Some businesses in nightlife sector may just have to bite the bullet

Published Tue, Aug 18, 2020 · 09:50 PM

WITH no quick resolution in sight to Singapore's continued fight against Covid-19, Monday's announcement of extended - albeit tapering - government support came as a relief to many.

Yet even while pledging further support for the hardest-hit sectors, Deputy Prime Minister and Finance Minister Heng Swee Keat made clear that a small minority of firms will have to bite the bullet and move on.

With international travel close to a standstill, aerospace, aviation and tourism have suffered the greatest blows. Given their importance to Singapore's economy and their role as multipliers for other sectors, the government's strategy is to provide further support so that these three sectors can retain their core capabilities and position themselves for an eventual recovery. But not all sectors are being encouraged to do the same. As va…