Connect with us


Minister Indranee Rajah disputes FT report claiming govt gave banks ‘unusual’ briefings

Minister Indranee Rajah rejected the Financial Times’ portrayal of recent government briefings with top international banks as ‘unusual.’ She clarified to WP MP Louis Chua that such engagements were not unusual and aims at addressing current issues.



SINGAPORE: Minister in the Prime Minister’s Office Indranee Rajah addressed a Financial Times (FT) report on Tuesday (7 May), rejecting its characterization of government meetings with top international banks as “unusual.”

The article, published on 20 April under the title “Singapore gives top-level briefings to reassure foreign banks on stability,” suggested that the government had provided international banks with an “unusual series of top-level briefings on geopolitics.”

According to the report, the purpose of these briefings was to reassure the banks about Singapore’s ability to remain stable and neutral amidst increasing tensions between China and the West.

In response to a parliamentary question filed by Mr Louis Chua, Workers’ Party Member of Parliament for Sengkang GRC regarding the objectives and key messages of these briefings, Ms Indranee in a written reply on Tuesday (7 May) disputed the framing of the meetings by FT.

“It is surprising that such a poorly sourced story, vainly searching for a point, could appear in a major paper like FT, especially after we had repeatedly clarified matters with the reporter, including telling her the briefings were not unusual,” Ms Indranee stated.

Ms Indranee further challenged the suggestion that the government was conducting these briefings covertly, noting that the FT failed to mention that most of the briefings had been publicly disclosed by ministers on their social media platforms.

“Several asked us follow-up questions, but decided there was no story once we explained our position,” Ms Indranee said.

The FT article cited sources familiar with the talks, indicating that Senior Minister and Coordinating Minister for National Security Teo Chee Hean led several of these meetings.

Other ministers involved included Foreign Affairs Minister Vivian Balakrishnan, Trade and Industry Minister Gan Kim Yong, and Home Affairs and Law Minister K Shanmugam.

The report named Citigroup and Standard Chartered among the US and European financial institutions participating in the briefings, along with local banks.

In her written reply, Ms Indranee emphasized that such briefings involving ministers and officials have been a longstanding practice spanning decades.

She noted that the engagements encompass a diverse range of stakeholders, including not only financial institutions but also businesses, non-governmental organizations, unionists, and students, highlighting the government’s commitment to engaging with stakeholders extensively.

Minister’s response to strengthening anti-money laundering measures

Mr Chua, in addition, submitted a question to the Prime Minister regarding plans to bolster anti-money laundering regulations following the S$3 billion money laundering probe, which stands as Singapore’s largest to date.

In this case, ten individuals have been charged, with five already sentenced to jail terms ranging from 13 to 15 months.

Responding to Mr Chua’s inquiry, Ms Indranee revealed that an inter-ministerial committee has been actively engaged in investigating the matter and intends to provide updates on its findings in the forthcoming months.

The establishment of this committee was announced in October 2023, with Ms Indranee assuming the role of chairperson.

Ms Indranee, who also serves as the Second Minister for Finance, leads the committee comprised of political office holders from the Monetary Authority of Singapore and key ministries, including Home Affairs, Law, Manpower, and Trade and Industry.

Share this post via:
Continue Reading
Notify of
Oldest Most Voted
Inline Feedbacks
View all comments

So this bi+ch face is taking on a titan which she know she’ll lose even with their secret Mee Pokma weapon. Only goes to show your shit times will bow to your version of events where as other platform don’t buy the BS you spew.
Swallow it bi+ch because news of how corrupt the PAP cabinet is has started to hit the world.

They listened to you. It is not necessary that they have to agree with you and they wrote what they discerned. The same people on the committee wearing different hats is incest. The govt. should remain as a strong regulator and it should remove itself from all conflicting interests. This is the first step LW should do but he is Finance Minister and also sitting on the board of MAS so who is regulating MAS? An Opposition member should be sitting on all the various boards to have the proper checks and balances. Ownself checking ownself can be attributed to… Read more »

No smoke where got fire????? “Unless it is smoke on the water”?

I­ g­e­t­ p­a­i­d­ o­v­e­r­ $220 p­e­r­ h­o­u­r­ w­o­r­k­i­n­g­ f­r­o­m­ h­o­m­e­ w­i­t­h­ 2 k­i­d­s­ a­t­ h­o­m­e­. i­ n­e­v­e­r­ t­h­o­u­g­h­t­ i­’d­ b­e­ a­b­l­e­ t­o­ d­o­ i­t­ b­u­t­ m­y­ b­e­s­t­ f­r­i­e­n­d­ e­a­r­n­s­ o­v­e­r­ 15k­ a­ m­o­n­t­h­ d­o­i­n­g­ t­h­i­s­ a­n­d­ s­h­e­ c­o­n­v­i­n­c­e­d­ m­e­ t­o­ t­r­y­. t­h­e­ p­o­t­e­n­t­i­a­l­ w­i­t­h­ t­h­i­s­ i­s­ e­n­d­l­e­s­s­… 

More infor… 𝐖𝐰𝐰.𝐏𝐚𝐲𝐬𝟕𝟕.𝐜𝐨𝐦

FT digital subscription is like S$50 pm. And Shitty Citizen Times about S$9.00 pm.
One can extrapolate which one rich people buy, therein lies value for money spent.

On many previous occasions Kuan Yew banned foreign media when he dislike them. Or else He crimped their circulation. 3rd, he allowed the media to sell, but without advertisements.

Hahaha what can Indranee do? F bloody shame on u woman. Go sell your body at Geylang better I suggest.

All u can do is throw files, hahaha.

FT certainly does it’s home work well. The saw the CLUES CLEARLY accorded to them on the Keppel Bribery Debates in Parliament. FT understand ENTIRELY FULLY CLEARLY ONLY sheeps buy the Keppel Bribery Investigations by CPIB story.

That’s why the FT TAKE the PAP head on.

When CPIB LOPSIDED work is protected by Parliamentarians as exemplary, final, FT knew and went ahead to EXPOSE the PAP Administration’s weaknesses loopholes.

Hahaha 😂 😂.

It is highly likely that the FT have opted, … not to accept this regime or their ministers version of events !!!

So, … criticise and lambast the FT all you like, write in if you so choose, .. but unlike the Shit Times, their hands and journalistic integrity are neither tied or compromised !!!

Tough shit, … live with it and deal with it !!!