ANNOUNCEMENT 01 Apr 2015In April 2015, the government of Singapore announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Information on the Internationalisation Finance Scheme:
On 1 April 2015, Singapore extended its Internationalisation Finance Scheme to finance also mergers and acquisitions transactions aimed at the overseas expansion of Singaporean businesses. With the amendment, local firms may obtain up to 30 million SGD (in the exchange rate on that date, ca. 22 million USD) in credit facilities, conditional on the M&A activities being in line with the company's core business.
Previously the government supported companies in their overseas expansion through asset-backed financing, structured loans and banker's guarantees.
The scheme is open to all Singaporean businesses which are not investment holding companies and have a turnover of less than 300 million SGD (for non-trading entities) / 500 million SGD (for trading companies).
The list of potentially affected sectors and trading partners was based on those mentioned on the International Entreprise Singapore's website under the link >Venture Overseas>Browse by Market and >Browse by Sector.