More than 10,600 companies tap S$9.4b of loans through Enterprise Singapore over last 4 months: Chee Hong Tat

SINGAPORE: More than 10,600 companies have taken up loans amounting to about S$9.4 billion under schemes overseen by Enterprise Singapore in the last four months from March to June.

More than half of the companies which benefited were from three sectors, with wholesale trade making up 21 per cent of the firms, construction 15 per cent and manufacturing 14 per cent. In addition, in the first half of the year more than 10,000 projects were undertaken under ESG’s productivity solutions and enterprise development grants, which are aimed at helping businesses restructure, he said.

The company has automated many of its processes, for example by using a fleet of 30 small automated guided vehicles to transport items around its warehouse. Mr Chee added that despite being in a “traditional sector”, Markono has been able to use technology to improve its productivity and enhance its competitiveness.

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