A restaurant that sells only takeaways in Singapore amid the COVID-19 pandemic (Photo: AFP/VNA) Singapore (VNA) – Enterprises in Singapore recorded their worst performance in the first quarter of 2020 since the global financial crisis of 2008 as the COVID-19 pandemic pushed the economy to stagnation, a recent business climate survey showed. The poll of 151 firms, conducted by the Singapore University of Social Sciences and the Business Times, revealed that their revenue, profit, orders and new business activities fell sharply. Up to 84 percent of the respondents believed that their business performance would worsen in the next six months, compared to 76 percent in Q4 of 2019. This is also the highest rate since the first survey conducted in 1996. According to economist Tan Khay Boon at SIM Global Education, the pandemic's short-term impact will be considerable declines in output and investment sources and an unemployment surge. In the medium term, businesses will face more pressure to cut expenses, improve operational efficiency and seek new clients. Experts Chow Kit Boey and Chan Cheong Chiam forecast the Singapore an economy may contract 4.3-5 percent in Q2 compared to the same period last year. Chow said if the country has to… Read full this story
- Vietnam stock market set to be world’s worst in April
- Market report: Further pain for NMC Health founder
- Market report: Trade fears take their toll on blue-chips
- Singapore digital bank race heats up with 21 licence bidders
- Worst ever NHS A&E performance figures for December show 400,000 patients faced four-hour waits as record-low 79.8% were treated in the target time
- Pakistani Passport ranked fourth worst
- Best and worst stocks of the decade on the Australian share market
- UK supermarkets suffer worst Christmas since 2014 with Morrisons the laggard
- Law firm Schirp calls for special audit of Wirecard
- Priyanka Chopra Gets Cozy With Boyfriend Nick Jonas At A Nightclub In Singapore, Viral Video Here!
Firms in Singapore report worst performance since 2008 have 301 words, post on en.vietnamplus.vn at May 19, 2020. This is cached page on xBlogs. If you want remove this page, please contact us.