President’s Message – July 2025

Date: July 1, 2025

Dear members,

As we approach the second half of 2025 the global economic landscape remains complex and uncertain, perhaps even more so than at the start of the year.

Geopolitical tensions mainly in the Middle East brought on by the Israel-Iran conflict, the still-present threat of tariffs by the US, the ongoing war between Russia and Ukraine and the likelihood of heightened inflation from surging oil prices have created both volatility but also opportunity in the markets.

For investors, such an uncertain outlook calls for investment discipline, exercising prudence in your decision-making and focusing on the long-term rather than try and indulge in short-term trading.

I would remind everyone of the importance of investing with a clear understanding of the macroeconomic environment, the inflation and interest rate outlook, the need to focus on earnings whilst always bearing in mind one’s financial goals and risk profile.

I would also remind everyone of this piece advice from Benjamin Graham, widely known as the “father of value investing’’ which is: “people who invest make money for themselves, people who speculate make money for their brokers’’.

At SIAS we take very seriously our responsibility to equip investors with the knowledge and confidence to properly invest their hard-earned money. To this end, we are continuously strengthening and updating our investor education programmes to ensure they are timely and relevant.

From our regular seminars, both physical and online, to our webinars that connect listed companies with the investing public, our goal has always been to enable investors to stay informed and able to make the best possible decisions for themselves.

Many of these sessions are free and I encourage you to sign up for them as they are conducted by well-known, experienced and respected investment personalities.

We are also expanding our outreach to younger investors through digital channels and interactive platforms so as to ensure financial education starts early so that more individuals can enjoy a head start in their investing journey.

Last year SIAS celebrated its 25^th anniversary – a significant milestone by any measure. Over the past quarter of a century, SIAS has been privileged to serve as Singapore’s leading advocate for good corporate governance and fair and equal treatment for all investors.

As part of our celebrations, we were proud to launch a commemorative book “Boardroom Knockout’’ that chronicles how SIAS fights for shareholder rights and in so doing has become a trusted voice in Singapore’s financial eco-system. It will be a useful guide for you as an investor.

We also hosted a series of events, including investor forums, community engagements and policy dialogues, all aimed at reinforcing our commitment to transparent markets and responsible investing.

As we look ahead, I am confident that with your support SIAS will continue to evolve and thrive for the next 25 years.

In closing, I would like to quote Albert Einstein, who said: “in the midst of every crisis lies a great opportunity’’.

Rest assured that SIAS will always be there to help you identify where those opportunities are.

Thank you.

David Gerald
Founder, President & CEO, SIAS