4 Apr 1998... The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS) held a bilateral meeting on Saturday, 4 April 1998, at the MAS. The HKMA delegation was led by Mr Joseph Yam, Chief Executive, HKMA, while the MAS delegation was headed by Mr Koh Yong Guan, Managing Director, MAS.

Mr Joseph Yam also paid a courtesy call on Chairman, MAS, Deputy Prime Minister Lee Hsien Loong. They discussed ways to increase bilateral co-operation between the two monetary authorities.

The bilateral meeting discussed plans by both Hong Kong and Singapore to further develop their financial sectors. The two delegations also exchanged views on economic and financial developments in the region and their respective economies. The meeting agreed to study possible payment system (Real Time Gross Settlement System) linkages.

This meeting marks the third of a series of annual bilateral meetings held since 1995. It has been instrumental in strengthening co-operation between the HKMA and MAS and illustrates the close ties between the two monetary authorities.