Speech by Senior Minister of State, Ministry of Law and Ministry of Transport, Mr Murali Pillai SC, at Trade for Good 2025 by Maybank Securities, 28 August 2025

Mr Alvin Lee
Country Chief Executive Officer,
Chief Executive Officer, Maybank Singapore Limited and
Chief Executive Officer, Malayan Banking Berhad Singapore

Mr Aditya Laroia
Chief Executive Officer, Maybank Securities Singapore

Distinguished guests, ladies and gentlemen.

1. A very good evening to all of you. Before I go into my speech proper, can I congratulate Alvin for a very well-delivered and thought-provoking speech. What you said about banks not just driving economies but also shaping societies is something very profound, and I do hope that more banks will adopt that approach. What you and your colleagues are doing here today is something that resonates with me. Some of you may know that I had been in practice as a lawyer for 20 past years, and just gone into full-time politics a year ago. And I found my journey as a lawyer enhanced because of my pro bono work from the outset, so that I do not become too cynical too early. And that is the tendency, if you just deal with the work, day in, day out. But when you touch lives, it is certainly very different. And here we have the representatives of beneficiaries whose lives we may touch. So, congratulations.

2. The timing of today’s event is particularly significant. Just a few weeks ago, we celebrated SG60 – a milestone that marks not just decades of independence, but a pivotal moment for reflection and renewal. And with Forward SG, it is an opportunity for us to refresh Singapore’s social compact and chart our path forward together.

3. As we write the next chapter of our Singapore Story together, our aim is clear – to build a stronger sense of identity and solidarity as Singaporeans. In our increasingly diverse society, we must work harder to strengthen our sense of kinship and community. As our Prime Minister recently emphasised during the National Day Rally, we must be a “We-First” society. Because when we put “we” before “me”, when those who have succeeded help uplift those around them, both the “we” and “me” can thrive and flourish. We do not want a society where people, especially the indigent and vulnerable, are left to fend for themselves. Instead, we want every Singaporean to feel a stake in our shared future, knowing that when the whole is strong, each of us becomes stronger too. And if you subscribe to a utilitarian point of view, this makes eminent sense as well, because for us to do business, we need stability, and there will be no stability if the society is fractured. So it makes perfect business sense as well.

4. This vision of shared responsibility, powered by robust partnerships, needs strong foundations to succeed. The Rule of Law, championed by our Founding Fathers since independence, has been the bedrock of our nation’s transformation. At the Ministry of Law, we are committed to strengthening our legal frameworks to enable different sectors of society to collaborate with confidence, creating an environment where partnerships flourish and collective action thrives.

5. The Maybank Momentum Grant exemplifies this collaborative spirit. It shows how corporate philanthropy, supported by robust legal frameworks, can create meaningful impact in our community. This is especially vital as we tackle increasingly complex social challenges that require solutions from all sectors of society. And recently we added one extra: vaping with etomidate – another complexity. When businesses like Maybank Securities operate with certainty and transparency, they can extend their influence beyond commercial success to transform lives and uplift communities. Through the Maybank Momentum Grant, we see how the financial sector can also be a powerful force for social good.

6. I have several other examples, which I would like to highlight now. Engineering Good is strengthening their digital literacy programmes, ensuring lower-income families are not left behind in our digital future. O’Joy, another beneficiary, is enhancing their digital version of their Health-Oriented Ageing programme, training senior volunteers to support their peers and expanding their psychosocial care services for older Singaporeans. And New Life Stories is establishing a new social service centre, tripling their capacity to support children of incarcerated parents and break the cycle of intergenerational incarceration.

7. These initiatives showcase the power of shared responsibility. Building a better Singapore is not just about government action, it requires everyone’s active participation. When private sector resources combine with community expertise, and when strong legal frameworks enable effective governance, we create enduring partnerships that can tackle our social challenges more effectively.

8. Looking ahead, we must continue strengthening these partnerships. Each organisation here brings unique strengths that, when combined, creates solutions greater than any of us could achieve alone. This is how we will work together towards our vision of Singapore as a “City of Good”, not just through individual efforts, but through sustained collaboration that multiplies our collective impact.

9. The path ahead calls for all of us – government, businesses, community organisations, and fellow citizens – to each of us to do our part for the “we”. Together, we can realise our vision of a City of Good where every Singaporean can thrive, and I look forward to the positive change we can create together.

10. Thank you very much for your attention.

Last updated on 28 August 2025