SGX introduces S$5 million care package to boost coronavirus relief measures

SGX introduces S$5 million care package to boost coronavirus relief measures

A care package worth S$5 million has been introduced by the Singapore Exchange (SGX) to “provide support and relief measures amid the COVID-19 outbreak”.

SGX employees and contract workers, alongside Singapore-listed companies and national healthcare-support programmes will benefit from the SGX care package.

On Monday (16 March), SGX stated in a news release that the care package is aimed at strengthening the “efforts by the financial community to reinforce the city-state’s resilience as a global marketplace”.

Recipients of the S$1.5 million funding will be the national healthcare-support programmes, such as National Council of Social Service’s The Courage Fund as well as its fundraising arm, the Community Chest.

The remaining funding will be given to Singapore-listed companies and SGX employees and contract staff, especially frontline workers such as security and cleaning crew.

Loh Boon Chye, the CEO of SGX highlighted that the package hopes to “do more for those who are putting their lives and jobs at risk”.

“As a key part of Singapore’s financial market infrastructure, we are committed to ensuring uninterrupted operations at all times – this means taking the lead to do more for those who are putting their lives and jobs at risk, as well as companies and individuals who keep businesses and markets running,” he added.

This care package is a follow-up to the measures by SGX’s regulatory arm last month to allow issuers two more months to hold their Annual General Meetings. The package will also be provided over a period of 12 months.

Alongside the package, other measures by SGX which now operates in 10 cities across the world, also include mandatory temperature screening, health and travel declarations for visitors, as well as suspension of all large-group events at its venues.

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