SINGAPORE: The Singapore Exchange (SGX) has rolled out a S$5 million care package to “provide support and relief measures amid the COVID-19 outbreak”.
The SGX care package will benefit national healthcare-support programmes, Singapore-listed companies as well as SGX employees and contract staff.
The move is aimed at bolstering “efforts by the financial community to reinforce the city-state’s resilience as a global marketplace”, SGX said in a news release on Monday (Mar 16).
S$1.5 million of the care package will go towards national healthcare-support programmes including The Courage Fund facilitated by the National Council of Social Service and its fundraising arm, the Community Chest.
The remaining money will go to Singapore-listed companies as well as SGX employees and contract staff, in particular frontline staff like cleaning and security crew.
The care package aims to “do more for those who are putting their lives and jobs at risk”, the CEO of SGX Loh Boon Chye 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,” Mr Loh said.
The care package - which will be given out over a period of 12 months - adds on to the measures the SGX’s regulatory arm took in February to give issuers two more months to hold their Annual General Meetings.
Other measures taken by SGX, which has operations in 10 cities globally, include a suspension of all large-group events at its premises, with mandatory temperature screening and health and travel declarations for visitors.