Ravi Chandran
Australian Alumni Singapore (AAS) stations vending machines in hospital staff lounges to offer freshly brewed coffee for medical staff who who are in the frontline of the Covid-19 fight
With the outbreak of corona virus in Singapore since Jan and DORSCON being raised to orange on 7th Feb, our medical staff have been busy attending to patients and suspected persons. These frontline fighters have been working tirelessly to defend Singapore against this epidemic.
Australian Alumni Singapore (AAS) in recognising the hard work and dedication of our frontline fighters and expressed their gratitude and appreciation. AAS is working with VendShare to station its vending machines in staff lounge of hospitals to offer freshly brewed coffee / beverage 24-7 for medical staff who needs a caffeine shot. Vendshare will be offering its coffee / beverage at cost price and sponsoring the machines for this project. The 1st vending machine was stationed in Singapore General Hospital on Fri, 28th Feb and more machines are planned in other hospitals with an aim to deploy 3-4 machines ultimately.
AAS said it received strong support from corporations with sponsorship from Lendlease and Centurion Corporation Limited for this initiative that gets the initiative started.
“We are grateful for this opportunity to express our thanks and appreciation to our healthcare workers, working tirelessly on the frontlines in this battle against COVID-19.”— Ms Ng Hsueh Ling, Managing Director Singapore and Chief Investment Officer Asia, Lendlease
Centurion is honored to join the Australian Alumni Singapore to recognize and support our medical workers, who are on the frontline of our fight against the COVID-19. We deeply appreciate your heroic efforts in safeguarding our national well-being” — Centurion Corporation Limited
Many other corporations have also expressed interest to contribute to this. AAS members have also generously chipped in to support this meaningful initiative. All of them hope to contribute to show our appreciation for all these dedicated and hardworking frontline fighters.
AAS welcomes members of the public to be a part of AAS Family and join them in showing appreciation for all the dedicated and hardworking frontline Covid-19 fighters by registering here.
The Monetary Authority of Singapore (MAS) said in a press release on Feb 14 that it welcomes the recent announcements from banks and insurers in Singapore to support their customers who may be facing financial difficulties brought about by the impact of the ongoing 2019 novel coronavirus (COVID-19) outbreak.
The support announced by financial institutions thus far include moratoriums on repayments for affected corporate and individual customers, extension of payment terms for trade finance facilities, and additional financing for working capital.
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MAS noted that the measures are in line with guidelines on corporate debt restructuring by the Association of Banks in Singapore (ABS). Insurers in Singapore have clarified that Integrated Shield Plans (IP), IP riders and most other personal and group health insurance policies will cover hospitalisation expenses related to COVID-19.
Some insurers have extended additional benefits to life insurance policyholders diagnosed with COVID-19, such as complimentary lump sum payments upon diagnosis, as well as daily cash payment for the duration of hospitalisation.
MAS said it supports these efforts by financial institutions to work constructively with customers affected by COVID-19 while adhering to prudent risk assessments. The various measures by financial institutions will help corporates and individuals facing short-term cash flow constraints and provide timely insurance coverage for policyholders affected by COVID-19. Taken together, these measures by financial institutions should help to buffer some of the impact on corporates and individuals from the COVID-19 outbreak, said MAS.
Mr Paul Ho, Founder& Managing Director at IcompareLoan and the treasurer of AAS said, “Many are already extending efforts to show their appreciation and kindness to these frontline Covid-19 fighters. The efforts by AAS are commendable in recognising the selflessness of these heroes.”
Colliers International, in research reports published last month said that Covid-19 poses near-term risk to property sectors in Singapore.
Ms Tricia Song, Head of Research for Singapore at Colliers International, said, “We expect rents to stabilise and recover gradually as new supply pipeline eases over 2020-2024. Nonetheless, retail sales remain fragile. Excluding motor vehicles, the retail sales declined 1.2% in 2019In the near-term, the outbreak of coronavirus (COVID-19) could dampen consumer sentiment and delay a recovery. The situation is evolving, and no one really knows how this will turn out at this point; the outbreak could be the proverbial black swan that will hurt the retail sector.”
Mr Dominic Peters, Senior Director of Industrial Services at Colliers International, said, “The COVID-19 outbreak could hit manufacturers with disruption to the global supply chain in the near-term. Coupled with ample new stock, factory rents would likely remain under pressure. In general, we forecast continued two-tier performance between older lower-specifications and newer higher-specifications facilities. Centrally-located business parks and high-spec buildings with good amenities should continue to attract healthy demand while those older and further away from MRT stations or in suburban areas could face more pressure.”
The economic impact of the Coronavirus issue is expected to be short-lived based on the current situation, says a note from Cushman & Wakefield (C&W). The report said that the Singapore government has tried to put in place multiple lines of defence to minimize the chances of the virus spreading further. Any disruption to market activity is expected to be short-lived and so the real estate impact will be minimal said Ms Christine Li, C&W’s Head of Research for South East Asia.
