SGX rolls out $5 million Covid-19 care package
As the coronavirus situation continues to escalate globally, the Singapore Exchange (SGX) has rolled out a $5 million care package to provide support and relief measures.
It will bolster efforts by the financial community to reinforce Singapore's resilience as a global marketplace.
In a press release on Monday, it said the SGX Care Package, which is to be given out over a year, includes a $1.5 million contribution to national healthcare-support programmes.
These include The Courage Fund facilitated by the National Council of Social Service and its fund-raising arm, the Community Chest.
The remaining $3.5 million will be used to support Singapore-listed companies as well as SGX employees and contract staff, SGX added.
It stressed that support will be offered to frontline staff such as cleaning and security crew in particular.
CONCERN
It said concern over the long-term social and economic impact of Covid-19 has jolted international financial markets in recent weeks.
Mr Loh Boon Chye, chief executive officer of SGX, said: "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."
SGX added that since early February, it has been working with the wider capital markets industry to understand their practical difficulties.
Its regulatory subsidiary, Singapore Exchange Regulation or SGX RegCo, announced on Feb 27 that it would give issuers two more months to hold their annual general meetings.
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