• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

Tenanted businesses in Singapore need assistance too

by Ghui
31/03/2020
in Opinion
Reading Time: 4 mins read
0

Table set restaurant (Photo by arturasker from Shutterstock.com).

According to reports, the Singapore government has set aside another additional 48 billion to support its businesses and households after official preliminary estimates indicate that the Southeast Asian economy is shrinking by more than expected in the first quarter of this year.  This figure is on top of the the $6.4 billion of economic and healthcare measures announced a month earlier to help the country tide through the ongoing COVID-19 pandemic.

In total, the two support packages account for approximately 11% of Singapore’s gross domestic product (GDP). Businesses have also stepped up with Singapore Airlines (SIA) Chief Executive Officer (CEO), Goh Choon Phong announcing that he will take a 30 percent pay cut after Temasek’s offer of a generous $15 billion bailout package.

While I am heartened that the country has enough reserves, I do hope that the bailout package will also be utilised to assist smaller businesses who will really need a lifeline especially those who are tenanted businesses.

Smaller businesses will not have access to bank loans and other financial instruments the same way huge chains will, but they are the livelihoods of people and may even have employees that depend on them.

While the government has identified the aviation industry as one that will suffer huge losses as a result of this global health crisis, I also have concerns for the smaller businesses, especially within the Food and Beverage (F&B) industry. The F&B industry relies heavily on footfall. With lesser people going out, they will really take a battering. Despite having severely reduced takings and they will still have to pay overheads such as rent. Given that rents are not cheap in Singapore, will the need to pay rents eventually lead to having to let staff go? How will the staff look for new employment as the COVID-19 pandemic rages on?

This is a pandemic that affects all of us and in the words of an online petition:

“There are many tenants and employees who are affected by the new additional social distancing measures by Singapore Government.”

With sales dipping, many tenanted businesses are finding it hard to cope with the increasing pressure on cost especially rental and labour.

We understand that Singapore Government has rolled out the Resilience Budget which includes Property Tax Waiver to Landlords and Rebate for local workers. However, we believe it does not directly benefit tenanted businesses under Commercial or Private Landlords which are only urged to give rental rebates of waiver to tenants.

When required, tenants like us pay our rental on time and are fully cooperative. Most Commercial or Private Landlords have not gotten back to us in the same way.

As we understand Singapore’s Government’s move to reduce the risk of local spread of COVID-19, we are fully cooperative. However, tenanted businesses, local and overseas brands, retail and F&B needs a chance to survive during this crucial period.

We sincerely plead for Singapore’s Government, Commercial and Private Landlords to help affected businesses during this crucial period of time.

We do not want our tenanted businesses to close down, locals to lose businesses and jobs. We are willing to not earn anything during this period of time, and will do all we can to ease cash flow. However, there is only so much that we can do if no one helps us.

“Please sign on this petition and help us!”

This petition on change.org was initiated by Petition SG to urge the Government, Commercial and Private Landlords to help affected businesses during this difficult times due to the COVID-19 outbreak.

At the time of writing, the petition has so far garnered 9,375 signatures.

 

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service
Housing

Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service

27/01/2023
457 civil society organizations call on ASEAN to move beyond the Five-Point Consensus
AFP

Myanmar junta sets out tough new rules for political parties

27/01/2023
Thai ruling party names deputy PM as main election candidate
AFP

Thai ruling party names deputy PM as main election candidate

27/01/2023
Mrs Teo says SG continues to invest in training local talent while MNCs transfer staff to work in SG
Labour

Mrs Teo says SG continues to invest in training local talent while MNCs transfer staff to work in SG

27/01/2023
One third of Amazon ‘degraded’ by human activity, drought: study
AFP

One third of Amazon ‘degraded’ by human activity, drought: study

27/01/2023
Luxembourg court sets aside Sulu heirs’ attachment order to enforce US$15b claim against Malaysia
Court Cases

Luxembourg court sets aside Sulu heirs’ attachment order to enforce US$15b claim against Malaysia

27/01/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service

Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service

27/01/2023
457 civil society organizations call on ASEAN to move beyond the Five-Point Consensus

Myanmar junta sets out tough new rules for political parties

27/01/2023
Thai ruling party names deputy PM as main election candidate

Thai ruling party names deputy PM as main election candidate

27/01/2023
Mrs Teo says SG continues to invest in training local talent while MNCs transfer staff to work in SG

Mrs Teo says SG continues to invest in training local talent while MNCs transfer staff to work in SG

27/01/2023
One third of Amazon ‘degraded’ by human activity, drought: study

One third of Amazon ‘degraded’ by human activity, drought: study

27/01/2023
Luxembourg court sets aside Sulu heirs’ attachment order to enforce US$15b claim against Malaysia

Luxembourg court sets aside Sulu heirs’ attachment order to enforce US$15b claim against Malaysia

27/01/2023
Philippines to appeal ICC resumption of drug war probe

Philippines to appeal ICC resumption of drug war probe

27/01/2023

ASEAN governments must stop using ‘lawfare’ against critics, Southeast Asian MPs say

27/01/2023

Trending posts

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
32

...

Ho Ching breaks silence over Temasek’s write down of its US$275 million investment in FTX, says it “can afford to be contrarian”

US regulator questions VCs’ due diligence work prior to investing in FTX; Ho Ching says Temasek can afford to be contrarian

by The Online Citizen
24/01/2023
28

...

Indian rupee falls 60% since signing of CECA while Singapore becomes top investor in India

by Correspondent
25/01/2023
49

...

Tenanted businesses in Singapore need assistance too

by Ghui
31/03/2020
0

...

“党籍不会过期失效”  前进党称已就党籍终止知会卡拉

AGC asked to explain purposes of 68 private letters of inmates illegitimately forwarded to prosecutors

by The Online Citizen
21/01/2023
16

...

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

by The Online Citizen
26/01/2023
38

...

March 2020
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Feb   Apr »
  • About Us
  • Subscribe
  • Letter submission
  • Contact Us

© 2006 - 2021 The Online Citizen

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2006 - 2021 The Online Citizen

wpDiscuz