Call to restore market lunch break: MOM unable to help

Singapore

THE Singapore Society of Remisiers (SOR), which had appealed to the Ministry of Manpower (MOM) for help to reinstate the lunch break for the stock market, has been told that the ministry is unable to address its concerns.

"As remisiers are self-employed agents and as there is no employer-employee relationship with the Singapore Exchange Ltd, we wish to inform you that the ministry is unable to address your concerns under the Employment Act," said MOM.

"Your society may wish to advise remisiers to make arrangements for staggered lunch breaks which is a common practice adopted by service-related companies that have continuous operations. Nevertheless, we will forward a copy of your letter to the Singapore Exchange so that they can engage your society on the concerns raised."

In its Jan 15 letter to MOM, the society argued that having a lunch break is a "basic human right to meet a basic human need" and that it is unethical not to allow a break for lunch.

The SGX introduced continuous all-day trading in 2011, removing the 90-minute break which used to be in place from 12.30-2pm.

In its appeal, SOR pointed out that remisiers used to meet clients over lunch in order to determine client needs and build trust. Also, most other Asian markets pause for lunch, for example 12.30-2pm in Malaysia, 12-1pm in Hong Kong, 12.30-2pm in Thailand, and 11.30am-12.30pm in Japan.

It pointed out that markets like South Korea and Taiwan, which do not have lunch breaks, are open for shorter hours than the eight hours and 35 minutes here - six hours in South Korea, and four hours and 30 minutes in Taiwan.

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