Taxi drivers are complaining about low pick up rate and are suffering from massive income cut.

Tourists are not coming to Singapore. So the likes of Gentings and Straco are suffering from zilch revenue.

Tourists are staying away from flying into Singapore given the number of cases. Singaporeans are also worried about flying out. So SIA will suffer, and the effect will cascade to SATS.  SIA has already cut large number of flights in the months ahead and staff are surplus a plenty.

No tourists, no major events, the MICE sector also suffers. So Kingsmen will suffer.

Trade grinding to a halt because China factories are only slowly trying to resume amidst their lockdowns and containment. So all the industrial and shipping side are facing slowdowns. I think Yangzijiang and industrial REITs will suffer.

Malls are pretty empty these days. All staying home to avoid crowded places.  So commercial REITs will suffer.

Who gains in times like this?...