7 Singapore Stocks That Will Benefit from Budget 2024

The Smart Investor02-20

Last Friday, Singapore unveiled its Budget 2024 with measures to help both individuals and businesses cope with higher costs due to inflation.A raft of measures was introduced which included financial...

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href=https://thesmartinvestor.com.sg/7-singapore-stocks-that-will-benefit-from-budget-2024/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last Friday, Singapore unveiled its Budget 2024 with measures to help both individuals and businesses cope with higher costs due to inflation.A raft of measures was introduced which included financial...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/7-singapore-stocks-that-will-benefit-from-budget-2024/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6062","symbol_name":"电子制造服务","start_time":0,"source_url":"https://thesmartinvestor.com.sg/7-singapore-stocks-that-will-benefit-from-budget-2024/","article_id":"2412164964","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2412164964","pubTimestamp":1708394266,"sourceInfo":{"source_id":"thesmartinvestor_highlight","name":"The Smart 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to cope with higher costsThe Budget will dole out financial assistance measures in the form of Community Development Council (CDC) vouchers to help Singaporeans cope with the higher cost of living.All households will receive another S$600 in CDC vouchers that will be equally split between June 2024 and January 2025.Part of these CDC vouchers can be used in approved supermarkets to purchase groceries and necessities, thereby benefiting supermarket operator Sheng Siong (SGX: OV8) and pan-Asian retailer DFI Retail Group (SGX: D01), which operates Cold Storage and Giant outlets.In addition, the government will also hand out a cost-of-living “special payment” of between S$200 to S$400 to eligible Singaporeans to cope with higher living expenses.This additional payment will also benefit both retailers as people will use it to defray their daily grocery and necessities expenses.Supporting families with childrenThe government is also mindful of cost pressures for families with children and directed attention to this area during the Budget.Full-day childcare fee caps in government-supported preschools will be lowered in 2025 while children from lower-income families, including those with non-working mothers, will also receive the higher subsidies originally given to families with working mothers.Lower-income families will also see top-ups to their Child Development Account through the ComLink+ Progress Packages.This move cshould benefit preschool operators such as Mindchamps Preschool (SGX: CNE) as it should generate more demand for childcare services.The National AI Strategy 2.0Moving on to the RIE 2025, it was initially launched in 2020 to tackle three focus areas.The first is to invest in national initiatives to drive economic growth, digitalisation, and industry transformation.The second and third involve growing Singapore’s research talent pool and helping enterprises to commercialise their technologies and improve innovation.A total of S$1 billion will be channelled into developing artificial intelligence (AI) computing infrastructure, talent, and the industry over the next five years.These funds will help support the National AI Strategy 2.0 which was launched last December to make Singapore a global AI leader.The National AI Strategy 2.0 comprises 15 courses of action over the next three to five years including AI-specific training programmes, a dedicated physical space for AI, and the allocation of a sufficient carbon budget for data centres.Companies that stand to benefit from this AI boost include test specialist AEM Holdings (SGX: AWX) and blue-chip electronic manufacturing services provider Venture Corporation Ltd (SGX: V03).Active ageingWith Singapore’s population progressively ageing, the government is spending money to help seniors age actively and stay socially connected.To this end, it will set aside S$3.5 billion over the next decade for the Age Well SG initiative.Residential estates will enjoy upgrades in the form of therapeutic gardens and barrier-free ramps with plans to improve commuter infrastructure to support seniors’ mobility.The government will also develop more assisted living options and better home care arrangements for seniors who require care needs.The Majulah Package, for those born in 1973 or earlier, will include bonuses to CPF Retirement and Special accounts along with a one-off Medisave Bonus of between S$750 to S$1,500.These healthcare initiatives under Age Well SG, along with Healthier SG, should benefit hospital and clinic operators such as Raffles Medical Group (SGX: BSL) and IHH Healthcare Berhad (SGX: Q0F).Get Smart: A much-needed economic boostBudget 2024 offers a buffet spread of benefits that target different segments of the population as well as different sectors of the economy.Its wide-ranging effects should help to provide a much-needed economic boost at a time when supply chains are disrupted and inflation is crimping people’s spending ability.The seven stocks mentioned above should continue to enjoy the benefits of these measures up until the next Budget is announced.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":15,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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