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  • Volume: 904.7M
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Wilton Resources0.040+0.007
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Stock Chart
Last Done 21.050
Change +0.180 (+0.86%)
Volume 798.9
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Change +0.080 (+0.37%)
Volume 1,809.2
Range 21.600 - 21.890

Related News

Citi returning JSS funds; local banks pledge to keep, create jobs

23 May 2020 09:00

By Natalie Choy

CITI Singapore has moved to return to the government the co-funding offered to all companies as a form of wage support amid the Covid-19 outbreak.

The Singapore banks however are understood to be retaining the funding offered under the Jobs Support Scheme (JSS). In response to queries from The Business Times, the banks said more broadly that they are committed to using the government wage support to create new jobs and boost training in this difficult time.

Citi Singapore told staff on Thursday that it will return the JSS funding - estimated to be in the tens of millions - to the Singapore government.

"We have made a decision to give back the JSS funding to the Singapore government. We feel it is the right time to signal that companies like Citi are here for the long term, and that the well-being of the larger community in Singapore matters to us," said Citi Asean head and Singapore chief executive officer Amol Gupte in an internal memo to staff as seen by BT. The decision to return the JSS was a "unanimous" one from the Citi Singapore management team.

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Source: Business Times

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