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Singapore appointed 2 idiots to lead the task force.
- Thread starter LaoTze
- Start date
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knn
those in the task force
what good schools are they from?
Lawrence was from Tanjong Katong Secondary School and VJC.
OYK was from Maris Stella and RJC.
GKY was from Catholic High and NJC.
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from straitstimes.com:
SINGAPORE - Singapore will continue to address the downsides of an open economy as it strives to stay open to the world and bring benefits to its people, said Finance Minister Lawrence Wong on Tuesday (Sept 14).
He acknowledged in Parliament that globalisation is not an "unmitigated good", and that while being a hub economy brings benefits to Singapore, it also comes with certain costs, including how some people will be displaced from their jobs.
But Mr Wong said that the right approach for the country is not to impede progress by holding onto every job even as it becomes obsolete, but to instead work hard to protect every worker and help those who are displaced.
"In this way, we can grow the economic pie for everyone, and yet ensure that the cost of globalisation and openness does not fall unfairly on the displaced workers," he said.
This has been the approach that the People's Action Party (PAP) and the National Trades Union Congress (NTUC) have taken.
Mr Wong said that over the past decade, Singapore has had retrenchments of around 60,000 resident professionals, managers, executives and technicians (PMETs) but has seen a much bigger increase of around 300,000 in PMET employment for residents.
Mr Wong added: "On an overall basis, the pluses of what we've been able to achieve far outweigh the negatives."
During a speech he gave to move one of two motions on jobs and Singapore's foreign talent policy on Tuesday, the minister outlined three ways that the Republic deals with the downsides of staying open.
First, the Government continually updates its manpower policies and rules to manage the flow of work pass holders, and to ensure that they are of the right calibre.
Singapore reviews and updates the criteria for work pass holders here over time, Mr Wong said, noting in his speech that last year, the qualifying salary for the Employment Pass was raised twice.
Second, the country upholds fair employment practices and takes a strong stance against discrimination at the workplace.
Mr Wong noted that some Singaporeans have experienced this, and the Government recognises their pain and frustrations.
He stressed that when agencies pick up problematic indicators in a firm, it is placed on a watch list for closer scrutiny, and the issues it has are dealt with quietly but effectively.
The minister also pointed out that Singapore will enshrine into law current workplace anti-discrimination guidelines, as announced by Prime Minister Lee Hsien Loong during last month's National Day Rally.
Calling this a major philosophical shift, Mr Wong said the Government had deliberated over this for some time and had hesitated in the past due to concerns that it would lead to a more litigious and confrontational process, and that it could sour workplace relations.
"But after hearing from the labour movement and NTUC MPs, and consulting the tripartite partners, we decided we could manage these concerns, and that it was time to change," said Mr Wong.
He added that while the majority of companies do behave responsibly, unfair practices occur from time to time. No effort will be spared in investigating every case, and there will be consequences for those guilty of such offences.
Third, Singapore deals with the downsides of staying open by doing everything it can to help those who are displaced.
Mr Wong noted that for every person who loses his job, the unemployment rate is 100 per cent, and that such a loss is disorienting and disabling.
It is for these reasons that Singapore has been investing heavily in SkillsFuture, Singapore's national lifelong learning movement, to help its citizens stay employable.
The Government is paying special attention to mid-career PMETs, to equip them with relevant skills and to find new jobs, said Mr Wong.
Covid-19 has given Singapore greater impetus to accelerate the work to help these displaced workers.
Mr Wong said that efforts are under way to raise productivity and wages across all sectors through industry transformation efforts, as well as to improve employment and training support, especially for mid-career and mature workers, to move into new areas.
The Government is doing all it can to help displaced workers get back into jobs to minimise their time being unemployed and to find a job that matches their skills and experience, as well as to provide training for skills needed for a new role.
As the economy recovers from being hit by Covid-19, Mr Wong said that some of the Government's current schemes, which are temporary incentives for jobs, will be tapered down - but he assured that Singapore is not going back to how it was pre-Covid-19.
A permanent shift in support levels with more help for workers here can be expected, especially as the nation enters a period of greater volatility and disruption, he added.
Mr Wong told the House that his ministry is working through the details of this shift, to make sure the changes that Singapore makes are financially stable.
"I promise all Singaporeans - especially those who are displaced: You will never be alone," he said.
"We will continue to invest in your capabilities and skills; help you stay competitive; and walk this journey with you through the rest of your careers."
S'pore will continue to address downsides of open economy, help displaced workers: Lawrence Wong
SINGAPORE - Singapore will continue to address the downsides of an open economy as it strives to stay open to the world and bring benefits to its people, said Finance Minister Lawrence Wong on Tuesday (Sept 14).
He acknowledged in Parliament that globalisation is not an "unmitigated good", and that while being a hub economy brings benefits to Singapore, it also comes with certain costs, including how some people will be displaced from their jobs.
But Mr Wong said that the right approach for the country is not to impede progress by holding onto every job even as it becomes obsolete, but to instead work hard to protect every worker and help those who are displaced.
"In this way, we can grow the economic pie for everyone, and yet ensure that the cost of globalisation and openness does not fall unfairly on the displaced workers," he said.
This has been the approach that the People's Action Party (PAP) and the National Trades Union Congress (NTUC) have taken.
Mr Wong said that over the past decade, Singapore has had retrenchments of around 60,000 resident professionals, managers, executives and technicians (PMETs) but has seen a much bigger increase of around 300,000 in PMET employment for residents.
Mr Wong added: "On an overall basis, the pluses of what we've been able to achieve far outweigh the negatives."
During a speech he gave to move one of two motions on jobs and Singapore's foreign talent policy on Tuesday, the minister outlined three ways that the Republic deals with the downsides of staying open.
First, the Government continually updates its manpower policies and rules to manage the flow of work pass holders, and to ensure that they are of the right calibre.
Singapore reviews and updates the criteria for work pass holders here over time, Mr Wong said, noting in his speech that last year, the qualifying salary for the Employment Pass was raised twice.
Second, the country upholds fair employment practices and takes a strong stance against discrimination at the workplace.
Mr Wong noted that some Singaporeans have experienced this, and the Government recognises their pain and frustrations.
He stressed that when agencies pick up problematic indicators in a firm, it is placed on a watch list for closer scrutiny, and the issues it has are dealt with quietly but effectively.
The minister also pointed out that Singapore will enshrine into law current workplace anti-discrimination guidelines, as announced by Prime Minister Lee Hsien Loong during last month's National Day Rally.
Calling this a major philosophical shift, Mr Wong said the Government had deliberated over this for some time and had hesitated in the past due to concerns that it would lead to a more litigious and confrontational process, and that it could sour workplace relations.
"But after hearing from the labour movement and NTUC MPs, and consulting the tripartite partners, we decided we could manage these concerns, and that it was time to change," said Mr Wong.
He added that while the majority of companies do behave responsibly, unfair practices occur from time to time. No effort will be spared in investigating every case, and there will be consequences for those guilty of such offences.
Third, Singapore deals with the downsides of staying open by doing everything it can to help those who are displaced.
Mr Wong noted that for every person who loses his job, the unemployment rate is 100 per cent, and that such a loss is disorienting and disabling.
It is for these reasons that Singapore has been investing heavily in SkillsFuture, Singapore's national lifelong learning movement, to help its citizens stay employable.
The Government is paying special attention to mid-career PMETs, to equip them with relevant skills and to find new jobs, said Mr Wong.
Covid-19 has given Singapore greater impetus to accelerate the work to help these displaced workers.
Mr Wong said that efforts are under way to raise productivity and wages across all sectors through industry transformation efforts, as well as to improve employment and training support, especially for mid-career and mature workers, to move into new areas.
The Government is doing all it can to help displaced workers get back into jobs to minimise their time being unemployed and to find a job that matches their skills and experience, as well as to provide training for skills needed for a new role.
As the economy recovers from being hit by Covid-19, Mr Wong said that some of the Government's current schemes, which are temporary incentives for jobs, will be tapered down - but he assured that Singapore is not going back to how it was pre-Covid-19.
A permanent shift in support levels with more help for workers here can be expected, especially as the nation enters a period of greater volatility and disruption, he added.
Mr Wong told the House that his ministry is working through the details of this shift, to make sure the changes that Singapore makes are financially stable.
"I promise all Singaporeans - especially those who are displaced: You will never be alone," he said.
"We will continue to invest in your capabilities and skills; help you stay competitive; and walk this journey with you through the rest of your careers."
- Joined
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- 113
from straitstimes.com:
SINGAPORE - Singapore's small- and medium-sized enterprises (SMEs) should seek to capture new growth opportunities in a world that is unlikely to return soon to the days before Covid-19 struck, said Trade and Industry Minister Gan Kim Yong on Wednesday (Sept 15).
In order to better capture these opportunities, companies also need to develop a future-ready workforce to ensure business sustainability in the long run. They must also remain outward-looking and stay engaged with the global economy, he said in his opening remarks at a virtual conference organised by the Singapore Chinese Chamber of Commerce and Industry (SCCCI).
An annual Business Survey shared by the SCCCI at the event showed that a majority of Singapore companies, mostly SMEs, view rising costs, availability of suitable manpower, adaptation to Covid-19 safe management measures and transforming or pivoting to growth areas as top business challenges.
Mr Gan said that while it has been a challenging period, businesses can find new opportunities for transformation and growth - even amid the crisis.
"Sustaining a business is a marathon, and these are particularly difficult times," Mr Gan said at the SME Conference and Infocomm Commerce Conference 2021.
"But if we change our perspective to proactively identify new growth opportunities, prioritise the development of our people and renew our efforts to engage the global economy, I am confident we will do well in a post-pandemic world."
He referred to recommendations by the Emerging Stronger Taskforce, which envisions businesses here tapping new growth areas by digitalising supply chains, growing smart commerce through online-to-offline partnerships, increasing productivity through robotics and finding solutions to meet new sustainability goals.
Still, while many businesses have managed to successfully connect with their partners and consumers through innovative virtual means during the pandemic, the Government recognises that relationships cannot always remain online, Mr Gan said.
"As Singapore transitions to living with Covid-19, we are looking to ease our border restrictions to facilitate business and international travel, and regain our air and maritime connectivity."
The minister said that business transformation, competitiveness and the capacity to capture new opportunities hinges on Singapore's ability to invest in its people and create a more motivated and resilient workforce.
"People are at the core of our business. We need to equip them with the right skills to take on new or redesigned job scopes to meet future demands."
The Singapore government has in place a suite of measures to support business transformation and help companies upskill and reskill their workforce, including the Enhanced Training Support for SMEs that provides subsidies to sponsor employees to attend training courses funded by SkillsFuture Singapore.
Businesses can also leverage the SkillsFuture Enterprise Credit to invest in their workforce development. Meanwhile, the Enterprise Leadership for Transformation supports leaders of promising SMEs in developing their capabilities.
Moreover, the expansion of the Progressive Wage Model reflects the Government's commitment to grow wages in line with productivity, he said.
The SCCCI survey showed that 67.5 per cent of respondents experienced rising manpower costs, including the cost of foreign workers, while 63.1 per cent were unable to recruit local staff with the needed skills and 49.5 per cent said that it has become more difficult to get foreign workers.
In response to the manpower challenges, 70.2 per cent of survey respondents said that they automated or digitised their business processes to cut down on their staff requirements.
SMEs urged to seek new opportunities, develop workforce to survive Covid-19
SINGAPORE - Singapore's small- and medium-sized enterprises (SMEs) should seek to capture new growth opportunities in a world that is unlikely to return soon to the days before Covid-19 struck, said Trade and Industry Minister Gan Kim Yong on Wednesday (Sept 15).
In order to better capture these opportunities, companies also need to develop a future-ready workforce to ensure business sustainability in the long run. They must also remain outward-looking and stay engaged with the global economy, he said in his opening remarks at a virtual conference organised by the Singapore Chinese Chamber of Commerce and Industry (SCCCI).
An annual Business Survey shared by the SCCCI at the event showed that a majority of Singapore companies, mostly SMEs, view rising costs, availability of suitable manpower, adaptation to Covid-19 safe management measures and transforming or pivoting to growth areas as top business challenges.
Mr Gan said that while it has been a challenging period, businesses can find new opportunities for transformation and growth - even amid the crisis.
"Sustaining a business is a marathon, and these are particularly difficult times," Mr Gan said at the SME Conference and Infocomm Commerce Conference 2021.
"But if we change our perspective to proactively identify new growth opportunities, prioritise the development of our people and renew our efforts to engage the global economy, I am confident we will do well in a post-pandemic world."
He referred to recommendations by the Emerging Stronger Taskforce, which envisions businesses here tapping new growth areas by digitalising supply chains, growing smart commerce through online-to-offline partnerships, increasing productivity through robotics and finding solutions to meet new sustainability goals.
Still, while many businesses have managed to successfully connect with their partners and consumers through innovative virtual means during the pandemic, the Government recognises that relationships cannot always remain online, Mr Gan said.
"As Singapore transitions to living with Covid-19, we are looking to ease our border restrictions to facilitate business and international travel, and regain our air and maritime connectivity."
The minister said that business transformation, competitiveness and the capacity to capture new opportunities hinges on Singapore's ability to invest in its people and create a more motivated and resilient workforce.
"People are at the core of our business. We need to equip them with the right skills to take on new or redesigned job scopes to meet future demands."
The Singapore government has in place a suite of measures to support business transformation and help companies upskill and reskill their workforce, including the Enhanced Training Support for SMEs that provides subsidies to sponsor employees to attend training courses funded by SkillsFuture Singapore.
Businesses can also leverage the SkillsFuture Enterprise Credit to invest in their workforce development. Meanwhile, the Enterprise Leadership for Transformation supports leaders of promising SMEs in developing their capabilities.
Moreover, the expansion of the Progressive Wage Model reflects the Government's commitment to grow wages in line with productivity, he said.
The SCCCI survey showed that 67.5 per cent of respondents experienced rising manpower costs, including the cost of foreign workers, while 63.1 per cent were unable to recruit local staff with the needed skills and 49.5 per cent said that it has become more difficult to get foreign workers.
In response to the manpower challenges, 70.2 per cent of survey respondents said that they automated or digitised their business processes to cut down on their staff requirements.
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Really, why are ministers going round telling businessmen how to run their business after Covid has hit us for two years.
- Joined
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- 113
Lawrence is concerned about ICU capacity.
We’ve explained before that we are watching the ICU cases closely to ensure our hospital system is not overwhelmed.
Some have told me that based on our high vaccine coverage, and the current ICU figure of 14, we don’t have to worry. But in fact the ICU numbers can change very quickly and we cannot afford to be complacent. So I thought it might be useful to clarify some points:
First, the vaccine does confer excellent protection against severe illness. But we also know that the protection is not 100%. Notwithstanding our high vaccine coverage, MOH data shows that about 0.2% of infected cases are at risk of needing ICU care.
Second, 0.2% may seem small, but when it’s applied on a large and exponentially rising base of infected persons, the numbers in ICU can grow very quickly (don’t forget that the length of time in ICU for a person can be more than 2 weeks). Remember also that the 0.2% figure can change over time. For example, if we have more seniors or unvaccinated persons who are infected, then the percentage of infected persons who need ICU care will be much higher than 0.2%.
This is why we must never assume our ICU figures will continue to stay low, or that our ICU capacity will never be put to the test. In that regard, the coming 1-2 weeks will be critical, as we monitor the trajectory of the infection and our overall hospital/ICU situation.
Meanwhile you can do your part to slow down the transmission, and protect yourself and your loved ones. Scale back your non-essential social activities, especially if you are a senior or are living with seniors. Continue to practice good hygiene and comply with safe management measures. And test yourself regularly to make sure you are free of the virus, and do not spread it to the people around you.
Lawrence Wong
23 hrs ·We’ve explained before that we are watching the ICU cases closely to ensure our hospital system is not overwhelmed.
Some have told me that based on our high vaccine coverage, and the current ICU figure of 14, we don’t have to worry. But in fact the ICU numbers can change very quickly and we cannot afford to be complacent. So I thought it might be useful to clarify some points:
First, the vaccine does confer excellent protection against severe illness. But we also know that the protection is not 100%. Notwithstanding our high vaccine coverage, MOH data shows that about 0.2% of infected cases are at risk of needing ICU care.
Second, 0.2% may seem small, but when it’s applied on a large and exponentially rising base of infected persons, the numbers in ICU can grow very quickly (don’t forget that the length of time in ICU for a person can be more than 2 weeks). Remember also that the 0.2% figure can change over time. For example, if we have more seniors or unvaccinated persons who are infected, then the percentage of infected persons who need ICU care will be much higher than 0.2%.
This is why we must never assume our ICU figures will continue to stay low, or that our ICU capacity will never be put to the test. In that regard, the coming 1-2 weeks will be critical, as we monitor the trajectory of the infection and our overall hospital/ICU situation.
Meanwhile you can do your part to slow down the transmission, and protect yourself and your loved ones. Scale back your non-essential social activities, especially if you are a senior or are living with seniors. Continue to practice good hygiene and comply with safe management measures. And test yourself regularly to make sure you are free of the virus, and do not spread it to the people around you.
- Joined
- Jul 14, 2008
- Messages
- 89,158
- Points
- 113
from yahoo.com:
Trade and Industry Minister Gan Kim Yong hopes the new measures will “blow new wind into the sails of our private equity market”.
Singapore is set to support high-growth enterprises seeking to raise capital in its public equity market through a slew of new measures.
This comes as more start-ups and companies here grow and mature, noted Minister for Trade and Industry Gan Kim Yong.
“We have heard repeatedly that one area where Singapore can do better is in making our public equity market more conducive for innovative growth companies,” he stressed at the SGX Securities Market Open on Sep 17.
With more start-ups maturing into regional and global companies, Gan believes they should have “continued access to a range of financing options to support their expansion plans”.
Among the initiatives to come is the establishment of a co-investment fund by the government, Temasek Holdings and the Singapore Exchange (SGX).
Called Anchor Fund @ 65, the fund will invest in late stage private funding as well as the initial public offering (IPOs) of high-growth companies.
The intent of this is for companies to anchor their listings in Singapore, explained Gan.
See also: Proxy plays for Singapore equities
The fund will start off with $1.5 billion in capital in the first tranche, and will be managed on a commercial basis by 65 Equity Partners – a new wholly-owned investment platform under Temasek.
65 Equity Partners will also manage a $1 billion Local Enterprises Fund @ 65 which will look to supporting large local enterprises to transform, expand and scale.
Another upcoming initiative is the Growth IPO Fund set up by EDBI, the investment arm of Singapore’s Economic Development Board (EDB).
Starting with a fund size of up to $500 million, EDBI will invest in growth stage companies at earlier stages of development and partner with them to growth their operations.
The government body also intends to invest in “future market leaders and technology inventors that are two to five years away from a public listing” on the SGX, noted Gan.
“This is in line with EDBI’s strategic objective to anchor high-growth companies and investors in Singapore to grow our future economic pillars,” he added.
A third initiative to come is the enhancement of the Grant for Equity Market Singapore (GEMS) scheme by the Monetary Authority of Singapore (MAS).
As part of this, the central bank will increase the co-funding of listing expenses for all companies under its listing grant. Companies with a market capitalisation of $1 billion and above will now qualify for 70% co-funding with a cap of $2 million. The cap for smaller companies is now $1 million.
GEMS was first introduced in February 2019 to strengthen Singapore's equity capital market.
It offers grants to: help issuers defray some of their listing costs, groom equity research talent through the co-funding of hiring expenses, and to support crowdsourced initiatives to develop Singapore's equity research ecosystem.
Initially, the co-funding was capped between $200,000 to $1 million, depending on whether the listing was categorised under "New Technology", "High Growth" or "Other Sectors".
The latest expansion will also support listings by Special Purpose Acquisition Companies (SPACs).
“This will better support listings of unicorn companies in Singapore,” Gan says.
Four local startups valued as unicorns in 2021 with valuations of at least US$1 billion ($1.35 billion). These include PatSnap, Carro, Nium and most recently, Carousell.
Another adjustment under the GEMS scheme is the expansion of the talent development grant to co-fund hiring costs for two years. This is up from the earlier cap of a year.
The move comes as “having a strong ecosystem of research analysts to facilitate price discovery and trading liquidity is also a critical success factor for our public equity market,” says Gan.
Meanwhile, the final initiative put forth was SGX’s Strategic Partnership Model.
As part of this, the local bourse will work alongside companies to provide bespoke capital market solutions ranging from private fundraising to enhancing liquidity and profile-building.
Additionally, potential issuers will be able to tap on SGX's network to access private market capital and expand their base of strategic investors.
For instance, SGX’s enhanced liquidity provider programme – which comprises over 40 market makers and active traders – will provide liquidity support for partner companies for up to 24 months. The support will take the form of driving price formation with the view towards being included in global indices.
Partner companies will also receive customised funded profiling initiatives, such as joint marketing, targeted corporate events and global investor outreach.
Capital raising destination
The latest initiatives are slated to enhance Singapore’s attractiveness as a destination for capital raising by both local and regional enterprises.
Says Loh Boon Chye, CEO of SGX, “There are many Asian and home-grown companies which are at the cusp of global success. Anchored in Asia’s only AAA-rated economy, SGX provides an international platform, network and ecosystem for these companies to access growth capital from private to public markets and across asset classes”.
He adds that the latest interagency initiative further sets Singapore apart as a capital markets hub for this is the first initiative in the region that fosters deep collaboration between the public and private sector.
Acknowledging that the initiatives are no magic bullet, Gan reckons that the new measures will “blow new wind into the sails of our private equity market”.
He hopes that it will make “SGX not just a viable but a compelling option for innovative growth companies seeking a public listing”.
The way he sees it, the moves are not just for the sake of having high valuations or market cap.
“It is to give the most promising startups and entrepreneurs from Singapore and across the region another engine of growth, and to allow them to stay rooted here as they ride the wave of opportunity globally,” stresses Gan.
Singapore unveils over $1 billion in new measures to boost equity financing for high-growth enterprises
Trade and Industry Minister Gan Kim Yong hopes the new measures will “blow new wind into the sails of our private equity market”.
Singapore is set to support high-growth enterprises seeking to raise capital in its public equity market through a slew of new measures.
This comes as more start-ups and companies here grow and mature, noted Minister for Trade and Industry Gan Kim Yong.
“We have heard repeatedly that one area where Singapore can do better is in making our public equity market more conducive for innovative growth companies,” he stressed at the SGX Securities Market Open on Sep 17.
With more start-ups maturing into regional and global companies, Gan believes they should have “continued access to a range of financing options to support their expansion plans”.
Among the initiatives to come is the establishment of a co-investment fund by the government, Temasek Holdings and the Singapore Exchange (SGX).
Called Anchor Fund @ 65, the fund will invest in late stage private funding as well as the initial public offering (IPOs) of high-growth companies.
The intent of this is for companies to anchor their listings in Singapore, explained Gan.
See also: Proxy plays for Singapore equities
The fund will start off with $1.5 billion in capital in the first tranche, and will be managed on a commercial basis by 65 Equity Partners – a new wholly-owned investment platform under Temasek.
65 Equity Partners will also manage a $1 billion Local Enterprises Fund @ 65 which will look to supporting large local enterprises to transform, expand and scale.
Another upcoming initiative is the Growth IPO Fund set up by EDBI, the investment arm of Singapore’s Economic Development Board (EDB).
Starting with a fund size of up to $500 million, EDBI will invest in growth stage companies at earlier stages of development and partner with them to growth their operations.
The government body also intends to invest in “future market leaders and technology inventors that are two to five years away from a public listing” on the SGX, noted Gan.
“This is in line with EDBI’s strategic objective to anchor high-growth companies and investors in Singapore to grow our future economic pillars,” he added.
A third initiative to come is the enhancement of the Grant for Equity Market Singapore (GEMS) scheme by the Monetary Authority of Singapore (MAS).
As part of this, the central bank will increase the co-funding of listing expenses for all companies under its listing grant. Companies with a market capitalisation of $1 billion and above will now qualify for 70% co-funding with a cap of $2 million. The cap for smaller companies is now $1 million.
GEMS was first introduced in February 2019 to strengthen Singapore's equity capital market.
It offers grants to: help issuers defray some of their listing costs, groom equity research talent through the co-funding of hiring expenses, and to support crowdsourced initiatives to develop Singapore's equity research ecosystem.
Initially, the co-funding was capped between $200,000 to $1 million, depending on whether the listing was categorised under "New Technology", "High Growth" or "Other Sectors".
The latest expansion will also support listings by Special Purpose Acquisition Companies (SPACs).
“This will better support listings of unicorn companies in Singapore,” Gan says.
Four local startups valued as unicorns in 2021 with valuations of at least US$1 billion ($1.35 billion). These include PatSnap, Carro, Nium and most recently, Carousell.
Another adjustment under the GEMS scheme is the expansion of the talent development grant to co-fund hiring costs for two years. This is up from the earlier cap of a year.
The move comes as “having a strong ecosystem of research analysts to facilitate price discovery and trading liquidity is also a critical success factor for our public equity market,” says Gan.
Meanwhile, the final initiative put forth was SGX’s Strategic Partnership Model.
As part of this, the local bourse will work alongside companies to provide bespoke capital market solutions ranging from private fundraising to enhancing liquidity and profile-building.
Additionally, potential issuers will be able to tap on SGX's network to access private market capital and expand their base of strategic investors.
For instance, SGX’s enhanced liquidity provider programme – which comprises over 40 market makers and active traders – will provide liquidity support for partner companies for up to 24 months. The support will take the form of driving price formation with the view towards being included in global indices.
Partner companies will also receive customised funded profiling initiatives, such as joint marketing, targeted corporate events and global investor outreach.
Capital raising destination
The latest initiatives are slated to enhance Singapore’s attractiveness as a destination for capital raising by both local and regional enterprises.
Says Loh Boon Chye, CEO of SGX, “There are many Asian and home-grown companies which are at the cusp of global success. Anchored in Asia’s only AAA-rated economy, SGX provides an international platform, network and ecosystem for these companies to access growth capital from private to public markets and across asset classes”.
He adds that the latest interagency initiative further sets Singapore apart as a capital markets hub for this is the first initiative in the region that fosters deep collaboration between the public and private sector.
Acknowledging that the initiatives are no magic bullet, Gan reckons that the new measures will “blow new wind into the sails of our private equity market”.
He hopes that it will make “SGX not just a viable but a compelling option for innovative growth companies seeking a public listing”.
The way he sees it, the moves are not just for the sake of having high valuations or market cap.
“It is to give the most promising startups and entrepreneurs from Singapore and across the region another engine of growth, and to allow them to stay rooted here as they ride the wave of opportunity globally,” stresses Gan.
- Joined
- Dec 30, 2010
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- 12,730
- Points
- 113
They still don't understand the issues.
Lack of/declining corporate governance is one of the key reasons why the SG market is
in deep sleep
Lack of/declining corporate governance is one of the key reasons why the SG market is
in deep sleep
- Joined
- Jul 14, 2008
- Messages
- 89,158
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Lawrence announces more payouts.
From 30 September, over 43,900 employers will receive Jobs Support Scheme (JSS) payouts totalling $900 million, to support the wages of over 570,000 local employees.
The September payout will cover the enhanced JSS payout for the Heightened Alert period. It will cover 4 months of wages from April to July, instead of the usual 3 months, to provide cashflow support to affected businesses.
Businesses in the sports and fitness sector like Gymmboxx were particularly affected during Phase 2 and Phase 3 (Heightened Alert). The enhanced support helped them to retain their staff and avoid wage cuts. They also used the time to upskill in coaching and sports science.
As we closely monitor the overall Covid-19 situation and ICU cases, let’s continue to comply with the safe management measures, and take part in activities safely.
Read more here: https://go.gov.sg/jss21sep
Lawrence Wong
9 hrs ·From 30 September, over 43,900 employers will receive Jobs Support Scheme (JSS) payouts totalling $900 million, to support the wages of over 570,000 local employees.
The September payout will cover the enhanced JSS payout for the Heightened Alert period. It will cover 4 months of wages from April to July, instead of the usual 3 months, to provide cashflow support to affected businesses.
Businesses in the sports and fitness sector like Gymmboxx were particularly affected during Phase 2 and Phase 3 (Heightened Alert). The enhanced support helped them to retain their staff and avoid wage cuts. They also used the time to upskill in coaching and sports science.
As we closely monitor the overall Covid-19 situation and ICU cases, let’s continue to comply with the safe management measures, and take part in activities safely.
Read more here: https://go.gov.sg/jss21sep
- Joined
- Jul 14, 2008
- Messages
- 89,158
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Lawrence celebrates Mid-Autumn Festival.
This is not the first Mid-Autumn Festival we are celebrating amidst Covid-19.
The road has not been free of bumps. But every experience has also taught us to cherish what matters - the warmth of our family, friends and community.
As we bond with our families this festival, let's continue to stay safe and adhere to the safe management measures.
You can also make your own lanterns from recycled materials, like what Our Limbang residents have done. Which is your favourite?
八月十五中秋来，祝大家中秋快乐，心情舒畅，喜事连连！
(Thanks to our Limbang residents Regina Tay, Von Lim and June Lim for your photos!)
Lawrence Wong
5 hrs ·This is not the first Mid-Autumn Festival we are celebrating amidst Covid-19.
The road has not been free of bumps. But every experience has also taught us to cherish what matters - the warmth of our family, friends and community.
As we bond with our families this festival, let's continue to stay safe and adhere to the safe management measures.
You can also make your own lanterns from recycled materials, like what Our Limbang residents have done. Which is your favourite?
八月十五中秋来，祝大家中秋快乐，心情舒畅，喜事连连！
(Thanks to our Limbang residents Regina Tay, Von Lim and June Lim for your photos!)
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- Jul 14, 2008
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Lawrence is concerned about jobs.
Jobs. We will continue to work hard to secure jobs and livelihoods for Singaporeans. We can only move forward when we leave no one behind.
We hear your concerns about competition, as well as job displacement and workplace discrimination.
For help with your job search, check out the following resources
https://www.mycareersfuture.gov.sg/
To report any discriminatory cases, please go to
https://www.tal.sg/tafep/Contact-Us.
Lawrence Wong
9 hrs ·Jobs. We will continue to work hard to secure jobs and livelihoods for Singaporeans. We can only move forward when we leave no one behind.
We hear your concerns about competition, as well as job displacement and workplace discrimination.
For help with your job search, check out the following resources
To report any discriminatory cases, please go to
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We hear your concerns about competition, as well as job displacement and workplace discrimination.
For help with your job search, check out the following resources.
I also want to be minister. You got problem, go check out these websites...
For help with your job search, check out the following resources.
I also want to be minister. You got problem, go check out these websites...
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Lawrence is concerned about jobs.
Lawrence Wong
9 hrs ·
Jobs. We will continue to work hard to secure jobs and livelihoods for Singaporeans. We can only move forward when we leave no one behind.
We hear your concerns about competition, as well as job displacement and workplace discrimination.
For help with your job search, check out the following resourceshttps://www.mycareersfuture.gov.sg/
To report any discriminatory cases, please go tohttps://www.tal.sg/tafep/Contact-Us.
he should be retrenched at the polling booth by singkies and get a taste of his own medicine
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Leetrench he still have a lot of money so need to confiscate the assets and leestribute it
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from msn.com:
SINGAPORE — Finance Minister Lawrence Wong on Wednesday night (22 September) said that he did not make the “lousy school” or "any of those comments" in Parliament.
Wong was responding in his Facebook post about securing jobs and livelihoods for Singaporeans to a comment by a netizen.
The netizen Dex Wong asked the minister in the comments section, “Actually I think people are more interested to know whether you were the one who made the "lousy school" comment in Parliament.”
Wong replied, “Thanks for the question. I assure you that I did not make any of those comments.”
Another netizen 树寶 commented, “thank you Sir for the clarification. People who suspected that you make those comments should apologise to you.”
Wong’s reply comes a week after Foreign Minister Vivian Balakrishnan said he had apologised to Progress Singapore Party's (PSP) Non-Constituency MP Leong Mun Wai for his "private comments to a colleague" in Parliament the day before.
"I called Mr Leong Mun Wai today to apologise for my private comments to a colleague in Parliament yesterday. I disagree with him on the issue, but I should not have said what I said," wrote Dr Balakrishnan in a Facebook post. Leong accepted his apology.
Dr Balakrishnan's apology came hours after a lengthy debate on the motion tabled by Wong on securing Singaporeans’ jobs and livelihood, and a separate motion by Leong and fellow PSP NCMP Hazel Poa on foreign talent policy.
A portion of the marathon session, streamed live on YouTube, had gone viral due to disparaging comments about an individual's educational backgroundthat were made on the sideline and caught on a hot mic.
During the 9:47:56 mark of the stream, a male voice can be heard saying, "He is illiterate." At the 9:49:17 mark, a male voice asks, "How did he get into RI (Raffles Institution)?"
A separate remark about a “lousy school" can also be heard.
Disparaging remarks about an individual were overheard in Parliament on 14 September 2021. (SCREENGRAB: Ministry of Communications and Information)
Footage from the Parliament livestream shows that the remarks were made around the time when Manpower Minister Tan See Leng sat down after he addressed questions by Leong.
Dr Tan is seen looking in the direction of Foreign Minister Vivian Balakrishnan, who is sitting next to him. Wong was seated next to Dr Balakrishnan.
I didn’t make ‘lousy school’, 'any of those comments' in Parliament: Lawrence Wong
SINGAPORE — Finance Minister Lawrence Wong on Wednesday night (22 September) said that he did not make the “lousy school” or "any of those comments" in Parliament.
Wong was responding in his Facebook post about securing jobs and livelihoods for Singaporeans to a comment by a netizen.
The netizen Dex Wong asked the minister in the comments section, “Actually I think people are more interested to know whether you were the one who made the "lousy school" comment in Parliament.”
Wong replied, “Thanks for the question. I assure you that I did not make any of those comments.”
Another netizen 树寶 commented, “thank you Sir for the clarification. People who suspected that you make those comments should apologise to you.”
Wong’s reply comes a week after Foreign Minister Vivian Balakrishnan said he had apologised to Progress Singapore Party's (PSP) Non-Constituency MP Leong Mun Wai for his "private comments to a colleague" in Parliament the day before.
"I called Mr Leong Mun Wai today to apologise for my private comments to a colleague in Parliament yesterday. I disagree with him on the issue, but I should not have said what I said," wrote Dr Balakrishnan in a Facebook post. Leong accepted his apology.
Dr Balakrishnan's apology came hours after a lengthy debate on the motion tabled by Wong on securing Singaporeans’ jobs and livelihood, and a separate motion by Leong and fellow PSP NCMP Hazel Poa on foreign talent policy.
A portion of the marathon session, streamed live on YouTube, had gone viral due to disparaging comments about an individual's educational backgroundthat were made on the sideline and caught on a hot mic.
During the 9:47:56 mark of the stream, a male voice can be heard saying, "He is illiterate." At the 9:49:17 mark, a male voice asks, "How did he get into RI (Raffles Institution)?"
A separate remark about a “lousy school" can also be heard.
Disparaging remarks about an individual were overheard in Parliament on 14 September 2021. (SCREENGRAB: Ministry of Communications and Information)
Footage from the Parliament livestream shows that the remarks were made around the time when Manpower Minister Tan See Leng sat down after he addressed questions by Leong.
Dr Tan is seen looking in the direction of Foreign Minister Vivian Balakrishnan, who is sitting next to him. Wong was seated next to Dr Balakrishnan.
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He sounds like the IT guy who asks you to go and google your IT problem.
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Impressionable and easily manipulated sinkies will continue to vote for him.
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Lawrence wants to tap on the brakes.
We are committed to our reopening plans and to learn to live with the virus. But we are experiencing a major wave of infection, which is putting our healthcare system and workers under tremendous strain. So we need to tap on the brakes - to stabilise our healthcare protocols, especially the new arrangements for home recovery, and to augment capacity in our healthcare system. We seek everyone’s support and understanding on these additional measures, to ensure our healthcare system is not overwhelmed.
Lawrence Wong
33 mins ·We are committed to our reopening plans and to learn to live with the virus. But we are experiencing a major wave of infection, which is putting our healthcare system and workers under tremendous strain. So we need to tap on the brakes - to stabilise our healthcare protocols, especially the new arrangements for home recovery, and to augment capacity in our healthcare system. We seek everyone’s support and understanding on these additional measures, to ensure our healthcare system is not overwhelmed.
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Same shit. Different Day.
Still blaming low vaccination rates.
All this crap from the 4G - it's 4F
Still blaming low vaccination rates.
All this crap from the 4G - it's 4F
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