It’s a tiny dot on the map, smaller than the state of Rhode Island. Singapore may be small, but over the past four decades it has proven that geographic size does not matter. This country is a giant in Emerging Asia.
I’m making another trip to Asia today, and my first stop is Singapore.
Every time I arrive in Singapore, this city-state’s economic achievements never cease to amaze me. Initiatives set in motion 10 years ago to transform Singapore into a global city and diversify its economy are now paying off. It’s currently one of the world’s fastest growing economies, with a strong, stable currency, reasonable market valuations, and a financial sector that’s one of the most robust in the world.
I will be speaking at an investors forum expected to draw several thousand attendees hosted by OCBC. Nouriel Roubini, Dr. Doom, will be speaking as well and he and I will be together during a question and answer session with attendees. Should be very interesting.
In the aftermath of the financial crisis, savvy investors are looking for bank stability and quality rather than high-growth, margined companies. These desirable qualities can be found in Singapore’s banks.
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Stephen Studd | Photographer's Choice | Getty Images Singapore |
The top three banks, OCBC, Development Bank of Singapore, and United Overseas Bank are well established and positioned to reap the benefits of regional growth.
And the philosophy of senior management appears to embrace conservative practices. In fact, OCBC was recently named in a banking survey as the safest bank in the world. Additionally, it's innovative and relationship based practices have enabled the bank to increase its market share in this very competitive region. Such is the respect that the financial community has for select Asian regional banks.
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