On 5 April 2021, Singapore entered into a semi-normal state of daily living with safe distancing measures significantly eased. Since then, things have taken a turn for the worse \u2013 initially reverting back to Phase 2 measures in just over a month from 8 May 2021.<\/p>\n\n\n\n
Dubbed \u201cround 2 of Phase 2\u201d, this was set to last for about 3 weeks until 30 May 2021. However, as more virulent strains of COVID-19 were found and significantly higher community cases surfacing, the government again announce further tightening measures on 14 May \u2013 taking us into a quasi-Phase 1 environment \u2013 from 16 May to 13 June 2021.<\/p>\n\n\n\n
Read Also: Back To Phase 2 From 8 May 2021 To 13 June 2021: 9 Things Businesses Are Allowed (And Aren\u2019t Allowed) To Do<\/a><\/em><\/strong><\/p>\n\n\n\n We look at some of the biggest losers because of this latest announcement to tighten safe management measures.<\/p>\n\n\n\n According to the latest \u201cheightened alert\u201d measures announced by the Ministry of Health (MOH), dine-in options for F&B outlets will have to cease between 16 May to 13 June 2021. This will be another big blow to the F&B sector, which was likely just starting to get back on its feet.<\/p>\n\n\n\n Underscoring just how much the sector will suffer, the F&B sector was also the only sector that the government extended a 50% enhanced salary support for the duration under the Jobs Support Scheme (JSS), an increase from 10% it would have received normally.<\/p>\n\n\n\n While the government will be supporting hawkers and coffeeshop stallholders with a one-month rental relief on government-owned premises, this is not mandated for private-owned properties leased to F&B establishments. <\/p>\n\n\n\n Read Also: Here\u2019s What You Need To Know About The Jobs Support Scheme (JSS)<\/a><\/em><\/strong><\/p>\n\n\n\n Gyms and fitness studio owners may have felt hard done by when majority of them were to close during the initial tightening measures into \u201cround 2 of phase 2\u201d announced on 4 May 2021.<\/p>\n\n\n\n In this latest round of tightening measures, it is mentioned that \u201cno streneous physical activities should take place in any indoor space regardless of size\u201d. However, it then also mentions that if the activitiy is “high intensity” where masks have to be removed, only 2 persons are allowed, including the coach or instructor). There can be no multiple groups of 2.<\/p>\n\n\n\n While “less strenuous\u201d forms of indoor activities can still continue, such facilities will have to adhere to the reduction in group sizes from 5 to 2. Masks must also be on at all times. Indoor high-risk environments, such as indoor and private gyms and fitness\/exercise\/ dance studios are to be shut. No facilities should offer weights, strength or resistance training or provide equipment associated with strenuous activities.<\/p>\n\n\n\n For larger facilities, they can only admit persons according to its Gross Floor Area – based on 16 spq per person – up to 50 persons. Group must be kept to 2 individuals. No facilities can admit more than 50 persons.<\/p>\n\n\n\n For programmes or classes indoors, multiple groups of 2 can participate, but must remain 3 metres apart. Up to 30 participants in allowed, or up to the capacity of the venue (up to 50 persons). A coach or instructor is permitted.<\/p>\n\n\n\n Read Also: Closure Of Gyms And Indoor Fitness Studios (From 8 to 30 May 2021): What Is Allowed And Not Allowed?<\/a><\/em><\/strong><\/p>\n\n\n\n As work-from-home has reverted to be the default work arrangement again, businesses with office space are going to think twice (or thrice or many more times) before committing to an office space for the foreseeable future. Those already stuck in a lease will be rethinking their lease negotiations when they are up in the future. <\/p>\n\n\n\n Similarly, retail property owners are affected as safe distancing measures get tightened and more importantly, COVID-19 remains elusive to containment measures. For now, occupancy limits for malls will be further reduced from 10 sqm per person to 16 sqm per person. Odd and even date entry restrictions will also continue.<\/p>\n\n\n\n The extend of how much office and retail property owners will suffer is reflected in their stock price performance \u2013 CapitaLand Integrated Commercial Trust, one of the biggest mall operators in Singapore has seen their share price dip over 7% in a 2-week period in May. Similarly, other retail and office REITs are experiencing a poor performance.<\/p>\n\n\n\n#1 Food & Beverage Outlets<\/strong><\/h3>\n\n\n\n
#2 Gyms And Fitness Studios<\/strong><\/h3>\n\n\n\n
#3 Office And Retail Property Landlords<\/strong><\/h3>\n\n\n\n