGX, with over 80 senior executives and aspiring directors — a programme designed for first-time appointees to boards of listed companies. I joined an engaging panel with K V Rao, seasoned INED and Chair of Tata Group boards, moderated by Su-Yen Wong, FSID, CSP, immediate past Chair of SID. We exchanged perspectives on what it takes to serve effectively in today’s evolving boardrooms. Reflecting on my board journey after 32 years across finance, #banking, #payments, and #fintech in nine organisations. My executive career often felt like a series of sprints — one challenge after another, with little time to pause and reflect. Then came #Covid, and that pause. I asked myself: 👉 How do I want to spend my time — with whom, and on what? That reflection led me to transition into a portfolio career, guided by my 3R framework: 🔹 Read – Build #boardroom capital through continuous learning (#INSEAD IDP, SID). 🔹 #Rebrand – Shape your professional board identity through panels, thought leadership, and visibility. 🔹 Reach – Expand and engage your network (online and in-person) within the board community. The sequence matters — it helps strengthen credibility. That’s when #networking transforms from activity to impact — and the #ROI of your efforts truly compounds. When choosing which boards to serve on, three things matter most: ✨ Where you add real #value ✨ Alignment with your purpose and passion ✨ Chemistry with the board and its #culture Because culture isn’t just “soft stuff” — it shapes how boards think, decide, and behave. During the session, I also shared a few lessons that continue to guide me: 🌿 On #BoardDynamics – The Chair sets the tone. The best Chairs don’t dominate; they listen, guide, and bring harmony — like conductors of an orchestra. Alignment on strategy is vital, and board renewal keeps perspectives fresh. 🎯 On Decision-Making – Once, we moved a major M&A item to the start of a meeting. That small change completely shifted the tone and quality of discussion, when everyone was fresh and focused. It reminded me that how we set the agenda — and the order we choose — can change the outcome entirely. 💬 On #Diversity – It’s not just about who’s in the room, but whether every voice is heard. Listening to understand — not to reply — builds trust. Sometimes, the best way to unlock fresh thinking isn’t to argue, but to introduce new information and let the discussion evolve naturally. 🤝 On Chair–CEO relationship - It is the anchor of board dynamics. Built on #trust and openness, it sets the tone for transparency and collaboration. The CEO feels safe bringing both good and bad news to the table, and the Chair ensures that conversations stay open and constructive. 🙏Also grateful to learn from the panel and participants! #BoardLeadership #CorporateGovernance

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