Our Chairman

Mr Neil Parekh

Chairman, SICCI (15 June 2022 – to date)

Group Deputy Chairman, GFTN

Vice Chairman, Asia Pacific, for Sumitomo Mitsui Banking Corporation (SMBC) Group

 

Neil serves as the Group Deputy Chairman and Board Director at the Global Finance & Technology Network (GFTN). He is also Vice Chairman, Asia Pacific for Sumitomo Mitsui Banking Corporation (SMBC) Group. Until recently, he was Partner and Head of Asia and Australia at Tikehau Capital. He previously held the position of CEO, Asia at National Australia Bank.

 

Neil is a Council Member of the Singapore Business Federation and the Singapore Institute of Directors and serves as an Advisory Board Member of the James Cook University, Singapore, and the Singapore Fintech Association. He also serves as a Senior Adviser to the Atlantic Council in Washington DC. and is a Fellow of the Singapore Institute of Directors as well as the Australian Institute of Company Directors.

 

He served as a Nominated Member of Parliament in Singapore from 2023 to 2025. He has also served on the Governing Council of the Association of Banks in Singapore and as Chief Executive Officer of Pegasus Asia, a company listed on the Singapore Stock Exchange.

Parliamentary Speeches

Parliamentary Q&A

Filed for the next available sitting
  • Question for Oral Answer – Mr Neil Parekh Nimil Rajnikant: To ask the Prime Minister and Minister for Finance what is the Government’s assessment of the need to continue with the Non-Constituency Member of Parliament scheme in view of the greater availability of social media platforms and other media sources for Singaporeans to express their views either in support of or against Government policies.
  • Question for Oral Answer – Mr Neil Parekh Nimil Rajnikant: To ask the Prime Minister and Minister for Finance (a) what plans does Singapore have to deal with potential increases in defence budgets; and (b) what plans does the Government have to balance future budgets to accommodate significantly increased defence spending without increasing the contribution from our reserves or by increasing direct and indirect taxes.
  • Question for Oral Answer – Mr Neil Parekh Nimil Rajnikant: To ask the Deputy Prime Minister and Minister for Trade and Industry in view of the on-going ceasefire talks between Russia and Ukraine, what plans does the Government have to position Singapore-based companies to take advantage of the emerging opportunities for the redevelopment of these two countries at the end of the war.
Questions from past sittings

To ask the Prime Minister and Minister for Finance what further policy initiatives can the Government introduce to enhance public understanding and support for immigration as a strategic imperative for Singapore’s sustained economic growth and national security.

To ask the Minister for Defence (a) in what ways have the various overseas training detachments abroad helped to sharpen the training and warfare skills of the men and women of the Singapore Armed Forces in land-scarce Singapore; and (b) in what ways have these overseas training detachments boosted bilateral defence ties between Singapore and the host country providing the training facilities.

To ask the Minister for Foreign Affairs (a) what does Singapore consider the key priorities for the Association of Southeast Asian Nations (ASEAN) in its relations with the United States (US) under the new Trump administration, bearing in mind the US President’s absence from ASEAN summits during his first term as President; and (b) what messages will Singapore convey to its US counterparts during the ASEAN country dialogues and at the East Asia Summit under the chairmanship of Malaysia.

To ask the Minister for Manpower (a) what is the Ministry’s assessment of Singaporeans’ current preparedness for retiring gracefully and with dignity; (b) whether the Government can consider using recent budget surpluses to provide a one-time top-up of $24,000 to the CPF Retirement Account (RA) for Singaporeans aged 55 years and above and to do the same for all reaching that age in future; and ( c ) whether the Government has looked at ways to increase the annual interest rate on RA to 6%.

To ask the Deputy Prime Minister and Minister for Trade and Industry (a) what steps has the Government taken to encourage small and medium enterprises (SMEs) to protect their intellectual property (IP) business interests for the Singapore and global markets; (b) what issues have the SMEs faced in their efforts to protect their IP business interests; and ( c ) what roles can trade associations and chambers of commerce play in assisting SMEs in this area.

To ask the Minister for Health (a) how have the recent changes made by insurers to their Integrated Shield Plans (IPs) affected the out-of-pocket expenses and access to healthcare services for policyholders; (b) what measures are being taken to ensure that the interests of policyholders are adequately safeguarded amidst these changes; and ( c ) whether any further measures are being explored to mitigate issues related to the affordability and accessibility of coverage under IPs

To ask the Minister for Digital Development and Information what steps are being taken to ensure that services to the Singaporean public are not affected by the recent spate of leadership changes at SingPost.

To ask the Minister for Defence (a) whether the Ministry has conducted surveys on the level of awareness of the importance of Total Defence amongst Singaporeans; (b) if so, whether an update can be provided on the findings of such surveys; and (c ) what role can the Digital Defence pillar of Total Defence play in the overall efforts to educate Singaporeans about protecting themselves in the cyberspace and in particular against scammers.

To ask the Minister for Culture, Community and Youth whether the Ministry has initiated any further actions within the purview of the Co-operative Societies Act since Allianz Europe BV’s (Allianz) withdrawal of its offer to acquire a 51 percent stake of Income Insurance Limited (Income) on 16 December 2024; and (b) what are the lessons learnt by the Government from the proposed sale of a controlling stake in Income to Allianz and the decision by Allianz to withdraw its offer.

To ask the Minister for Manpower (a) what is the take-up rate of the Overseas Networks & Expertise Pass (One Pass) since 2 January 2024; (b) which sectors are these One Pass holders employed in; (c ) how many of these One Pass holders are new entrants to Singapore and granted the One Pass not from a conversion of an existing employment pass; and (d) what are some of the key improvements that the Ministry is considering to better utilise One Pass and improve employment for Singaporeans.

To ask the Minister for Foreign Affairs (a) whether an assessment of Singapore-US bilateral ties under the Biden administration can be given; (b) what are the key achievements of Singapore-US relations during the tenure of the Biden government; (c ) how will Singapore continue building on ties with the US under President Trump; (d) why does US engagement in the Asia-Pacific remain critical for the region’s prosperity, security and growth; and (e) how does Singapore envisage US-China ties under the new Trump administration.

To ask the Minister for Sustainability and the Environment (a) whether an update can be given on the status of the Water Agreement signed between Singapore and Malaysia that is set to expire in 2061; (b) how much water per annum does Singapore continue to receive under this agreement; and ( c ) what further efforts has the Government undertaken to ensure that the remaining three National Taps continue to meet the water requirements of Singapore, as newer housing estates are being developed and more global companies seek investment opportunities in Singapore

To ask the Minister for Education (a) what has been the take-up rates and usage patterns for the recently announced $4,000 SkillsFuture Credit (SKC) top-up for Singaporeans aged 40 and above; and (b) beyond the existing measures, what new initiatives is SkillsFuture Singapore planning to implement to ensure that the course offerings remain relevant to emerging economic trends and industry needs, and to boost the usage of SKC.

To ask the Minister for Digital Development and Information (a) what are the causes for the recent spate of telecommunications disruptions that Singaporeans have had to face, the latest being a disruption to Singtel services on 24 October 2024; and (b) what steps are being taken by the telecommunications service providers and the Government agencies to address the root causes of these disruptions.

To ask the Minister for Defence (a) what has been the overall response rate of operationally-ready NSmen to the both silent and open mobilisation exercises; (b) how have these mobilisation exercises been useful in preparing the NSmen to be mobilised under the Ministry’s scenario planning drills related to the on-going developments in the Middle East and Europe; and ( c ) to what extent is realism injected in the deployment exercises in these mobilisation exercises.

To ask the Deputy Prime Minister and Minister for Trade and Industry (a) what is the Ministry’s assessment of the state of economic cooperation and bilateral trade relations between Singapore and the United States in the past five years; and (b) what are the particular areas in which the Government will like to grow economic and trade ties further under the new Trump administration.

To ask the Minister for Foreign Affairs in view of the Malaysian Parliament’s debate on the Royal Commission of Inquiry report on the affairs of Pedra Branca (a) whether its deliberations on the report will have any impact on the International Court of Justice’s decision on the bilateral dispute between Singapore and Malaysia on Pedra Branca; (b) what is the current state of bilateral matters surrounding Pedra Branca; and ( c ) whether there are any outstanding issues which the Ministry has to resolve with its Malaysian counterparts.

To ask the Minister for Transport (a) what are the reasons that led the Public Transport Council to recommend a fare revision for bus and train fares to take effect at the end of December 2024; (b) what steps have the transport operators taken thus far to improve their service levels to commuters in light of fare revisions in the last three to five years; and ( c ) what are the big-ticket cost factors that the public transport operators have to watch closely in their operations.

To ask the Minister for Defence (a) whether the Ministry can provide details on the safety audits and review processes that are regularly conducted by the SAF Inspector-General’s Office at training camps; (b) what are the common safety lapses that continue to occur during the SAF’s training and the reasons behind such occurrences and; ( c ) what steps have been put in place to ensure such lapses do not recur and the quality and standard of SAF’s training is not compromised.

To ask the Deputy Prime Minister and Minister for Trade and Industry (a) which are some of the potential business sectors in Johor that Malaysia businesses are keen to collaborate with Singapore businesses under the Johor-Singapore Special Economic Zone (JS-SEZ); and (b) what are some of the infrastructural and operational areas in the JSEZ that continue to be of concern to Singapore businesses.

To ask the Minister for Manpower (a) whether an update can be provided on the integration programmes and the briefings conducted for foreign workers of all nationalities to ensure that they are apprised of the importance of racial and religious harmony in Singapore before their employment; and (b) whether more steps will be taken to educate foreign workers living in dormitories on racial harmony and in the language that they understand best after the incident of a Bangladeshi preacher who illegally preached at a dormitory on 9 August 2024.

To ask the Minister for Health (a) what efforts are being taken by the Ministry and its agencies to reduce the gap between the health-span and lifespan of Singaporeans; (b) whether, in the Ministry’s assessment, employers have a role towards improving the health-span of Singaporeans; and ( c ) if so, how.

To ask the Minister for Home Affairs (a) whether the Ministry will be taking steps to ensure that dormitory owners comply with all rules and regulations before permitting foreign speakers from conducting talks or programmes to migrant workers residing in their dormitories; (b) to date, how many cases of foreign visitors who have conducted an event without valid permits have been detected in foreign worker dormitories; and (c ) what are some of the penalties in place to deal with the dormitory owners when such incidents occur.

To ask the Prime Minister and Minister for Finance (a) what are some of the key takeaways for the Government from the results of Singlife’s Financial Freedom Index 2024 survey; (b) what are some of the key concerns in the area of ensuring financial freedom and stability especially amongst the younger generation of Singaporeans; and (c) what steps can the community and business organisations take to enhance public education on financial stability for Singaporeans.

To ask the Minister for Manpower a) what are some of the common concerns employers and workers have expressed regarding the Tripartite Guidelines on Flexible Work Arrangements Requests (TG-FWAR) following the various dialogue sessions held on this issue recently; b) whether further steps need to be taken to allay the concerns of employers and workers; c) if so, what are they; and d) whether it is on track for the TG-FWAR to come into effect on 1 December 2024.

To ask the Minister for Digital Development and Information (a) what are the key considerations that have led to the renaming of the Ministry to Ministry of Digital Development and Information; (b) in what ways will the renaming of the Ministry give urgency to the national effort towards digital development; and (c) whether the Ministry will engage with chambers of commerce and trade associations on how they can contribute towards achieving the objectives behind the Ministry’s name change.

To ask the Deputy Prime Minister and Minister for Trade and Industry (a) whether an update can be provided on the foreign direct investment commitments that the Singapore Economic Development Board has received in the first six months of 2024; (b) whether Singapore is on track for its investment targets for 2024; and (c) what will be some of the important and special factors for Singapore to uphold to ensure that the country remains an attractive investment destination and good jobs are created in the future economy.

To ask the Minister for Health (a) what is the status of COVID-19 related vaccination amongst the population especially as to how many seniors have gone beyond their fourth vaccination to date; (b) what are the reasons cited by Singaporeans for not having taken their additional booster shots; and (c) what steps will be taken to educate citizens on the importance of the additional boosters in view of current global concerns about the virus and the recent spike of COVID-19 cases locally.

To ask the Minister for Defence (a) what are the key findings of the investigation into the recent crash of an RSAF F-16 jet at Tengah Air Base; (b) what is the Ministry’s assessment of the steps taken by the pilot during the course of the entire incident; (c) what are the Ministry’s and RSAF’s overall assessment of the operational capability of the F-16 jets; and (d) whether there are any particular concerns resulting from the Tengah Air Base incident.

To ask the Minister for Transport (a) what have been the key concerns of owners of electric vehicles (EVs) on the use and viability of these vehicles on Singapore roads; (b) what steps does the Ministry intend to take to enhance its public education programme on adopting EVs; and (c) how Singapore is fairing thus far compared to developed economies in the transition into EVs.

To ask the Minister for Manpower (a) what are common misconceptions that still prevail about the closure of the CPF Special Account for members aged 55 years and above from early 2025; (b) what steps will be taken to clear these doubts; and (c) what role can the trade associations, chambers of commerce and tripartite partners play to address the concerns of the workforce and employers on this matter.

To ask the Minister for Defence (a) as part of the National Education programme, what have been some of the latest topics which Nexus, a platform that seeks to deepen Singaporeans’ commitment to Singapore, has developed as resource packages; (b) who are the beneficiaries of these resource packages; (c) whether any resource package has been developed about the current on-going conflict between Israel and Hamas; and (d) if so, what are the key messages conveyed in this resource package and whether they are conveyed to National Servicemen.

To ask the Minister for Foreign Affairs regarding key countries which Singapore has partners in for Singapore’s economic development, what steps is the Ministry taking to improve the quality and breadth of its senior diplomatic staff in these countries to ensure that they are well equipped with the knowledge of economic, financial and trade issues in a deglobalising world so that Singapore’s interest remains paramount at all times.

To ask the Minister for Trade and Industry (a) whether he can provide an update on the progress made in the five mutually beneficial areas of collaboration that are identified in the first inaugural meeting of the India-Singapore Ministerial Roundtable in September 2022; and (b) what is the Ministry’s assessment on the role of the business community, in particular the Chambers of Commerce and trade associations, to achieve the desired outcomes laid down at the meeting.

In view of the ongoing situation and the progress of implementing the “Five-Point Consensus” in Myanmar, what is the Ministry’s assessment of the impact on ASEAN’s unity and image, and what alternative steps does ASEAN have if Myanmar refuses to implement the Five-Point Consensus?

What is the Ministry’s overall view of the job market in the next few months, whether the Ministry has data on the number of employees who were laid off by a large e-commerce company before consulting the workers’ union, and whether the Ministry will consider regulating non-compete clauses in employment contracts.

With regard to the Memorandum of Understanding (MOU) on a Johor-Singapore Special Economic Zone, what is the Ministry’s assessment on how trade associations and chambers of commerce from Singapore and Johor can contribute to help both countries achieve the agreed goals.

Ministry’s assessment of the public sector’s achievements of the targets to go green following the launch of the GreenGov.SG initiative, yardsticks used to assess the greening efforts of the private sector, and the immediate areas that SMEs can address in their efforts to go green.

Take up rate of SkillsFuture credit

Expected performance of Singapore’s economy in 2023 and areas for growth prognosis in 2024