Singapore will soon adjust its debt moratorium schemes, with the regulator looking to extend the programmes to certain borrowers beyond December 31 this year, while also ensuring that those with the ability to pay should begin repayment before the moratoriums expire.
The MAS earlier said that in Singapore, 12 percent of the economy is at the epicenter of the COVID-19 crisis (Photo: straitstimes.com).
Singapore (VNA) – Singapore will soon adjust its debt moratoriumschemes, with the regulator looking to extend the programmes to certainborrowers beyond December 31 this year, while also ensuring that those with theability to pay should begin repayment before the moratoriums expire.
The Monetary Authority of Singapore (MAS) earlier said that in Singapore, 12percent of the economy is at the epicenter of the COVID-19 crisis. Companies insectors hit hardest, specifically construction, travel-related, andconsumer-facing services, are expected to take some time to recover.
Certain industries or activities may be permanently impaired by the crisis dueto a range of factors, including a shift in supply chains and consumer demandpatterns, according to MAS managing director Rai Menon at the central bank’sannual report briefing.
Maybank-Kim Eng earlier estimated that about 12 to 16 percent of total loansare under moratorium and other relief schemes from the local banks.
The three local banks inSingapore are estimated to have granted payment deferments to more than 15billion SGD (10.94 billion USD) worth of mortgages as at the end of June thisyear, data from the MAS had shown. The total value of deferred mortgages inSingapore as of the end of June makes up almost 10 percent of all outstandingmortgages.
All in, Singapore’s fiscal outlay in response to the pandemic has stood at some93 billion SGD so far, the largest in this country’s history./.
Singapore’s employment fell by a record 103,500 in the second quarter of 2020, four times higher than that in the previous quarter, according to the Ministry of Manpower's Labour Market Report released on September 14.
A robot carrying out nasal swabbing to diagnose Covid-19 has been developed by Singaporean clinicians, who say the automated procedure is safe, faster and more comfortable compared with manual swab tests.
The confidence in business activities of small- and medium-sized enterprises (SMEs) operating in Singapore for the remaining months of 2020 falls to the lowest level since 2009, as the COVID-19 pandemic has constrained global growth and slowed economic activities around the world.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
Indonesia ranks as the world's sixth-largest gold reserve holder, producing an estimated 160 to 200 tonnes annually, mainly through major state-owned enterprises. Despite this, much of the mined gold is held or traded abroad. In 2024 alone, Indonesia exported gold worth 5.4 billion USD while reimporting 2.6 billion USD worth of the metal.
Cambodia and Thailand vowed not to undertake provocative actions that may escalate tensions, including entering the other side’s air space and territory, and refrain from constructing or enhancing military infrastructure.
Trenggono emphasised that the Indonesian government aims to increase the total coverage of MPAs to 97.5 million hectares by 2045. This initiative forms a key component of the “Golden Indonesia 2045” vision, which prioritises sustainable maritime development and environmental protection.
The MAS earlier said that in Singapore, 12 percent of the economy is at the epicenter of the COVID-19 crisis (Photo: straitstimes.com). 
