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Banks, telco, property firms help businesses hit by Covid-19 outbreak

Most relief measures are aimed at SMEs, providing aid to tide them over near- to short-term disruption

Published Wed, Feb 12, 2020 · 09:50 PM

Singapore

BUSINESSES in Singapore facing cashflow and financial constraints due to the novel coronavirus may find some respite in new initiatives announced this week.

United Overseas Bank (UOB) on Wednesday said it has set aside S$3 billion to provide companies in Singapore, especially small- and medium-sized enterprises (SMEs), with relief assistance to tide over the negative impact of the Covid-19 outbreak on their business.

The bank's relief measures would enable those affected companies to have more flexibility in their cash flow management.…