Effects of Industrial Light & Magic's Decision to End Singapore Operations

8 Mr Chua Kheng Wee Louis asked the Minister for Trade and Industry with regard to the decision by Industrial Light & Magic to end its operations in Singapore (a) what is the expiry date of the tax incentive schemes granted to the company; and (b) whether the Ministry has the number of Singaporean and non-Singaporean staff that are expected to be made redundant and, if so, what are these numbers.

Mr Gan Kim Yong: Industrial Light & Magic has not been awarded any tax incentive.

The company’s closure is expected to affect more than 300 employees, about two-thirds of whom are locals. The Economic Development Board (EDB) and Workforce Singapore are working with the company to help affected employees seek alternative employment opportunities.