The parade is usually in celebration of the birthdays of the Chinese deities or in some cases the procession of the Goddess of Mercy (Guanyin) as part of the Chinese New Year festivities. 

The term Chingay itself originated from the Chinese communities of Southeast Asia, which is a phonetic equivalent of both the Chinese words “真藝” (zhēnyì) which means “true art” in the Penang version, and “妝藝” (zhuāngyì) which means “a decorated miniature stage” or float in the Singapore version. PAYM (People’s Association Youth Movement) has been an active contributor to chingay in Singapore.

In Malaysia, the parade took place in two states, Penang and Johor.

In Penang, The Chingay Parade traces its origins to a float decorating competition held in Penang in 1905. This practice of float decoration spread to the rest of Malaya by the 1960s, and eventually became associated with the Chinese New Year. In the pursuit of ensuring the perpetual existence of Chingay, Chinese community in Malaysia worked hand in hand to call for the enthusiasts of various areas in forming the liaison committee of Penang Chingay in 1960s. A Chingay parade is now held annually within the city of George Town every December.

In Johor, the Chingay parade in Johor is held annually by the Johor Bahru Old Chinese Temple on the 21st day of the first month of the Lunar New Year since 1870. It is joined by the five main clans in the state, which are Cantonese, Hainanese, Hakka, Hoklo and Teochew.

In Singapore, the parade was first held in 1973. Since Singapore had issued a ban on fireworks in 1972, causing the ceremony organizers to worry about the festive atmosphere, came up with a way to combine the normal parade featuring the signature floats, acrobatic acts, lion and dragon dances, stilt walkers, and the like, to bring back some cheer to the general public. By 1977, when Malay and Indian groups were in the performances, it was expanded further and gradually became a symbol of cultural diversity in Singapore. Each year the parade has its own theme, with the theme for 2022 is “Ignite Our Dreams” as well as the 50th anniversary of Chingay in Singapore.

According to Wikipedia.