The impact is likely to be worse than after the 1997 Asian financial crisis, as accelerated economic restructuring reshapes industries, destroying some jobs permanently.
With nearly US$12 billion worth of bonds set to mature in a deepening recession from now through next year, more financial distress and soured debt may be on the cards.
Albert Tay’s family business may be the last of its kind in the Lion City. Young Singaporeans have no interest in the craft, while Covid-19 could land the killer blow.
With demand at an all-time low, things look dire for Indonesia, Malaysia, Vietnam, Thailand and Brunei, whose state revenues rely on oil and gas projects.
The question for Singapore companies that have switched to the Hong Kong exchange is: was it the right call?
A new group of entrepreneurs is assimilating into other economies and building localised businesses rather than brandishing the city state’s brand.
Bilingualism has given Singaporean entrepreneurs the edge when they set up businesses in China.
When businessman K.K. Chua was sent to China in the 1980s, it was like being ‘sentenced’. Now it is so far ahead, young people seeking opportunities should look elsewhere, he says.
Once the world’s busiest port, Hong Kong now trails Singapore and mainland rivals. Can it turn things around, or has this ship sailed?
There is no shortage of optimism about the Lion City’s housing market, but experts say that confidence is misplaced amid rising foreclosures, stagnating home loans growth and the worsening global economic outlook.
Singapore’s Sentosa Cove was once touted as a home for the rich and famous. Twenty years on, with property prices in the doldrums, some wonder if it is more Bali than Monte Carlo. Still, there are signs its fortunes have turned.
A deal between Singapore’s port operator PSA and Japan’s largest ocean carrier ONE means the world’s three major container shipping alliances – accounting for three quarters of global container trade – have come to the island nation
As the era of ultra-low interest rates fades, Singaporeans with mortgage payments are feeling the pinch. But is it homeowners or investors who are most at risk of getting their fingers burned?
Disagreements over WTO reform saw this month’s Apec summit end without a joint statement. But most economies making up the bloc agree commerce remains vital, despite the US-China trade war dominating proceedings
Countries like Singapore are also gunning for lucrative opportunities to be part of China’s goal to be a high-tech powerhouse
The Lion City is exporting its culinary culture as part of a burgeoning global food-gift market set to be worth US$70 billion by 2020
The Lion City has long been atop the regional capital markets food chain, but other nations such as Vietnam, Malaysia and Indonesia are starting to compete.
‘Draconian’ measures have been put in place to cool off private home prices that have risen more than 9 per cent over the past year as officials hope to nip a potential housing bubble in the bud.
The Lion City hopes a new multibillion-dollar facility will help keep it the world’s largest transshipment hub. But there’s a rising tide of pretenders to its crown.
As tycoons buy up properties in record-breaking deals and private house prices rebound, homes in the Lion City seem destined to get pricier – or tinier.