President's Message

Together, we build a vibrant and robust industry

Dear Fellow Members of FMAS,

The last two years have been a roller coaster ride due to the COVID-19 pandemic. I remembered saying this last year that “We must remain relevant and seize new opportunities. Just as the industry is evolving due to the pandemic and created a new “norms” as well as embracing the digital transformation in order to evolve. This is the key factor towards remaining resilience.”

I still strongly believe this view still holds true and we have “evolved’ and learned to adapt and we have remained resilience. These are traits that we must hold tight. Likewise, I am glad to say that FMAS, as an association, has learned to adapt, ride through the waves and emerged stronger than before.

Last year, FMAS organised a 2-days in-person Charity Event in this difficult climate for “in person events to be conducted” which was a great success. A charity golf event was first held at @ TMCC and a Fireside Chat with Guest-of-honour Mr Ravi Menon of MAS, was held at Wild Rice @ Funan, followed by a play “Don’t Call me Mr Mari Kita” by Wild Rice. The funds had gone into our FMAS Trampoline Fund and distributed for need cause with the help of our Grant committee and The Majurity Trust. The 2021 donor reports and who the grants have been given too is on our website. I believe our collaboration with TMT has made our Social Impact in our charity giving much better over the last couple of years.

in order to run our activities the FMAS also step our activities to drive FMAS income up and this has also benefitted our members.

1. Last year, we had organised 2 forums – the first was in Jan 2021 called the “AFMF Prelude” which was held virtually and the second which was the main “AFMF Forum in Oct 2021” which was a hybrid event held over 2 days. We were very happy to have secured many industry sponsors. The AFMF was very well-received which was a very good sign because it reflects that FMAS is being recognised by the industry and we are attracting the right sponsors and attendees. A big thank you to all our sponsors and members for joining us and especially to our co-host Bloomberg for the help and support rendered. Most importantly, AFMF showed that FMAS can and will continue to wave the flag for the Financial Markets eco system in the region.

2. With Education offering, we had carried on the momentum in offering Financial Markets Education related courses. These courses are designed to fill the gaps in what others may not offer. The Education sub-committee is still trying to add more new courses. All these courses are IBF accredited with CDP hours that are with the Govt Grants. So do sign up and support us if it suits your organisation.

Both the AFMF and Educations courses have boosted the association’s revenue, allowing us achieved positive profits for the last Fiscal Year a great accolade for our team. Our Treasurer, Mr Jacky Tai will go through the Treasurer’s report later. I would like to congratulate and give thanks to the FMAS Executive Committee and Secretariat Team for the job well done.

The plans ahead – we will definitely be pushing for more. In fact, I can tell you now that FMAS has made a bid to ACI Global FMA to bring in the ACI World Congress for 2023 into Singapore which will likely be held in Sept /Oct period of 2023. This will be a big boost for FMAS as well as for our members.

On things that we need to look into
1. We need to attract a younger group of members and to have a succession plan. We are strategizing on this matter and will have a subcommittee to drive this initiative and have the appointed 2nd Deputy President to likely run with this.

2. Due to the COVID-19 pandemic, we are facing difficulties to network physically among our members because of the COVID-19 restrictions and rules. We are looking into how we can adapt and utilised a speed networking apps to help and to try to know each other better. This will definitely benefit the younger and newer members.

I would also like to remind all members that we all have a part to play with the Association.
It is clear that FMAS plays an important role between the Regulators, the Institutions and you, the industry participants can make the difference. FMAS need your support to continue to make the difference in Flying the Flag higher.

This year, the association is turning 50 years old having been registered in 1972 with the ROS.
“Happy 50th anniversary to FMAS.”

In closing , I would like to thank,

  • AFMF Chairperson Mr Samuel Koh, AFMF Vice chairperson Ms Sneha Sanghvi and the AFMF subcommittee for spearheading the AFMF for successfully organising the event.
  • To CG21 Chairperson Mr Leng Hoe Lon and the CG21 committee for driving the charity event to a great success.
  • To Mr Kenneth Kan and the Education subcommittee team for driving the education programs and bringing in revenue.
  • I would like to thank both Mr Marc Bonnici, chairperson of the membership subcommittee and Ms Sabrina Tan, Chairperson of Women@FMAS, for the great work done with their subcommittees. We are truly grateful for the time and effort contributed.

It now leaves me to thank all my fellow members of the FMAS Executive Committee, our Honorary Advisors and the Staff for their support, commitments, and dedication.

Thank you.

Stay Resilient.

Andrew Ng

Financial Markets Association of Singapore

171 Tras Street #03-179, Union Building
Singapore 079025

+65 6732 0430

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