Question: Singapore brokers, a sunset industry?

A recent question from a Reuters correspondent posed to me: "Whether Singapore brokers are a sunset industry?". Some extract from my reply:

"The business has definitely declined over the years for SGX market... "

"From my perspective, the issue is mainly the problem with the govt / regulators which started many years ago..."

"...new brokerages... Some of them don't even offer trading in SGX, just US markets, like E*Trade, OptionsXpress and ThinkorSwim..."

"While the brokerage industry business is declining overall, it is not really a sunset yet as evidenced by the new... brokerages. The appetite is still there, but not everyone is able to understand, position themselves and have the ability to do so effectively."

Additional comments:

I did a business & spreadsheet analysis for a potential business deal to buyout a local brokerage a few years back, I have also worked in a pioneering role for an established foreign brokerage setting up operations locally and a business exploration role for an European based brokerage. In short, surviving and prospering in the current industry as a broker is not easy.