Speech by Senior Minister of State Low Yen Ling at the Launch Event of the Centre for Enterprise Financing Advisory

1. Good morning, everyone. It is my pleasure to join you today for the official launch of the Centre for Enterprise Financing Advisory (CEFA). It is wonderful to see many familiar faces here this morning – from business owners and leaders in financial institutions, to professional consultancy firms and key partners across the enterprise ecosystem. Your presence reflects our collective commitment to building a strong and resilient enterprise community in Singapore.

2. Singapore's small and medium-sized enterprises (SMEs) are the backbone of our economy. SMEs drive growth and create good jobs for people in Singapore. Supporting SMEs as they grow, transform, and internationalise is therefore a key priority for the Government. The environment that our enterprises operate in today is increasingly complex. Global economic conditions remain uncertain. Trade dynamics are shifting. Cost pressures, market volatility, and geopolitical developments have added new layers of risk and complexity to business planning.

3. The Government's approach is clear. We are committed to helping Singapore enterprises build deep capabilities, not only to manage near-term headwinds, but also to emerge stronger, more competitive, and better positioned for long-term growth. To achieve this, we are supporting enterprises across the full range of their needs, including internationalisation, research and innovation and business expansion.

4. Financing is central to these needs and is critical to business growth. Without access to the right financing at the right time, even promising business plans can stall. But with the range of financing options available, enterprises may not always know where to start, or how to tap these options effectively. This is where CEFA comes in. It is designed to close this gap by advising enterprises on suitable financing options, and supporting them through their different stages of growth.

Introducing CEFA — and How It Feeds into This Strategy

5. The Singapore Business Federation (SBF), in partnership with Enterprise Singapore (EnterpriseSG), established CEFA with a clear mission to strengthen enterprises’ financing capabilities. How will CEFA do this?

6. First, by enhancing businesses’ financial readiness. What is financial readiness? Financial readiness means building strong financial fundamentals, sound governance, and a clear understanding of one's financial position before financing is needed. This can help businesses secure financing on more favourable terms.

7. Through CEFA's advisory services, enterprises can work with advisors to assess your financial health, identify key gaps in areas such as cash flow discipline, financial reporting and risk management. They can then take practical steps to strengthen their fundamentals. Strong financial readiness does more than improve bankability. It also strengthens decision-making, risk management, and overall business sustainability.

8. Second, CEFA helps broaden financing options. Once enterprises are financially ready, they are better positioned to navigate a wider range of financing pathways. Today, enterprises have access to more than traditional bank loans. Other options include asset-based lending, receivables financing, private equity, private credit, and capital market instruments, each suited to different growth stages and business needs.

9. CEFA helps enterprises understand these options and the trade-offs involved. This includes not only the availability of capital, but also the implications for control, risk, and long-term outcomes. The goal is to help enterprises access financing tools that best support their growth needs.

   1. Allow me to share a practical example of how enterprises can leverage different financing pathways to support long-term growth. During the Asian Financial Crisis in 1998, HMI Medical invested in and obtained a management contract to run a 300-bed hospital in Malaysia. In less than 30 years, it has grown into a regional healthcare platform supporting close to four million patients lives per year across Singapore, Malaysia, and the wider region.

   2. A key part of this journey was financial discipline and a willingness to broaden its financing options. HMI Medical moved beyond traditional bank lending to partner with private equity investors and private credit providers at different stages of growth. This enabled HMI Medical to fund new businesses, hospital expansions, and more than 15 mergers and acquisitions over the last decade. HMI Medical’s story shows how disciplined financing, combined with a clear growth strategy and a broad ecosystem of financing partners, can unlock new opportunities and drive sustainable growth.

10. The third way CEFA will support enterprises is through ecosystem partnerships and capability building. No single institution can address the full spectrum of enterprises' financing needs on its own. CEFA is therefore built on a collaborative model, bringing together partners across the enterprise and financing ecosystem to better support businesses at different stages of growth. With support from the Association of Banks in Singapore (ABS), CEFA is currently working with eight financial institutions, DBS, OCBC, UOB, HSBC, Standard Chartered, CIMB, Maybank, and RHB. It will continue to expand its network of financiers and explore potential collaboration opportunities to better support enterprises.

11. Apart from engaging financiers, CEFA also partners professional and training institutions, including RSM and ISCA Academy, to strengthen enterprises' financial capabilities. Together, these partnerships give enterprises access to more holistic support across financing, advisory services, and capability development.

12. CEFA will also offer enterprises a suite of practical tools and resources, including a financial management toolkit revamped by RSM Singapore, to better support their evolving needs. In the second half of 2026, CEFA will partner ISCA Academy to run courses on effective cash flow management and practical financial forecasting with AI. CEFA and the SBF Business Institute are also in discussions to launch more enterprise financing courses soon.

13. Taken together, CEFA represents a significant strengthening of the support infrastructure for Singapore enterprises. It is practical, ecosystem-driven, and closely aligned with the Government's strategy of building deep enterprise capabilities for the long term.

Closing

14. The financing landscape for enterprises is complex and evolving. Even though the landscape is not so straightforward, it does not need to be a barrier as long as enterprises are well-prepared with financial readiness, well-advised with a full range of financing options, and closely connected in a vibrant enterprise ecosystem.

15. On behalf of SBF and EnterpriseSG, we encourage all enterprises here today to engage CEFA early, not only when funding is urgently needed, but as part of your ongoing growth and transformation journey. The earlier you build your financial readiness, the better positioned you will be to seize potential opportunities. You can contact CEFA to schedule a consultation with the advisory team, attend its capability-building programmes or check out its website.

16. With that, I wish CEFA every success in its mission to help Singapore enterprises finance their future with confidence. I have no doubt that with the strong partnerships behind it, CEFA will make a positive difference to the enterprises it serves. Congratulations to CEFA! Thank you.