MHA said that as a designated PSP, Mr Chan is required to disclose annually political donations of S$10,000 (US$7,400) or more that he receives and accepts, foreign affiliations and migration benefits to the registrar.
“These are transparency requirements to help detect foreign interference,” it added.
Mr Chan may appeal to the Minister for Home Affairs against the registrar’s decision.
When asked by CNA if he intends to appeal, Mr Chan declined comment.
MHA said earlier this month that Mr Chan, who immigrated from Hong Kong in 1990, is the first person to be served a notice of intended designation under FICA provisions which came into force in December last year.
The ministry previously said the registrar assessed that Mr Chan “has shown susceptibility to be influenced by foreign actors, and willingness to advance their interests”.
Mr Chan heads the Hong Kong Chamber of Commerce in Singapore and has been the president of the Kowloon Club since 2011. He is also the managing director of three property firms.
He has also been involved in grassroots and fundraising efforts in Singapore for over a decade, and was a patron of the Kampong Chai Chee Citizens’ Consultative Committee and the Bukit Timah Community Club Management Committee.
He stepped down from all grassroots appointments after MHA’s announcement on Feb 2.