Daily Debrief: What Happened Today

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Budget 2021: S$11b for Covid-19 relief, S$24b to 'emerge stronger' in longer term

WHILE Budget 2021 puts S$11 billion towards continued Covid-19 relief - drawing on past reserves for the second straight year - it devotes far more to the future, including S$24 billion to help firms and workers "emerge stronger" over the next three years.

• S$5.4b to extend Jobs Growth Incentive, SGUnited measures
• New Local Enterprises Funding Platform to have S$1b available for investments
• S$900m Household Support Package to give short-term relief
• Salaries for nurses, other healthcare workers to go up
• Wage Credit Scheme, Capability Transfer Programme extended
• More help for older workers and low-wage employees, families
• Petrol duties up 10-15 cents per litre with immediate effect
• GST hike plan unchanged; GST applies to low-value imports from 2023
• Government to issue green bonds on certain public infrastructure projects
• Record deficit of S$64.9b for FY2020

No signs of significant increase in trading in Singapore securities arising from online discussions

MAS and Singapore Exchange Regulation (SGX RegCo) are on "heightened alert" to such activities, Mr Ong said, noting recent events in the US have highlighted the risk of excessive trading driving sharp price movements.

Ascendas India Trust buys Hyderabad building for S$92m

ASCENDAS India Trust (a-iTrust) has entered into definitive agreements to acquire aVance 6 from Phoenix Infocity for 5.06 billion rupees (S$92.03 million), said its manager on Tuesday.

JTC stops erroneous clearing of land in Kranji

IT clarified that the land had been erroneously cleared by its contractors, who began clearing works before the commissioned Biodiversity Baseline Study was completed.

The STI today

STI closes marginally higher by 0.13%, with all eyes on Budget 2021 THE key Straits Times Index finished at 2,935.34 after advancing 3.82 points or 0.13 per cent.