Dear readers, it is encouraging that Singapore Deputy Prime Minister, Lawrence Wong has launched a Forward Singapore exercise for Singaporeans to all come together, examine our values and aspirations and build consensus.
As an investor, one idea that I have immediately is for the Special Discounted Shares scheme to be brought back and enhanced.
For those who are as young as me or even younger so that we would not be very young or not even be born: the Special Discounted Shares scheme is part of Singapore’s government asset enhancement programme to make Singapore a share-owning society, giving Singaporeans a greater stake in the country.
Arising from the scheme, Singaporean CPF members were able to buy discounted Singapore Telecom (Singtel) shares in 1993 (ST “A” shares) and 1996 (ST2 shares). It was also noted that members who held on to their discounted Singtel shares were entitled to loyalty shares.
I believe it is time to bring back an enhanced Special Discounted Shares Scheme for All Singaporeans in this time of increased economical volatility and high cost of inflation.
As part of this enhanced scheme, the government can consider letting Singaporeans CPF members subscribe for good quality high-dividend Singapore REITs and Trusts at discounted prices.
This enhanced Special Discounted Shares Scheme will enable Singaporeans to have a stake in the nation, grow their assets together with the country through the regular high dividends and the good lower-than-market entry point of their investment.
Also, this scheme will also make eligible Singaporeans a stakeholder and shareholder in Singapore’s top companies!
There is no better time to bring this enhanced Special Discounted Shares scheme onboard than now when financial markets are falling, inflation and cost of living high and when Singaporeans may need a greater stake and ownership in Singapore than before.
Majulah Singapura!