The AIC advocates a “light-touch” regulatory approach that as much as possible leverages on existing legislation and frameworks, in order to surgically eliminate the externalities that affect the STA industry. This way, we can get to a “win-win” situation where STA hosts, guests and neighbours can exist together in a mutually-beneficial relationship.
We caution against over-regulation and particularly against penalizing Singapore-based platforms, given the high likelihood that STA activity could be driven offshore and underground. Rather than artificially engender impossible-to-cross barriers to entry for STAs across the board at the outset, the government should consider allowing STAs to operate unless and until residents voice their disapproval by wielding their MCST vote.
We hope that URA will see our STA platform members as your partners in growing the STA industry together in a healthy and sustainable manner.