Singapore rolls out tax rebates, $3.7 billion program to boost stock market
The statement offers more details on measures Singapore's equities market review group announced on February 13 to revive its stock market that has come under pressure from a dearth of mega listings and softer trading liquidity.
«We aim to have these measures lay the foundations for a sustainable and well functioning equities market, and we think if we take the proposed measures together, they will hopefully make an impact,» Singapore's second finance minister Chee Hong Tat said in a briefing on Friday.
Singapore's central bank, the Monetary Authority of Singapore or MAS, set up the review group chaired by Chee in August last year to recommend measures to strengthen equities market development in the country.
The review group said in a statement that MAS and the Financial Sector Development Fund will launch the S$5 billion program, called Equity Market Development Program, which will draw in investments from other investors over time.
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