In order to build a share owning society, the Government will from time to time offer Singaporeans stocks of blue-chip Singapore companies at a discount. This will give Singaporeans a more direct stake in the growth and prosperity of Singapore.

The first offering of ST shares to Singaporeans in November 1993 was a resounding success. The Group A share scheme increased the number of Singaporeans owning shares from 250,000 to 1.4 million. The scheme has also succeeded in getting Singaporeans to hold on to the shares as long term investments, instead of stagging them for a quick profit. 95 per cent of Group A ST shareholders still own their ST shares. Those who bought 600 Group A ST shares in November 1993 for $1.90 each and have kept them now have 720 ST shares, worth about $3.50 each. Their initial investment of $1,140 is now worth $2,520 - more than double in less than three years.

The Government has decided to make a second offering of Singapore Telecom shares to Singaporeans. The offering will be packaged like the Group A scheme in the initial ST flotation. The shares will be offered at a discount to the market price to CPF members. They will come with a loyalty bonus package to encourage Singaporeans to hold on to the shares as a long-term investment. This is expected to take place in the second half of 1996. The details are being worked out and will be announced at a later date.