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Over 8,600 businesses ceased and filed to cease operations in April

Economists warn more of them will go under, after wage support is cut for most sectors; job losses are expected to swell in Q2

Tay Peck Gek

Published Sun, May 10, 2020 · 09:50 PM

Covid-19

Singapore

A TOTAL of 3,771 business entities closed in April - a shade less than the 3,793 in March 2020 - with another 4,892 in the process of shutting down, as the novel coronavirus continues to bite. (see amendment note)

In contrast, the number of business entities formed in April at 3,767 was the lowest since 2013. Figures for the first three months this year were in the range of 4,514 to 5,082.

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