Alvin Tan on investments by family offices in local companies

Government agencies are working to encourage family offices to invest in local companies in a number of ways. Firstly, Singapore family offices applying for tax incentive schemes have been required since April this year to allocate at least 10 per cent or S$10 million of their assets, whichever is lower, to local investments. Secondly, the Monetary Authority of Singapore (MAS) and Enterprise Singapore have set up a number of platforms to connect local companies to potential investors, including family offices. These include investor sessions and matchups. Minister of State for Trade and Industry and MAS board member Alvin Tan outlined his ministry's efforts in reply to an MP's question in Parliament on Wednesday (Oct 5). He pointed out that family offices come to Singapore with an eye on investment and philanthropic opportunities in the broader Asian region. This adds to Singapore's status as a dynamic and purposeful financial sector, supporting growth and opportunity in neighbouring countries, he said.