Singapore announces tax rebates, $3.7 billion program to boost stock market

NTT

21/02/2025 12:00

By Yantoultra Ngui
       SINGAPORE, Feb 21 (Reuters) - Singapore announced on
Friday a set of measures to rejuvenate its equities market,
including a 20% tax rebate for primary listings and a S$5
billion ($3.74 billion) program that focuses on investing in
domestic stocks.
    The announcement offers more details on the first set of
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. 
   
    
($1 = 1.3368 Singapore dollars)

 (Reporting by Yantoultra Ngui; Editing by Devika Syamnath)
 ((Yantoultra.Ngui@thomsonreuters.com;))