Yes, you may. This would come with a list of regulations. You can use your friend's address as long as it is approved under the Home Office Scheme with URA or HDB. There are lots of rules and criteria to be met. If those conditions are breached, your permit can be revoked. You must not cause any amenity problem to the neighbors. You may also lose privacy as your information is publicly available.
New Company Setup
New Company Setup
Existing Company
New Branch Setup
New Setup
Singapore Bank Account