Singapore's Firsts: Investment using CPF

Step back to 1978 and witness the landmark Singapore Bus Services (SBS) IPO - a pivotal moment when Singaporeans could first use their CPF savings to invest in shares. This revolutionary move transformed the investment landscape, granting ordinary Singaporeans newfound access to the stock market. Join Xing and Jaan as they explore the excitement and challenges of this groundbreaking event, including the distinctive allocation criteria set by Deputy Prime Minister Dr. Goh Keng Swee, which prioritised shares for those without cars. The success of the SBS IPO not only marked a significant shift but also laid the groundwork for future financial innovations.

Fast forward to 1985, when DBS is poised to lead Singapore’s first international IPO by a local firm: the Singapore Airlines (SIA) IPO. Building on the lessons learned from the SBS IPO, DBS’s leadership and strategic acumen were vital in navigating this high-profile transaction amid the Pan-El crisis. Discover how DBS’s innovative approach and resilience during the SIA IPO highlighted their growing expertise and dedication to shaping Singapore’s financial future.

 

Profile

Tan Soo Nan joined the bank in 1971 and left in 1998. Over his 27-year tenure, he played a crucial role in numerous pioneering achievements, including the transformative IPOs that ignited Singapore's financial market. His contributions were instrumental in driving these groundbreaking achievements.

 

Find out more about our heritage: https://www.dbs.com/dbs-heritage/stories.html

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