(Feb 13): A Singapore government-led review group proposed tax incentives to revitalise the stock market, the first steps taken in a market plagued by low liquidity and a dearth of new listings.

The proposals include tax measures to attract enterprises and fund managers to list in Singapore, as well as boost the launch and growth of funds with substantial investment in domestic equities, according to a statement from the Monetary Authority of Singapore on Thursday.

The review group will provide a fuller update on its first set of measures on Feb 21. The next set of measures will focus on fostering longer-term development and growth of the stock market, which will be announced in the second half of the year.

Singapore set up a task force in August led by Second Minister for Finance Chee Hong Tat to help rejuvenate its equities market.

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