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Hong Kong Singapore Business Association (HSBA) is a part of an international network of 46 Hong Kong Business Associations in 35 countries - The Federation of Hong Kong Business Associations Worldwide

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26th Annual General Meeting (AGM)

Wednesday 16th September 2020 | 4:00 PM to 5:00 PM
Zoom Video-Conferencing Platform

Dear HSBA Members,

Notice is hereby given that the 26th HSBA Annual General Meeting will be held virtually on Wednesday 16 September 2020, from 4pm to 5pm. It will be a Virtual AGM because of the current COVID-19 restrictions.

We will use the Zoom video-conferencing platform for our Virtual AGM. The arrangements for the Virtual AGM are in accordance with the recently enacted COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Registered Societies) Order 2020. The Order states that:

  1. Only HSBA Members may attend the AGM by observing and listening to the proceedings of the meeting by electronic means.
  2. Members would not be able to ask their questions “live” during the Virtual AGM. Instead, they should submit questions to HSBA by email and must reach us by Friday 4 September 2020, 5pm. All substantial and relevant questions will be addressed by the management committee prior to or at the Virtual AGM.
  3. Nomination Form for candidates for Election to be returned to the Secretariat by email to This email address is being protected from spambots. You need JavaScript enabled to view it. or fax to (65) 6538 7167 by Monday 7 September 2020, 5pm. Kindly attach a photo (separately) of the Nominee, with the submission of the Nomination Form.
  4. Nominated candidates for Election to the Management Committee will be listed on the Proxy Form and members should mark their vote on the form and return it no later than Monday 14 September 2020, 5pm. The proxy form will be emailed to the members on Wednesday 9 September 2020.

To attend the AGM, you will need to register by Friday 11 September 2020, 5pm. 
Please register using the link below.

Register for AGM


  • Welcome Address by Chairman Mr Dennis Chiu
  • Welcome Address by President Mr Philip Chan
  • To approve Minutes of last AGM held on 11 June 2019 by Secretary Mr Terry Lee
  • Program Report by Vice President Ms Maple Ye
  • Membership Report by Vice President Ms Mei Reading
  • To approve the Financial Statement for Financial Year 2019 by Treasurer Mr Anthony Kam
  • Appointment of Internal Auditor
  • Election of Management Committee
  • Any other business
  • Closing Address
Yours Sincerely,

Hong Kong-Singapore Business Association

Fight the Virus Together | Support Hong Kong Together

Check out the booklet below to read the measures to support individuals and businesses affected by the novel coronavirus epidemic



Updated Mar.19

Dear Members and friends,

Further to our information yesterday, we would like to share with you more details about the implementation of the new measures which have been effective from 00.00am today.

Compulsory Quarantine of Persons Arriving at Hong Kong from Foreign Places Regulation gazetted

The Government published in the Gazette on March 18 the Compulsory Quarantine of Persons Arriving at Hong Kong from Foreign Places Regulation (Cap. 599E). The Regulation introduces a resolute and rigorous measure to combat the global outbreak of the COVID-19 by imposing compulsory quarantine orders on all persons arriving from all places outside China. The Regulation commenced at 00.00am on March 19 and will take effect for three months. Under the Regulation, all persons having stayed in overseas countries and territories specified by a general notice in the Gazette for any period during the 14 days preceding arrival in Hong Kong, regardless of nationality and travel documents used, will be subject to compulsory quarantine for 14 days.   

For details, please refer to the press release:

Exemption arrangement under Compulsory Quarantine of Persons Arriving at Hong Kong from Foreign Places Regulation

In accordance with section 4(1) of the Regulation, the Chief Secretary for Administration (CS) may exempt any person or categories of people from the quarantine requirement if the CS is satisfied that the person's or persons' entry into Hong Kong are: supplying goods or services required for the normal operation of Hong Kong or the daily needs of the people in Hong Kong; for governmental operation; for the protection of the safety or health of the people of Hong Kong or the handling of public health emergency; or cases of exceptional circumstance that serves the public interest of Hong Kong.

Besides, the CS has exempted the following categories of persons from the quarantine requirement. They include crew members of aircrafts who need to commute to and from foreign places for performance of necessary duties; crew members of goods vessels; government officials carrying out governmental duties; experts, personnel of the academic sectors or of international authorities who are engaged in research and/or provide advice in combating the COVID-19 infection to the HKSAR Government.

For details, please refer to the press release:

Here are some handy links to government websites for your reference:

Website on the Fight Against the Coronavirus

Health Quarantine Arrangements on Inbound Travellers from Overseas

BrandHK Update Page

Hong Kong's Multi-Pronged Response to COVID-19

Please continue to take care. Have a good day.


Updated Mar.18

Dear Members and friends,

In view of the health risks arising from the persistent and rapid increase in the number of COVID-19 cases globally, the Hong Kong Special Administrative Region (HKSAR) Government has made the following announcements based on public health considerations.

Health quarantine arrangements extended to all inbound travellers from overseas

From 00:00:01 on March 19 (Thursday), the Department of Health's Port Health Division officers will issue quarantine orders for compulsory quarantine to people arriving in Hong Kong who have been to all overseas countries/territories in the past 14 days, regardless of whether they are Hong Kong residents.

Meanwhile, the quarantine measures announced earlier for Hong Kong residents returning from Hubei Province in the past 14 days to stay in a quarantine centre for quarantine remain unchanged. Also, quarantine orders will continue to be issued to all people entering Hong Kong from the Mainland, regardless of whether they are Hong Kong residents, demanding them to stay at home or other accommodation for a 14-day compulsory quarantine.

For details, please refer to the press release:

Government issues Red Outbound Travel Alert (OTA) on all overseas countries/territories

The HKSAR Government on March 17 decided to issue the Red OTA on all overseas countries/territories. As the pandemic situation around the world is evolving rapidly, members of the public are strongly urged to adjust their travel plans and avoid any non-essential travel outside Hong Kong. For details, please refer to the press release:

Here are some handy links to government websites for your reference:

Website on the Fight Against the Coronavirus

Health Quarantine Arrangements on Inbound Travellers from Overseas

BrandHK Update Page

Hong Kong's Multi-Pronged Response to COVID-19

Meanwhile, please take care and hope everybody stay healthy.

Best regards,
HKETO, Singapore
Facebook & Instagram: hketosg

HSBA - In support of China and Wuhan fight against Coronavirus!



HSBA 25th Anniversary (18th October 2019, Friday)
Speech by Mr. Dennis Chiu, Chairman of Federation of Hong Kong Business Associations Worldwide, Chairman of Hong Kong – Singapore Business Association

•          Honorable Mr. Chee Hong Tat – Senior Minister of State for Trade and Industry, and Education Singapore
•          HE Hong Xiao Yong, Ambassador Extraordinary, and Plenipotentiary of the People’s Republic of China to Singapore
•          HE Joseph Del Mar Yap – Ambassador of The Republic of Philippines to Singapore
•          Ms. Lynn McDonald – High Commissioner of Canada to Singapore
•          Mr. Law Kin Wai – Director-General, HKETO
•          Mr. Peter Wong – Regional Director, HKTDC (Trade Development Council)
•          Members of Federation of Hong Kong Business Association (HBA) members
•          Members of the Hong Kong – Singapore Business Association (HSBA)

What has HK come to?

Strangers can go for each other's throats – a video shows a middle-aged man who disagreed with protesters, end up becoming the victim when a mob descended on him. Even though he was hurt with blood streaming down his face, a young girl wearing a face mask crept behind and whacked his face with a metal railing.

When volunteer medics came to help, he replied to them, “I don’t need help, let me bleed and die”. In response, a young man filming him shouted: “why don’t you just commit suicide?”

In another instance, a transit passenger (a reporter) in HK airport, wearing a T-shirt “I support HK Police” – was discovered by a mob of protesters who surrounded him and when he realized he was no match, he then shouted, I support HK Police, you can hit me now.

How did we become so polarised?
- Where are the answers?
- What are the ways?
- What does it take?

Professor Wang Gung Wu – when interviewed recently on CNBC mentioned the lack of political experience and leadership skills as the top reason. So far, HK Chief Executives are business-driven and Civil Servants. The problem in HK is both Political and Ideological.

Let me start with a quote:

The farther backward you can look, the farther forward you can see. 
- By Winston Churchill

1. One Country Two System

There is a fundamental fault in this approach, but history tells us that HK under the British Colonial Rule had always been 2 systems for 155 years. Even pre-colonial HK was the entrepot trading hub. Through trade, the business was done differently to better align with the Western structure. The World used HK as a stepping stone to Chin and China used HK as a stepping stone to the World. The 2 systems co-existed! Subject to certain refinements the 2 systems seem compatible.

So what about the One Country? The loss of Hong Kong was a historical embarrassment to China. A 5,000 yrs civilization, was not about to give up its sovereignty on HK and Hong Kong has always been part of Chinese soil.

It is inconceivable for this to be treated otherwise, as any other option is wishful thinking and the unreal demand when you see the American or British flag. I am so saddened by the lack of feelings and knowledge. 

[For those who read The Fall of Beijing, The City Invaded by 8 Foreign Powers, the Japanese Occupation of China especially the Nanjing Massacre. All must be proud of HK’s to return to China in 1997].

2. The Education system here has a “black-hole” or vacuum, a serious weakness in educating the young, the way subjects are taught, how the syllabus is set-up and the lack of integration with China. Subjects are still taught in Cantonese, while people around the World are going to Beijing to learn Mandarin.

In particular, there is the subject of Liberal Studies that became compulsory during the 2009 entrance exam to Universities known as the Hong Kong Diploma of Secondary Education.

The Education Bureau cited certain textbooks “to have misled students and spread hatred and bias”. Beijing was troubled by a statement from Education Chief Minister, Chen Bao Sheng in 2017, who said the rise of pro-independence sentiment in HK was “linked directly” to its education system.

3. The severe housing shortage in HK

60% of HK’s land is zoned green belt. The area is built up at 33%, with only 17% for residential housing [which is less than 10% allocated for residential use]. Total land allocation for private housing is roughly 45%; public housing at about 55%. In terms of affordability, it takes approximately 17 years for young families to save up to purchase a house, whereas comparing many others between 5 to 7 years of working.

Besides, there is another old law to protect the male-descendant of the Villages in New Territories and ensures the male offspring to have a house “丁屋“ Rights which has a direct impact on the use of all lands and supply in overall HK land supplies. The Agricultural land use which is primarily located in New Territories must be re-examined as there are so little “farms” in HK already.


HK has always taken pride in having the “freest” economy in the World. The best way to describe HK economic model as cited by [late Nobel Laureate Milton Friedman] in this book “Free to choose”. It is a Laissez-faire economy with a small Government, leaving the perfect “supply & demand curves” driven by market forces. Hence, there is little or no interference.

Compared to Singapore, with a much more planned and vision L-T driven eco model with an open economy. Both have achieved amazing successes.
[HK$1.83T Reserves approx. US$235 billion];
[SING$392B Reserves approx. US$285 billion].

But perhaps, one side effect is in the rise of inequality. The Gini coefficient has reached its highest in 45 years and the trend is up. In 2018, Hong Kong with a 0.539 Gini Index compared with Singapore at 0.4579.

The average monthly income of the top 10%, is 43.9 times the bottom 10%.

The average monthly income in Hong Kong is close to HK$17,500 which is approx. S$3,125; household income in June 2018 is HK$28,000 and taking an exchange rate of 5.6, comes to approx. $5,000.
[Medium Gross Income in Singapore 2018 (S) $4,437 per month. Household income (S)$9,293].

If the side effect is inequality, then the outcome is disturbing, with the New World Globalization in retreat, nationalism, and more.

Whatever it is, whether is Socialism with Chinese characteristics, or Singapore version of Vision L-T system, HK needs to dig deeper to re-examine and find a better way forward.

Recently, there is a new term calling for Inclusive Capitalism.


While trying to understand what is behind the mounting street violence, thoughts cast back to months of student riots across Europe in the early ’70s.

Look at a recent study led by psychiatrist Leor Zmigrod at Cambridge University exploring the mind-sets of people of the extreme political spectrum. The heart of political polarisation around Donald Trump and the Brexit debate in Britain, which resulted in conflict between the 2 leading political parties.

In the paper “Journal of Experimental Psychology”, similar to football fans (men alone thesis), religious cults and even Triads, any environment that can create people with a cognitively rigid mind is especially attracted to the clarity and certainty response by certain ideologies as in tribal bonding. The power of social media magnifies and reinforces the mentally rigid-tribalism – especially the adrenaline-pumping war game apps that have been lifted from their laptops at home onto HK’s streets.

The second force is what is called the fracture lines. All societies have their differences. But only when the fracture lines created by these differences overlap do divisions in society become entrenched enough to trigger violence or serious stability.


To overcome the challenges of HK today, I would summarize in 3 phases: 

1) Short-Term - at all costs, must return to peace and stability
2) Medium-Term - Housing & Education
3) Long-Term - Integration with China

Chairman's Speech

Executive Committee

Chairman Mr. Dennis Chiu  Far East Consortium International Ltd
President Mr. Philip Chan  Wen Way Investments Pte Ltd
Vice President Ms. Mei Reading Griffin Group International Pte Ltd
Vice President Ms. Maple Ye Jiang Education Group Pte Ltd
Honorary Secretary Mr. Terry Lee Amer International Group Pte Ltd
Honorary Treasurer Mr. Anthony Kam HSBC China (Retired)
EXCO Member Mr. Wilson Chu Bank J Safra Sarasin Ltd
EXCO Member Mr. Chung Ting Fai Chung Ting Fai & Co
EXCO Member Ms. Grace Kong Aladdin Street Singapore
EXCO Member Mr. Adrin Loi Ya Kun International Pte Ltd
EXCO Member Ms. Candy Yan Golf Elite
EXCO Member Ms. Ulrica Au Gioiello
EXCO Member Ms. Corinna Chang Klassique Musik Pte Ltd
Immediate Past President Mr. Dennis Chiu  Far East Consortium International Ltd
Past President Mr. Gary Cheng The Bank of East Asia, Limited. Singapore Branch
Past President Dr. Henry Tay The Hour Glass Limited
Past President Mr. John Chow Wing Tai Properties Investment Limited
Past President Mr. Ron Sim Osim International Limited
Past President Mr. Richard Eu Eu Yan Sang International Limited

The Indonesia-Hong Kong Business Association

The Hong Kong - Malaysia Business Association

Hongkong Chamber of Commerce of the Philippines Inc.

Thai-HongKong Trade Association

Hong Kong Business Association Vietnam

Hong Kong Trade Development Council

Federation of Hong Kong Business Associations Worldwide

Hong Kong Economic and Trade Office in Singapore

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