As Singapore enters Phase II of its safe transitioning, some companies are benefiting more than others.
The nation went into “circuit breaker” mode on 7 April when it was established that the COVID-19 pandemic had resulted in community spread.
These measures included the shutting down of all non-essential services, the bulk of retail malls and mandating people to work and study from home.
With the economy grounding to a near standstill as most of the population stayed home, businesses suffered from plunging demand and in some cases, near-zero revenue.
But there is light at the end of the tunnel.
The government announced that the circuit breaker measures would be lifted on 2 June and that Singapore will shift to Phase I of a three-phase approach to re-opening the economy.
The move provided some measure of relief for businesses.
On 19 June, a surprise announcement was made for Phase II’s “Safe Transition” to commence....