ERS holders to get 11.4% bonus shares on March 1
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SINGAPORE : Singaporeans holding Economic Restructuring Shares (ERS) will receive 11.4 percent of bonus shares.
This is based on their ERS balances on December 31 last year.
The Finance Ministry says this is 3 percent above the real GDP growth rate of 8.4 percent for 2004.
The ERS bonus shares will be paid on March 1.
The Ministry says the bonus rate of 11.4 percent is much higher than the 4.1 percent given out last year.
Singaporeans who have not exchanged their ERS for cash can expect to receive up to S$94 worth of ERS bonus shares.
Meanwhile, some 2.2 million Singaporeans recently received their third and final lot of ERS.
This amounted to S$825 million.
The ERS is a major part of the offset package to help offset the increase in GST from 3 percent to 5 percent.
It was given out in three lots. - CNA -
but i didn get to have it
