I didn't know about Singapore tightening their credit licences,...

I didn't know about Singapore tightening their credit licences, thanks for sharing mate! Definitely an interesting space to be keeping a close eye on

Depending on one's view on regulation - it could be viewed as a pain and hinderance on growth with increased compliance and cost. Or, on the flip side (my personal view) regulation is necessary to maintain the integrity and ethical standards of the industry with an added bonus of increased barrier to entry which may potentially increase one's economic moat