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COVID-19

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Questions answered

Share your experiences and knowledge with regards to COVID-19

The World Health Organisation (WHO) just declared a global pandemic. Many are unsure of the facts and repercussions brought about by Covid-19, as well as what they can or should be doing.

Share your experiences and knowledge below with regards to:

  • News- both local and global
  • Insurance
  • Travel- Flights, Hotels
  • Investments- Stocks, ETFs, REITs, Blue Chips etc.

Let's help one another!

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Seedly

Healthcare

Lifestyle

COVID-19

Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Updated 1d ago
Posted this question on our Seedly Instagram profile as well and recieved pretty good responses there so far! Keep them coming in and hope to see more responses here as well so we can start to move them in the coming week :) !
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👍 5

Stocks Discussion

COVID-19

Investments

Best 5 SG Stocks (Please DYODD): - DBS - UOB - OCBCC - Venture Corp - SGX Global Stocks: - Alphabet (Google) - Apple - Microsoft - Amazon - Walmart These are my opinions, and adjusted for an average investor that is reading this.
👍 0

REITs

Investments

Stocks Discussion

COVID-19

I'm largely looking at REITs which I deem less risky, these are usually ones with very good sponsor and a decently large portfolio of properties. Most of the Capital, Frasers and Mapletree REITs can be considered if the pricing is attractive enough. However, I expect more downside in the coming months, so will remain on the sidelines waiting.
👍 1

Career

COVID-19

M
Melissa
Level 3. Wonderkid
Answered 2d ago
Well you can always send out your CV while still working at your current job. There are companies that are still hiring during this period so you can try your luck. As for your current work, you just gotta tell yourself that at the end of the day it’s just a job and not the end of the world. Bad bosses suck but this is part and parcel of work life. It’s impossible to please everyone and vice versa. All the best!
👍 2

COVID-19

Property

Payments

Rebates

Kenneth Chan
Kenneth Chan
Level 5. Genius
Answered 6h ago
Landlords are waiting for the rebate to be disbursed by IRAS too, so spare a thought for their cash flow.
👍 1

Property

Family

COVID-19

Loans

No way to give you specific advice without details. Generally, go back to your cashflow and do a proper calculation and projection for the next 6 months and for the long-term. Calculate (one by one) the cash required in order to complete the purchase. Thereafter, check liquidity and affordability. Moreover, understand your work and whether pay cut is temporary or permanent. Figure out ways to improve net cash flow (i.e. increase income, reduce expense). Here is a Guide: Understanding Your Personal Cash Flow Above all, you need to have the confidence and ability to sustain the purchase in order to complete the purchase. Otherwise, not wrong to forgo the 5%. We can always earn that booking fee back. But to dive into higher risk because of 5%, it is certainly not worth it in my opinion. I share quality content on estate planning and financial planning here.
👍 0

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)
👍 5

COVID-19

Personal Finance 101

Johnson Koh
Johnson Koh
Level 4. Prodigy
Answered 2d ago
Can have a look at Min Jo Teo's FB post. She provided some answers for people in your situation. HELP FOR THE SELF-EMPLOYED AND FREELANCERS Last Thursday, DPM Heng Swee Keat announced the Resilience Budget, including the Self-employed Persons Income Relief Scheme (SIRS). On Friday, Singapore Ministry of Manpower followed up by publishing the criteria for SEPs to automatically qualify (https://www.mom.gov.sg/…/0327-about-88000-to-automatically-…) Since then, I have received much feedback from Singaporeans. Many appreciate that besides Jobs Support which will help 1.9 million local employees stay employed, SEPs will also get support. Just this morning, when I visited two different hawker centres, quite a few stall owners knew they were getting 3-month rental waivers and may also qualify for SIRS as well as the enhanced Care and Support Package for households. I’m aware that some SEPs who do not automatically qualify are worried. They hope to be considered. There are three main types of appeal which we will look into: Those living in private properties with Annual Value (AV) slightly more than $13,000 . This already covers all HDB flats and some private apartments. Those whose spouses earn more than $70,000 a year but have many people at home to support. Those who besides self-employment, have a regular part-time work that pay a small salary Interestingly, a number of people have cautioned me not to go overboard using taxpayers’ monies because the criteria and payouts are already generous. SIRS is a brand new scheme, and a novel approach to help SEPs in this unprecedented crisis. The help must come fast, so we used Workfare criteria as a starting point. That would have covered about 50,000 SEPs, but we further expanded the criteria to automatically cover about 88,000 SEPs. The payouts will come in May, July and October. MOM colleagues and I will try our best to address the appeals. I seek your patience and kind understanding. Our team is fighting the #COVID19 battle on multiple fronts – from regulating the inflow of work pass holders into Singapore, to meeting employers’ manpower needs and dealing with sudden policy changes by other countries, to preventing mass gatherings of foreign workers and ensuring safe distancing at workplaces. I’m very grateful to my colleagues for stepping up and taking on an enormous amount of extra but critical work. In about a week, I hope to provide an update on how SEPs who do not meet the SIRS criteria can appeal. I hope this will give some assurance to you. In the meantime, if SEPs or any Singaporean were to run into financial difficulty because of a loss of income, help is available via the Temporary Relief Fund through the 24 Social Service Offices island wide. From 1 May, there will also be support from the COVID-19 Support Grant (https://www.singaporebudget.gov.sg/…/supplementaryannexb2.…). - Jo Teo The Ministry of Manpower will introduce a Self-Employed Person (SEP) Income Relief Scheme (SIRS) to support eligible SEPs with less means, and tide them over this period of economic uncertainty.2Under the scheme, eligible SEPs will receive three...
👍 1

Savings

Lifestyle

COVID-19

Colin Lim
Colin Lim
Level 5. Genius
Answered 1d ago
Share last year on emergency funds on seedly. You may read the comments from various members. For me is 12 months of my income expenses. I am a self employed so i have more concerns. For employees, 6 to 12 months of your current expenses. https://m.facebook.com/groups/1758792264412132?view=permalink&id=2122901681334520
👍 2

COVID-19

Career

Takingstock @
Takingstock @
Level 6. Master
Answered 20h ago
Stick it out until you have the new job offer signed in writing. Chances of getting a new job (and not getting cut shortly after) is very low. Even if you get a job, chances are it will be temporary or contract.
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