Helping to stay afloat: Owners of shopping malls and shoplots in Hong Kong and Singapore have offered rebates to tenants to help them weather the ‘storm’ and ensure business continuity. — Bloomberg
SINGAPORE: Singapore pledged billions of dollars in its budget to counter the economic fallout from the coronavirus outbreak, before elections due by next year.
Finance Minister Heng Swee Keat said in his budget speech Tuesday he will set aside S$800 million ($574 million) to help with the repercussions from the health emergency, give S$5.6 billion in support to businesses and consumers and delay the increase of a goods-and-services tax. He also outlined a package of subsidies -- worth S$6 billion -- to support consumers when the sales tax hike takes effect.
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