Markets and economies aside, the ties between countries have been shaped for decades by the hallowed ranks of Colombo Plan scholars who have taken up key roles in Singapore’s government and business. They were followed by the legions of younger graduates of Monash, Melbourne Sydney and even The University of Western Australia over at Perth, who take on the mantle of bridging the Australian dream to be part of Asia through Singapore.
Last week, I made my first visit to Sydney in more than a decade. While the main reason was to attend an impact investment summit, I was equally curious to see what the economic and financial hub of Down Under would look like, especially after China’s curbs on wine, beef, iron and coal imports, no thanks to Australia’s over-eagerness to form the “A” in the three-way security pact Aukus.
For decades, Australia, with its famed Goldilocks economy powered by bountiful reserves of commodities, is a favourite investment destination for Singapore. Just look at our listed companies on the Singapore Exchange (SGX:S68
) (SGX) — from Singapore Telecommunications (SGX:Z77) (Singtel (SGX:Z74) ) and Keppel Infrastructure Trust (SGX:A7RU) to Frasers Logistics Commercial Trust and SLB Development(SGX:1J0) . Plenty of individuals and private investments have similarly made big bets there too.
