that singapore ’ s connectivity and ecosystem provides the perfect springboard for pe / vc managers to capture opportunities in asia. singapore has political and economic stability, well - regulated financial markets, excellent transport and digital connectivity, a skilled talent pool, and extensive trade linkages with asean. singapore has one of the most vibrant pe / vc ecosystems in asia. pe / vc assets under management increased by 42 % year - on - year to s $ 555 billion in 2021. over the last five years, growth in pe / vc investments has averaged nearly 30 % per annum. as of june this year, there were a total of 428 pe / vc managers in singapore, up from 336 at the start of 2021. many existing players have expanded their capabilities and investment teams. the asia pacific region remains the top investment region for this group of managers, with 55 % of assets invested within the asia pacific. singapore accounted for 46 % of the record - high us $ 20 billion in vc deal value in asean last year [ 5 ]. to make pe / vc investment opportunities more accessible, we now have private market platforms in singapore – such as addx and capbridge. mas is working to anchor more such platforms here. investing to deliver sustained long - term returns in an increasingly uncertain world is no easy task. i hope today ’ s conference will give you ideas for growth and opportunities to connect with valuable partners. thank you and best of luck. [ 1 ] boissay, f, de fiore, f, and e kharroubi, “ hard or soft landing? ”, bis bulletin no. 59, july 2022 [ 2 ] bis annual economic report 2022 [ 3 ] bain & company asia - pacific private equity report 2022 [ 4 ] preqin territory guide asean 2022 [ 5 ] preqin territory guide asean 2022

koh yong guan : review of singapore ’ s economy and financial sector opening remarks by mr koh yong guan, managing director of the monetary authority of singapore, at the press conference releasing the mas ’ s annual report, singapore, 21 july 2004. * * * introduction good morning, ladies and gentlemen. let me first give you a quick overview of current economic conditions. i supporting non - inflationary economic growth as you know, the singapore economy experienced a difficult first half last year. global economic conditions had improved markedly since then, providing support for a rebound in the domestic economy. we have since recorded four consecutive quarters of solid growth. the latest economic data released by mti showed that gdp in second quarter this year grew a robust 9. 1 % on a seasonally adjusted annual rate basis. looking ahead, the prospects for the external economy remain bright. notwithstanding the risks from rising interest rates, higher oil prices and a sharper than expected slowdown in china, the upturn in the global economy is likely to be sustained through the rest of this year and will support the continued expansion in the domestic economy. barring any major shocks, singapore is on track to achieve gdp growth of 5. 5 % to 7. 5 % this year. following an extended period of very low domestic inflation, signs of inflationary pressures have emerged in recent months. the forecast for cpi inflation in 2004 was hence revised upwards to the 1. 5 - 2. 0 % range. the labour market is also expected to strengthen, with the unemployment situation improving for the rest of the year. against this backdrop, mas shifted to a policy of modest and gradual appreciation of the s $ neer in april 2004. this policy stance was assessed to be supportive of economic growth, while ensuring low and stable inflation over the medium term. let me now turn to other aspects of mas ’ work during the past year. ii regulation and supervision first, in the area of regulation and supervision, we issued the “ objectives and principles of financial supervision in singapore ” monograph earlier this year. this will help the financial institutions we regulate and supervise better understand the desired outcomes of our supervision. let me say a few words specifically on risk - based capital. we issued details of changes to the capital adequacy requirements for singapore - incorporated banks in may 2004. we believe the new requirements are prudent but competitive, and more sensitive to the banks ’ actual risk profiles. these changes will give the banks greater flexibility to manage their capital