The Independent Singapore News MASâ Ravi Menon: Minimum wage can be considered to uplift those with lowest income For a âtruly inclusive societyâ to be built, Mr Menon said, this requires âa value system that places the welfare of our fellow human beings alongside our own." FB screengrab: Institute of Policy Studies - IPS Share - Advertisement - Singapore â The managing director of the Monetary Authority of Singapore floated the possibility of having a minimum wage to help those with the smallest incomes although he warned it would not do much to address income inequality. Mr Menon emphasised that the rationale behind imposing a minimum wage is âto help lift the wages of those at the bottom of the income distribution.â