THIS past week, nine in 10 Singaporeans would have received a one-off payment of S$600 from the government, to help them cope with the economic fallout of Covid-19. Meanwhile, shareholders of HSBC Holdings - including myself - did not receive the company's fourth interim dividend for 2019 of US$0.21 per share.

HSBC said on March 31 that it had received a written request from the Bank of England, through the Prudential Regulation Authority, to withhold the dividend, which was to have been paid on April 14. HSBC also said that it will make no interim dividend payments or accruals until the end of 2020. It will review its dividend policy and payments in respect of 2020 once the impact of Covid-19 becomes clearer.

"HSBC has a strong capital, funding and liquidity position; however, there are significant uncertainties in assessing the time period of the pandemic and its impact," the bank said. "The board regrets the impact this cancellation will have on our shareholders, including our retail shareholders in Hong Kong, the UK and elsewhere," it added.