CLOSURES OF COMPANIES AND BUSINESSES (Figures)

Dr Toh Chin Chye asked the Acting Minister for Trade and Industry what is the number of companies and businesses that have voluntarily closed down or been forced to liquidate or have remained dormant for the years 1984 and 1985.

BG Lee Hsien Loong: In 1985, 350 companies were wound up voluntarily, 397 companies were forced to liquidate and 9,992 businesses terminated their operations. There are no available statistics on the number of companies and businesses which remained dormant.

In 1984, 251 companies were closed down voluntarily, 219 were forced to liquidate and 10,044 businesses ceased to operate. Appendix I - SUMMARY OF FISCAL INCENTIVES ANNOUNCED IN 1985 WHICH AFFECT THE CENTRAL GOVERNMENT BUDGET (Cols. 441 - 442) Appendix II - REDUCTION IN PERSONAL INCOME TAX RATES WITH EFFECT FROM YEAR OF ASSESSMENT 1987 (Cols. 443 - 444)