Economist, Centennial Asia Advisors

Nigel Chiang

Centennial Asia Advisors deliver timely and accurate economic and political analysis to investors, focused on anticipating key turning points that affect the client’s interests in the Asia-Pacific region. Clients include public agencies and central banks, as well as fund managers and investment banks. The company draws strength from its flexibility to tailor products to fit client’s specific interests. It provides detailed macro-economic forecasts, scenario analysis and timely assessments of how specific major economic and political developments may affect a client’s areas of interest. At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way.

Economist

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Singapore: Unusual Hints of a Major Shift in Policy

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Macroeconomics

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<li>There had been hopes of substantial policy moves in the run-up to Prime Minister Lee Hsien Loong’s National Day Rally speech. Lee did offer several new initiatives but they fell short of our hopes for decisive moves to transform the economy. </li>
<li>Lee noted that, having brought the pandemic under control and achieved one of the most impressive vaccination programmes in the world, his government would shift the emphasis of policy from pandemic control to re-opening the economy. However, the model for further economic development he outlined was similar to what Singapore has pursued for decades.</li>
<li>Similarly, the initiatives he announced to assist low-wage earners were incremental rather than transformative. Existing schemes, for government to supplement low-wage workers’ earnings and to raise wages through skills training and productivity gains will be expanded. A nudge would be given to wages through a government-mandated floor to wages paid to Singaporeans by firms seeking to employ foreign workers. On our calculations, while many Singaporeans will see improved earnings, the net benefit to the lower-income groups will be relatively small.</li>
</ul>


There had been hopes of substantial policy moves in the run-up to Prime Minister Lee Hsien Loong’s National Day Rally speech. Lee did offer several new initiatives but they fell short of our hopes for decisive moves to transform the economy. 
Lee noted that, having brought the pandemic under control and achieved one of the most impressive vaccination programmes in the world, his government would shift the emphasis of policy from pandemic control to re-opening the economy. However, the model for further economic development he outlined was similar to what Singapore has pursued for decades.
Similarly, the initiatives he announced to assist low-wage earners were incremental rather than transformative. Existing schemes, for government to supplement low-wage workers’ earnings and to raise wages through skills training and productivity gains will be expanded. A nudge would be given to wages through a government-mandated floor to wages paid to Singaporeans by firms seeking to employ foreign workers. On our calculations, while many Singaporeans will see improved earnings, the net benefit to the lower-income groups will be relatively small.


Singapore: Policymakers Choose to Play It Safe in Key Address