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Reward 20.5 B to GIC
- Thread starter fivestars
- Start date
We plan to help you but you are not qualify for the funding :p
SINGAPORE: The government has announced new initiatives to help businesses obtain funding amid the current credit crunch. To encourage banks to lend to firms, it will take on a greater share of the risks involved.
The move is aimed at helping more companies get access to credit, and not just the small- and medium-sized enterprises.
For local companies like Lucky Joint Construction, any government help is certainly welcome. During these tough economic times, banks have cut back significantly on lending.
Under a new Special Risk-Sharing Initiative, the recently launched Bridging Loan Programme will be enhanced.
The programme, which was announced in November last year, will now cater to loans of up to S$5 million, up from the current S$500,000.
SINGAPORE: The government has announced new initiatives to help businesses obtain funding amid the current credit crunch. To encourage banks to lend to firms, it will take on a greater share of the risks involved.
The move is aimed at helping more companies get access to credit, and not just the small- and medium-sized enterprises.
For local companies like Lucky Joint Construction, any government help is certainly welcome. During these tough economic times, banks have cut back significantly on lending.
Under a new Special Risk-Sharing Initiative, the recently launched Bridging Loan Programme will be enhanced.
The programme, which was announced in November last year, will now cater to loans of up to S$5 million, up from the current S$500,000.
Sorry. only GIC, GLC, Gov and Gov related company employed Singaporean. SME, you need to send back FT and reemploy local. If not you will not benefit on the Jobs Credit. 
SINGAPORE: The government will introduce a Jobs Credit which will encourage businesses to preserve jobs as much as possible in the downturn, said Finance Minister Tharman Shanmugaratnam in his Budget Speech to Parliament on Thursday.
He said: "The Jobs Credit will provide every employer with a cash grant to reduce their costs of employing Singaporean workers during the crisis.
"The Jobs Credit that an employer receives will comprise 12 per cent of the first S$2,500 of the wages of each employer who is on the CPF payroll. It will be given in four quarterly payments, with each payment being based on the workers who are with the employer at the time.
"This will therefore provide incentive for employers to retain their local workers... Employers will receive the first payment at the end of March this year... The Jobs Credit of 12 per cent of wages will be equivalent to a 9 percentage point CPF cut." - CNA
SINGAPORE: The government will introduce a Jobs Credit which will encourage businesses to preserve jobs as much as possible in the downturn, said Finance Minister Tharman Shanmugaratnam in his Budget Speech to Parliament on Thursday.
He said: "The Jobs Credit will provide every employer with a cash grant to reduce their costs of employing Singaporean workers during the crisis.
"The Jobs Credit that an employer receives will comprise 12 per cent of the first S$2,500 of the wages of each employer who is on the CPF payroll. It will be given in four quarterly payments, with each payment being based on the workers who are with the employer at the time.
"This will therefore provide incentive for employers to retain their local workers... Employers will receive the first payment at the end of March this year... The Jobs Credit of 12 per cent of wages will be equivalent to a 9 percentage point CPF cut." - CNA
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