Having written quite a number of times on Singapore Banks, I received numerous request from readers to share my thoughts on the recent move by MAS, calling upon Singapore Banks to cap their total dividends at 60% of the amount in the previous financial year, I have decided to share my thoughts here. To read the full article, you can find it here.
In light of the COVID-19 Pandemic, the effects of the virus has resulted in many businesses shutting. As Singapore has lifted the lockdown restrictions, having a walk down Orchard Road, one would notice numerous shops in the malls gone. With many expecting a vaccine to only be ready by end of the year and government subsidies ending, this would just mean that more businesses will probably have to make the tough decision to shut down and cut their losses.
To quote DBS CEO, Piyush Gupta – this COVID-19 Pandemic is the worst downturn Singapore has ever faced since our independence in 1965.