THE SINGAPORE FUND, INC. INVESTMENT MANAGER CERTIFICATION I, Roy Phua, Portfolio Manager of DBS Asset Management (the "Manager"), certify to the best of my knowledge that: 1. I am responsible for providing The Singapore Fund, Inc. (the "Fund") with certain information identified in the N- CSR report that is attached as Schedule A hereto, which information I understand is used by the Fund in compiling its financial statements and preparing its annual and semi-annual reports. 2. Such information is generated through the use of practices and procedures that are widely accepted in the investment management industry and have a sound basis in investment management fundamentals. The information is provided to the Fund only after sufficient due diligence has been conducted. 3. I am further responsible for establishing and maintaining disclosure controls and procedures for the Manager, such disclosure controls and procedures have been designed to ensure that the information identified in the schedule is made known to me, and I have evaluated the effectiveness of the Manager's disclosure controls and procedures within 90 days prior to the filing date of the Report. Dated: December 29, 2003 /s/ Roy Phua Roy Phua Portfolio Manager NYA 614332.3