News

Overall GDP also contracted at -2.2% whilst service industries declined at -3.1%.

Job seekers show more interest in working from home amidst social distancing measures.

It is starting with the acquisition of a 50MW portfolio in Thailand.

Revenue from its media business slipped 14.3% due to smaller media ad sales.

Capital value and rates also remained unchanged in Q1 2020. CBD grade A office rents rose 4.7% YoY to $10.09 per sqft per month (psf pm) in Q1 as the negative impact of the COVID-19 pandemic will continue in Q2, according to a Colliers report. On a QoQ basis, grade A office rents remained unchanged.

It is tipped to steadily rise as most Singaporeans are encouraged to stay home.

And grounded aircrew enlisted for virus prevention service.

CapitaLand led the gains amongst top active stocks soaring by 8.39%.

Thirty-eight will remain open, each located within a 3km radius from a closed branch.

Banks can now adjust their capital buffers to support lending activities.

This follows after the regulator gave a two-month extension for AGMs last February.

The initiative will provide 90% support to retailers in domestic markets.

Additional schemes to be implemented during the circuit-breaker timeframe. Grab is reducing its commission rate for private-hire drivers by 50%, according to an announcement. Meanwhile, drivers renting cars from Grab's vehicle rental arm will get an additional 50% commission reduction, meaning they will not need to pay any commission to the company. The reduction will be implemented until 4 May as ride demand has gone down due to circuit-breaker measures. Grab also lowered the qualifying criteria for weekly cover, which gives eligible drivers income support depending on their tier. Free weekly cancellations will also be reduced from six to three cancellations per week. Meanwhile, GrabRental drivers will receive a 30% rental waiver of up to $20 a day during the circuit-breaker timeframe, and may defer 20% of their rental costs of up to $14 a day for the next six months. The programme is part of Grab's contribution to the government’s $73m special relief fund to help private-hire and taxi drivers affected by the coronavirus outbreak.  

Outlets dedicated to dine-in customers will face challenges.

SIA, SIAEC, ST Engg, and SATS averaged 26% declines in March alone.

Tenants to get full rental rebates in April, 50% in May. City Developments Limited (CDL) is committing more than $17m in property tax and rental rebates, an announcement revealed. The move is to help its tenants tide over the COVID-19 outbreak. The amount includes the full quantum of the government's enhanced property tax rebates which will be passed on to CDL's tenants. These enhanced rebates comprise 100% property tax rebate for qualifying commercial properties and 30% for businesses in other non-residential properties. CDL also disbursed rental rebates to qualifying retail tenants in March and will continue to provide rental rebates of 100% in April and 50% in May.Further support packages may be rolled out steadily. All non-essential businesses within CDL buildings will be closed from 7 April to 4 May in line with the Singapore government's stricter "circuit breaker" safe-distancing measures. Meanwhile, some CDL buildings will remain open from 7 April to 4 May to facilitate the continued operations of businesses or stores offering essential services.