Robin Lau, head of the Singapore Confederation of Industries (SCI), yesterday urged the government to include in the second off-Budget package expected to be announced on Friday 12 October 2001 the creation of a bank that would specifically cater to the needs of small and medium-sized enterprises.
Mr Lau said that an SME (small and medium-sized enterprise) bank should be set up to help SMEs in their financial requirements. Among other requests, the SCI has asked the government to improve the chances of local SMEs in winning public sector sub-contracts and slash the costs of borrowing working capital and factoring loans.
Source: The Straits Times, Singapore
