5 Dollars

The Straits Settlements — a Crown Colony comprising Singapore, Penang, and Malacca — operated its own currency independently of the broader Malay states throughout this period. These notes were issued under the Currency Ordinance of 1899, which transferred note-issuing authority from the mercantile banks to the colonial government, a move resisted by Chartered Bank and Hongkong & Shanghai Banking Corporation for years before it took effect.

De La Rue's involvement guaranteed consistent security printing across the lengthy 24-year span of this issue. The series is notoriously difficult to find in used grades, as many examples were damaged by the humidity and salt air inherent to the port environment.