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Clara Ng

Hakuna Matata

Clara Ng

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Community Manager at Seedly

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Hakuna Matata

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Community Manager at Seedly

Clara Ng

Top Contributor

Community Manager at Seedly

  • Answers (22)
  • Questions (7)
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COVID-19

Economics

Hi Anon, It’s like our prayers have finally been answered! It’s heartening to know that during difficult times such as Covid-19, the Government is doing what they can to help us out and provide the support we need. This will also be helpful for our taxi and private hire drivers. Any cost-cutting measures and every cent saved will contribute in helping us tide through this difficult time. While naysayers argue that this is a political move since elections are coming, I believe that we should give credit when credit is due. Suspending ERP will help and provide us with the support we need. Knowing that the Government is helping Singaporeans during times of need, that is what's worth commending and we should focus on that!
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Seedly

Healthcare

Lifestyle

COVID-19

I suggest giving it to the elderly who live alone or in rental estates who tend to be poor, frail and may not be able to move about easily. It might be hard for them to squeeze with the crowd to buy masks and end up not getting it at all, when they are one of the few groups who are more proned to viruses due to a weaker immune system. Anyone has suggestions on which areas or neighbourhoods we can give masks to these elderly, please leave a comment here! #seedlycares #seedlygivesback #seedlycommunity
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Seedly

Lifestyle

Family

Hi Anon, We are constantly finding ways on how we can improve the user experience, which led to new improvements made to the navigation bar! It is now more user-friendly than our previous one. Like with anything new, we understand that it might take some time getting used to. But we hope that after getting used to it, our users and you will have a better and more enjoyable time on our platform with the improved navigation bar :)
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COVID-19

Economics

Career

Hi Anon, Here's the breakdown of which sectors these various programmes or initiatives will be targeted at helping jobseekers: 1. New SGUnited Traineeships programme - To help first-time job seekers like fresh graduates entering the job market - Government will support up to 8,000 traineeships across both large and small firms - This will include science and technology traineeships in research and development labs, deep-tech start-ups, accelerators and incubators 2. SGUnited Jobs initiative - Create about 10,000 jobs over the next one year - Will start with the public sector recruiting for longer-term roles in essential services - such as social services, early childhood education, and infocomm technology - Short-term, temporary jobs for Covid-19 related operations - such as health declaration assistants, temporary management support officers, and Transport Ambassadors - Agencies will step-up hiring plans to fill a range of jobs in emerging areas 3. Working with Singapore Business Federation and other trade associations and chambers - To create job opportunities in the private-sector for businesses recruiting for recovery, or with short-term manpower needs due to disruptions in labour supply - Workforce SG to open more than 2,200 job vacancies, mainly temporary jobs that are immediately available, through SGUnited Jobs virtual career fair from now till 12 April 2020. Hope this helps!
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COVID-19

Economics

Career

Hi Anon, I think the support given the Government as mentioned in the Resilience Budget will be able to help businesses and employees tide better over this difficult period. The Government will co-fund 25% of local workers’ wages until December 2020, with heavily impacted industries like air transport, tourism and food services to receive higher co-funding. Firms in the food services sector will receive higher support at 50% of wages and firms in the aviation and tourism sectors (most badly affected sectors) will be supported at 75% of wages . One of the key areas of focus for the Resilience Budget is to help save jobs, support workers and protect livelihoods. I think the Government’s move to help businesses with workers’ wages will be able to significantly reduce the immediate pressures businesses currently face from disruptions in operations and cash flows. Workers can get more assurance that they'd be able to keep their jobs knowing that the Government will provide help for businesses and workers to tide over this difficult period.
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COVID-19

Economics

Investments

Career

Hi Anon, This is indeed a MASSIVE Supplementary Budget that the Government has given, drawing up to $17 billion from the country’s past reserves to fund part of this $48 billion Resilience Budget. This is the biggest draw on the country’s reserves yet and only the second time the Government has done so. The Government drew $4.9 billion during the financial crisis in order to help workers keep their jobs and for companies to get credit. There is a need for such a huge second stimulus package because the impacts of Covid-19 is far more severe than any other crisis we’ve faced since our independence. Covid-19 will also cause Singapore to face its worst economic contraction to date. Like what DPM Heng said, Covid-19 is an “unprecedented crisis of a highly complex nature” . Given the severity of Covid-19’s impacts on our economy, businesses and workers, there is therefore an urgent need to come up with a package that will 1. Save jobs, support workers and protect livelihoods 2. Help enterprise overcome immediate challenges 3. Strengthen economic and social resilience
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COVID-19

Economics

Career

Investments

Hi Anon, The Resilience Budget by the Singapore Government is indeed an unprecedented response for unprecedented times . DPM Heng has warned that Singapore is likely to face “its worst economic recession since independence” as a result of being deeply impacted by Covid-19. The Government is setting aside a further $48.4 billion to support businesses, workers and families, on top of the previous $6.4 billion in measures previously announced in Budget 2020 just a month ago. This brings the total amount to $55 billion, which is 11% of Singapore’s GDP, that the Government is giving to help combat the impacts faced from Covid-19. Here are 5 ways the Supplementary Budget will help workers: 1. Saving jobs - The Government will co-fund 25% of local workers’ wages until December 2020 - Heavily impacted industries like air transport, tourism and food services, firms will receive higher co-funding. Firms in the food services sector will receive higher support at 50% of wages and firms in the aviation and tourism sectors (most badly affected sectors) will be supported at 75% of wages - Those earning up to $4,600 monthly will qualify, up from $3,600 - Jobs Support Scheme will be extended, with payouts in May, July and October - $15.1 billion allocated to support more than 1.9 million local jobs 2. Helping self-employed persons - Provide direct cash assistance for self-employed persons through Self-Employed Person Income Relief Scheme (SIRS) - Eligible self-employed persons will receive $1,000 cash per month for 9 months - Provide sustained support for self-employed persons to make use of this period to train and upskill through the Self-Employed Persons Training Support Scheme 3. Helping lower income workers - Workers under the Workfare Income Supplement Scheme will receive an enhanced Workfare Special Payment. Each will get a one-off cash payment of $3,000 4. Helping the unemployed - COVID-19 Support Grant will provide lower and middle-income workers who lost their jobs with $800 every month for 3 months - More flexibility in granting applications for ComCare during this period - Temporary Relief Fund to be set up in April for needy families who need help urgently 5. Helping jobseekers - New SGUnited Jobs initiative will create about 10,000 jobs over the next one year - SGUnited Traineeships programme will give first-time jobseekers and young Singaporeans more opportunities, supporting 8,000 traineeships this year While these measures will not be able to wave off a recession, they will be able to soothe the concerns workers have over losing their jobs or not having an income. These initiatives will be able to provide support for workers until at least Dec 2020 and will help boost consumers' confidence to spend, which will be crucial for a healthier economy and the survival of businesses.
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COVID-19

Career

Economics

Hi Anon, I totally understand your concerns. it’s hard enough working as a freelancer not knowing when your next gig will come. Now with Covid-19 adding fuel to the flames, it is certainly worrying… And am I glad I have an answer for you! In a move to help freelancers like you who are self-employed, here are some of the key initiatives by the government $48 billion Supplementary Budget: 1. Giving self-employed persons $9,000 in cash to help tide you over during this Covid-19 situation. Called the Self-Employed Person Income Relief Scheme, eligible self-employed persons will receive $1,000 a month for nine months. 2. Provide sustained support for the self-employed to train and upskill during this period to remain relevant and employable. 3. Up to 90% of course fees will be subsidised, and from 1 May 2020, the training allowance will be $10 per hour , up from $7.50. The Self-Employed Person Training Support Scheme will be extended to December 2020. 4. Lower-wage workers, including self-employed ones, will also have their incomes further augmented under the Workfare Income Supplement Scheme. Hope this helps and may you tide over this difficult period!
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COVID-19

Healthcare

Hi Anon, There is! Communications and Information Minister S Iswaran has clarified that the rumours about Singapore raising the Dorscon alert from Orange to Red (the highest level) soon are completely FALSE . Mr Iswaran has said that the government is aware that "there has been false information purveyed on various platforms that we are going to declare Dorscon red, that the Government is going to go into a lockdown mode, that we are going to scale back the MRT and bus services." He's clarified on 26 March 2020 that all of the above is completely untrue and that the government has issued clarification through the Gov.sg Whatsapp service. If you'd like to read more about this, you can click the link here. Guys, we should stay socially responsible and not spread fake news as such false information can cause unnecessary fear and panic which we clearly do not need. THANK YOU :)
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COVID-19

Travel

Stocks Discussion

Investments

Hi Anon, Just like how you should do your research before making any big financial decisions, you shouldn’t buy SIA shares now just because its share price is low. It might be a risky move to buy this blue-chip now. Some factors to consider: - SIA has said that cutting 96% of its capacity is the greatest challenge that the group has faced in its existence . SIA could potentially lose over $140 million April, and could be in a precarious position by end June without financial help from the Government, according to UOB Kay Hian’s K. Ajith - OCBC Credit Research has again lowered its credit rating for Singapore Airlines - DBS Group Research has also downgraded the counter - An operating loss for SIA is expected for the fourth quarter ended March 31, 2020 given the fall in revenue for February and March - The airline industry is also a price-sensitive industry, which doesn’t work well for the long-term for investors Some OCBC credit analysts also foresee that SIA will need to seek external financial funding, either from its banking relationships or possibly from its major shareholders. Take a look at my colleague, Sudhan's article about this topic if you'd like to find out more and dive deeper into it. (It's the link that Brandon shared below)
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