When Singapore Inc throws its weight behind something, the effect can be huge. This month this kind of effort was on display as the city hosted a week-long fintech “festival” that involved everyone from the regulator and the city’s biggest banks to tiny start-ups. It attracted thousands of attendees, supporting Singapore’s claim to leadership of the sector in the region.

But away from the headlines and the hype, the city kicked off another debate in the same week on a rather older topic that could yet have as big a bearing on perceptions of the Lion City — that of introducing dual-class listings to the Singapore Exchange.

Proponents, led by bankers and lawyers, argue that dropping Singapore’s one-share-one-vote rule would give it an edge in the region in attracting Asian stars such as Alibaba and global headliners such as Manchester United. Both chose New York over Hong Kong and Singapore because the US was more receptive to their desire to weight voting rights in favour of small groups.