AA
A
A

Mr Lee Yi Shyan, at the 21st Bluesky Exchange & Evening

Mr Lee Yi Shyan, at the 21st Bluesky Exchange & Evening

OPENING ADDRESS BY MINISTER OF STATE FOR TRADE & INDUSTRY, MR LEE YI SHYAN, AT THE 21ST BLUESKY EXCHANGE & EVENING ON 29 AUGUST 2006, 7.10PM, AT PHILLIPS SECURITIES PTE LTD

Mr Lim Hua Min,

Executive Chairman,

Phillip Securities Pte Ltd

Distinguished Guests

Ladies and Gentlemen

Good Evening

Introduction

A warm welcome to all of you for joining us today at the 21st BlueSky Exchange and Evening. On behalf of ACE, I would like to extend our thanks to Phillip Securities Pte Ltd for hosting this evening’s event.

Public-Private Partnerships

The Over-The-Counter (OTC) private equity trading platform established by Phillip Securities is the first of its kind in Singapore. It is a significant milestone and an example of how the government works with the private sector to develop new financing initiatives for SMEs.

Through such public-private partnerships, we are able to leverage on expertise and resources from both the public and private sectors to introduce a spectrum of financing initiatives that cater to the different profiles and needs of SMEs.Some recent examples include

  1. the SME ACCESS Loan, which provides loans through securitisation to more SMEs,
  2. the Enterprise Fund, offering an alternative channel of financing for asset-light companies,
  3. the Internationalisation Finance Scheme, offering loans to Singaporean companies venturing overseas; an
  4. the Trade Credit Insurance Programme, which helps lower premiums and enable our SMEs compete better in international markets.

Besides working with government, private sector financial institutions are also independently developing new products for SMEs. Many financial institutions are placing more focus on supporting SMEs. Some even have SME-centric units to better understand their unique needs and develop new financing tools that are more customized to suit their requirements. For example, to address the problem of lack of collateral faced by SMEs, several banks have recently started offering unsecured loans to SMEs.

Conclusion

Going forward, ACE will continue to work closely with the government and private sector partners, financial institutions, and financial intermediaries to identify innovative financing instruments, bridge gaps in the financing environment and educate SMEs in financing-related issues.

On this note, I wish Phillip Securities all the best in making the OTC Capital a vibrant trading platform. I look forward to seeing more companies tapping on the OTC Capital to raise funds for their growth and expansion.

Thank you very much.

HOME ABOUT US TRADE INDUSTRIES PARTNERSHIPS NEWSROOM RESOURCES CAREERS
Contact Us Feedback