By Yantoultra Ngui
SINGAPORE (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)
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