SUPERMARKET chain Sheng Siong is poised to slice about $567,000 per month from its wage bill as a result of the Government's new cash grant to subsidise companies' wage bills.

It is just one example of how 120,000 employers in Singapore will benefit from the newly-announced Jobs Credit scheme.

In Sheng Siong's case, the funds are likely to be re-channelled into growing the company's presence here and grooming its staff. Said managing director Lim Hock Chee: 'It will ease our cash flow and help us and other companies to tide over the economic downturn.'

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