Minister Tan See Leng on Singapore's energy plans at SIEW 2026 | Full speech

The energy-related dispute between Singapore and Indonesia could become dangerous if its escalation is not promptly and effectively contained by both nations—yet that is not the worst of it.<br>Indonesia’s &quot;single-gate&quot; export policy, set to take effect on January 1, 2027, carries far more serious implications for Singapore.<br>We hope the Singaporean government will refrain from populist maneuvers that could prove sensitive to bilateral relations between the two nations. It is possible that Indonesia is keeping a very close watch—remaining highly alert—including toward the major financial backers who might be leveraged to cause trouble for Indonesia.<br><br>AI Overview :<br><br>How significant will the impact of Indonesia’s single-window export policy—set to take effect on January 1, 2027—be on Singapore’s GDP?<br><br>Although the total macroeconomic percentage of GDP loss has yet to be determined, the impact of the policy implemented through the state-owned enterprise (SOE) PT Danantara Sumberdaya Indonesia (PT DSI) as of June 2026 can be specifically mapped across the following sectors:<br><br><br>1. Immediate Impact on the Commodities Stock Market in Singapore<br><br>When this policy was announced in mid-2026, the shares of several major Indonesian palm oil and commodity companies—which are either listed on or headquartered in the Singapore Exchange (SGX)—experienced severe volatility:<br>• First Resources Ltd: Plunged by up to 28%.<br>• MP Evans Group: Corrected downward by 24.2%.<br>• AEP Plantation: Fell by 21%.<br>• Golden Agri-Resources: Slumped by 18%.<br>• Wilmar International Ltd: Declined by 9.36%.<br><br>2. The Trade Sector and Its Foreign Exchange Flows<br><br>The &quot;single-gate&quot; export policy focuses on three nationally strategic commodities: palm oil (crude palm oil/CPO), coal, and ferroalloys.<br><br>• Closing the &quot;Under-Invoicing&quot; Loophole: For decades, various parties have exploited intermediary trading companies based in Singapore to route their financial transactions. The government uncovered a case of palm oil under-invoicing in which exports to Singapore were recorded at only USD 2.6 million, while the actual payment from the global importer reached USD 4.2 million—meaning 57% of the transaction value remained offshore.<br><br>• Singaporean Banking Liquidity: With the implementation of stricter regulations on Export Proceeds (Devisa Hasil Ekspor/DHE), the influx of fresh capital—which private exporters previously parked directly in Singapore’s financial hub—is now being redirected into Indonesia’s domestic banking system.

This is a never ending story with many blank spaces below. Agenda given but without how to resolve the issues, with many speeches within Speeches only achieved the Ministers motives of being a grandeur speaker but objective to take action to resolve the issues vanished into virtually and to keep it alive more speeches are needed.