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Credit scheme
'Raising the interest rate will only help banks to increase their margin and increase the cost to SMEs.'
MR CHEANG SAI KEONG: 'I can understand the Government's rationale for scaling back the credit assistance to small and medium-sized enterprises (SMEs) in view of improving market conditions. However, I am surprised that the minimum interest rate has been revised upwards from 5 per cent to 5.5 per cent. Raising the interest rate will only help banks to increase their margin and increase the cost to SMEs. The real interest rate for the Singapore dollar is very low today.'
Phone book
'Raising the interest rate will only help banks to increase their margin and increase the cost to SMEs.'
MR CHEANG SAI KEONG: 'I can understand the Government's rationale for scaling back the credit assistance to small and medium-sized enterprises (SMEs) in view of improving market conditions. However, I am surprised that the minimum interest rate has been revised upwards from 5 per cent to 5.5 per cent. Raising the interest rate will only help banks to increase their margin and increase the cost to SMEs. The real interest rate for the Singapore dollar is very low today.'
Phone book