WINNERS
Aviation Heng proposed $870 million in support for the aviation sector, as well as extending an ongoing job-support scheme instituted last year. Shares in the sector largely held their gains. Singapore Airlines rose 1.4% while airline caterer SATS closed 1% higher. “While the support for the aviation sector was expected, the fact that related stocks didn’t fall shows the market appreciated the budgetary allocation,” said Joel Ng, an analyst at KGI Securities (Singapore). Green Businesses, EVs Singapore plans to issue green bonds to raise funds for selective public infrastructure projects, and has identified as much as $19 billion of public sector green projects as a start. It will also set aside $30 million over the next five years for electric-vehicle-related initiatives and revise fees to encourage the early adoption of EVs. See also: Climate change is a global emergency: Heng The focus on electric vehicles will be positive for taxi-operator ComfortDelGro, according to Terence Chua, analyst at Phillip Securities Research. “ComfortDelGro will win because of an improving economy and their taxis, which are already transitioning toward electric vehicles. Most are already hybrid,” he said.