Companies Applying for Enterprise Singapore's Financing Support Schemes Not Meeting Minimum 30% Local Shareholding Criterion

Ms Yeo Wan Ling asked the Minister for Trade and Industry (a) how many companies applying for Enterprise Singapore's financing support schemes do not meet the minimum 30% local shareholding criterion; (b) how many of such companies have been granted financial support by Enterprise Singapore; and (c) whether concessions can be made for such companies with high levels of local employment.

Enterprise Singapore (ESG)'s financing schemes involve a high degree of Government risk-sharing (50% to 90%). As such, we have imposed a minimum 30% local shareholding criterion to ensure that the schemes support mainly companies owned by Singaporeans.

As of 30 September 2020, over 18,000 companies have taken up loans supported under the enhanced financing schemes. For companies that do not meet the eligibility criteria, ESG may consider exceptional cases on a case-by-case basis, based on factors such as their local employment and strategic importance to the economy. Six companies with local shareholding below 30% were supported under the enhanced financing schemes.