Official word from the Monetary Authority of Singapore:
http://www.mas.gov.sg/~/media/ProjectUbin/Project%20Ubin%20%20SGD%20on%20Distributed%20Ledger.pdf
It's a 44 page PDF, if there are some crypto-number junkies that would like to comb through it to get additional detail.
Thanks for the comment @ruscion 👌
Absolutely, @jacor! Hope it helps.