MAS to launch new S$75 million grant to enhance Singapore’s role as an enterprise financing hub

30 January 2019

On 14 January 2019, the Monetary Authority of Singapore (“MAS”) announced that it will launch a new S$75 million Grant for Equity Market Singapore (“GEMS”) in February 2019. A three-year initiative, GEMS will assist enterprises which are seeking to raise capital through Singapore’s equity market.

GEMS will comprise three components: a Listing Grant, a Research Talent Development Grant and a Research Initiatives Grant.

Listing Grant 

The Listing Grant is aimed at further encouraging eligible enterprises to list on Singapore Exchange (SGX). The eligibility criteria and corresponding level of funding are as follows:

  • Enterprises in new technology sector with minimum market capitalisation of S$300 million: Co-fund 70% of eligible listing expenses, with grant capped at S$1 million
  • Enterprises from high growth sectors with minimum market capitalisation of S$300 million: Co-fund 20% of eligible listing expenses, with grant capped at S$500,000
  • Enterprises from all sectors with no minimum market capitalisation: Co-fund 20% of eligible listing expenses, with grant capped at S$200,000

The new technology sector includes financial technologies, consumer digital technologies, on-demand services as well as gaming services and peripherals, while the high growth sectors include digital cluster, advanced manufacturing, hub services, logistics, urban solutions and infrastructure, and healthcare.

Research Talent Development Grant

To strengthen Singapore’s research coverage of enterprises (primarily listed small- and mid-cap enterprises), the Research Talent Development Grant will co-fund locals in the following areas:

  • 70% of the salaries for fresh graduates hired as equity research analysts; and 
  • 50% of the salaries for re-employed experienced equity research analysts.

Research Initiatives Grant

The Research Initiatives Grant will support crowd-sourced initiatives to propel the development of Singapore’s equity research ecosystem. Such initiatives may include publication of industry or sector primers, and innovative ways to distribute research and disseminate enterprise information to investors.    

Reference materials

The following materials are available on the MAS website www.mas.gov.sg:

 

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