Find a Primary Dealer
View the list of primary dealers for the SGS market.
|Legislation||Local Treasury Bills Act|
|Objective||To raise cash, should any short-term cashflow mismatches occur.|
|Issuer||Government of Singapore|
|Sovereign Credit Rating|
|Tenor||Less than 6 months (<182 days)|
|Frequency of issuance||Ad-hoc|
|Issuance timeline||Announcement on T-1
Auction on T
Settlement on T+1
|Method of sale||Uniform price auction – competitive bids only|
|Coupon Payment||No coupon payment; instead they are issued at a discount to the face (par) value. The interest is paid at maturity, and is the difference between the purchase price and the face value.|
|Tax||There is no capital gains tax in Singapore.
For residential financial institutions (excluding Financial Sector Incentive - Standard Tier companies) and corporations, interest income is taxed at a concessionary rate of 10% for SGS issued up to 31 Dec 2023.
Get an overview of Singapore's economy, credit rating and bond market. View the market features, legislation and guidelines, and tax treatment.
View the issuance calendar for planned auctions and find out how auctions work.