Businesses and Financial Institutions Strengthen Continuity Plans Against Power and Digital Disruptions as Part of Exercise SG Ready 2026

Senior Minister of State for Defence Mr Zaqy Mohamad visited two business-led Total Defence (TD) Tabletop Exercises (TTX) on 2 February 2026. Held as part of Exercise SG Ready 2026, these TTX aimed to strengthen businesses' preparedness for prolonged power disruptions and degraded digital connectivity.

A total of 78 companies convened at Mapletree Business City for a TTX co-organised by the Singapore Business Federation (SBF) and Nexus, MINDEF. The event highlighted the interconnected nature of modern business risks to prolonged power disruptions and degraded digital connectivity. Private sector partners stepped up to conduct various elements of the event, with Strongkeep facilitating a TTX on responses to power and cyber disruptions, and RSM Singapore sharing lessons learnt from an internal IT Disaster Recovery exercise conducted earlier in the year.

Speaking at the exercise, Mr Zaqy emphasised that readiness must be an ongoing commitment rather than a one-off effort. In his opening remarks, he said, "In today’s operating environment, resilience is not just a government responsibility. Total Defence is a Whole-of-Society responsibility, and businesses like all of you play a critical role. Through Exercise SG Ready, MINDEF and our partners aim to empower organisations to think through plausible disruptions, review business continuity plans, and strengthen resilience against hybrid threats and disruptions."

Mr Zaqy also noted the prevalence of information threats and the challenges they pose for Singapore, underscoring the need for vigilance, verification of sources and Psychological Defence. He said, “Information and credibility can be manufactured, context can be stripped away, and the content circulated into our information space can affect the stability of our society, our trust in government, and the stability of our economy and our country. For the business and investor community – many of you here – I think we all depend on a stable, secure Singapore to drive progress, and that is why many investors come here… I hope that this does not erode the confidence and trust in how Singapore is a global hub.”

Mr Kok Ping Soon, Chief Executive of SBF said, “SBF strongly supports ESR as it plays a crucial role in encouraging businesses to enhance their preparedness for unforeseen disruptions. The exercise provides a valuable platform for businesses to engage in discussions on the potential impact of various crises and threats, including prolonged power disruptions and degraded digital connectivity, on their operations, as well as to review and refine their contingency plans." Beyond the TTX, SBF also partnered MINDEF/SAF to conduct the ESR phishing exercise for its members for the second time. More than 100 Small and Medium Enterprises (SME) and large companies from manufacturing, wholesale, retail trade, and construction sectors will be participating in the phishing exercise.

Mr Zaqy also visited Quantedge Capital in the afternoon where Quantedge Capital and Amova Asset Management co-organised a sector-focused business continuity TTX that brought together senior leadership from 13 established investment management companies^[1] with operations in Singapore. Facilitated by RSM Singapore, the TTX focused on responses to prolonged power disruptions and disrupted digital connectivity. The event also included a panel discussion moderated by Quantedge Capital, involving speakers from SGX Group, The Alternative Investment Management Association (AIMA), and Nexus, MINDEF.

Mr Suhaimi Zainul Abidin, CEO Quantedge Capital said, “This is an important joint exercise focusing on the resilience of investment management firms in Singapore. We run complex trading and financial operations which affect many segments of society, and we are operating in an increasingly complex risk environment. These firms have come together to learn from one another, so that we, individually and as an industry, will be more prepared for all manner of disruptions. Such readiness is critical for Singapore as a global investment and wealth management hub. I would urge all businesses, regardless of industry and size, to regularly review and test their business continuity plans. Singapore’s overall resilience in times of crisis depends on all of us playing our part”.

Ms Eleanor Seet, President and Head of Asia ex-Japan, Amova Asset Management said, “Today’s hyper connected and technology dependent markets amplify both opportunity and risk, demanding business continuity plans that are not only robust, but deeply resilient. As long-term stewards of capital, we must increasingly anticipate disruptions that push the boundaries of conventional preparedness. By co-hosting this exercise with Quantedge and our industry partners, we aim to foster leadership engagement and cross institution collaboration—strengthening the collective readiness and confidence of the fund management community.”

About Exercise SG Ready 2026

Exercise SG Ready 2026 is co-led by MINDEF and our key partners; the Infocomm Media Development Authority (IMDA), Energy Market Authority (EMA), the People’s Association (PA) and the Singapore Civil Defence Force (SCDF). Exercise SG Ready 2026 will return for its third edition, which will be held from 1 February to 15 February at various locations on different dates across the island. Set against the backdrop of geopolitical uncertainties and hybrid threats, the exercise aims to encourage everyone to PLAN for disruptions, PREPARE to respond, and PLAY YOUR PART to keep Singapore strong. Organisations, schools and units from educational, community, businesses and government sectors will carry out different disruption or preparedness activities across the two-week exercise period to strengthen their business continuity plans for degraded digital connectivity and prolonged power outages. The aim of Exercise SG Ready is to encourage individuals, communities and businesses to reflect on the question: "Are you ready for disruptions?” and put Total Defence into action through contingency plans. More information on the exercise can be found on the Exercise SG Ready website (https://go.gov.sg/exercisesgready).

About Nexus

Nexus is responsible for Total Defence and National Education, and seeks to strengthen Singaporeans’ resolve to defend Singapore, protect our unity and safeguard our way of life. Nexus initiates, supports and organises programmes in collaboration with partners in the Public, People and Private sectors to engage Singaporeans in creative and meaningful ways, to strengthen bonds among Singaporeans and their commitment to Singapore. More information at https://www.mindef.gov.sg/about-us/community-engagement/nexus/.

^[1] The participating companies are Quantedge Capital, Amova Asset Management, Aberdeen Investments, AIA Investment Management, Astignes Capital, Avanda Investment Management, Capital Group, Dymon Asia, Fidelity International, Franklin Templeton, HSBC Asset Management, Jain Global, and Seviora Group.