What happened Yesterday, the Monetary Authority of Singapore (MAS) announced that it will not extend dividend restrictions on local banks and finance companies. Recall that a year ago, MAS made a surprise announcement by calling on the local banks to cap their dividend payments to 60% of what was paid out in 2019. The imposition of this rule was due to the uncertainties created by the pandemic back then and was a pre-emptive measure to ensure the banks remained prudent in the face of a tough economic climate. So what With the global outlook improving, MAS feels that the dividend restrictions are no longer necessary. A month ago, the central bank announced that it would conduct further stress tests on the local banks to assess if the curbs will continue. Singapore’s economy is now expected to continue recovering after posting a 14.3% year on year growth in the second quarter....