The move marked the country’s usage of its law to combat misinformation for the first time after the legislation came into force last month.
Brad Bowyer, a member of the Progress Singapore Party, was ordered to correct a November 13 Facebook post in which he questioned the independence of state-linked investment vehicle Temasek and sovereign wealth fund GIC.
The government's fact-checking site said the government does not influence, let alone direct, the individual investment decisions made by Temasek and GIC.
After that, Bowyer issued a correction notice to his original post.
The law, passed by the country’s parliament in May, gives government ministers the power to decide what is fake news and to take action in the name of protecting the public interest. Individuals who violate the law can be fined up to SGD100,000 (US$73,200) or jailed up to 10 years, or both, while companies can be slapped with fines of up to SGD1 million.