Hard hit aviation, tourism sectors get biggest help in wage subsidies
Stocks expected to benefit include SIA, SATS, Genting Singapore, Sheng Siong and Jumbo Group
Singapore
THE battered services and labour-intensive sectors plus supermarket and F&B operators on the Singapore bourse got a much-needed boost amid the dark clouds of Covid-19 from the government's "fiscal bazooka" unveiled on Thursday.
The strong support for sectors that have been hardest hit by the outbreak will lift the "burden of staff costs" for the likes of Singapore Airlines (SIA) and ground-handling and in-flight catering service provider SATS, according to CGS-CIMB Research analyst Lim Siew Khee.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly