Pandemic-linked collapses, distressed asset sales to rise: observers

Singapore

THE Covid-19 pandemic has been tough on local businesses and industries, but market watchers say there could be worse to come in terms of insolvency or troubled companies looking to sell off their assets - especially as an adjustment to an endemic state leads to a withdrawal of support measures.

Industries such as retail, food and beverage (F&B) and construction have suffered the worst amid "vacillating rules" related to social activities, dining-in, and caps on foreign workers, said Robson Lee, a Singapore-based partner of US law firm Gibson Dunn.