Singapore businesses call for more COVID-19 support

Several business associations have called for deeper support as Singapore tightens its pandemic-led measures to tackle a surge in new COVID-19 cases. 

“Businesses who have managed to survive thus far are burdened by the loss of revenue and their ability to sustain jobs and afford rentals, the two largest cost components of businesses in retail, F&B and services,” said the Association of Small & Medium Enterprises, Restaurant Association of Singapore, Singapore Retailers Association (SRA) and Singapore Tenants United for Fairness in a joint statement. 

The SRA asked for a mandatory rental rebate of at least 50% for as long as the tightened measures are in place, and a waiver of all foreign worker levies until end-2021.

The Alliance of Frontline Business Trade Associations asked for an extension of a bank loan principal moratorium to June 2022, and timely rental rebates that commensurate with revenue impact.

On Tuesday, Finance Minister Lawrence Wong promised that all affected businesses and workers will receive a support package, with details to be announced soon. 

READ: Singapore announces new support package as social curbs tightened

Under Singapore’s new measures, dining in at F&B eateries are banned, with only takeaway services available effective July 22. Operating capacity for malls will also be cut from a maximum occupancy limit of 10 sqm of gross floor area per person to 16 sqm per person.