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SINGAPORE – Singapore’s financial system remains robust and resilient even as the economy suffers its most severe downturn due to the coronavirus pandemic, central bank chief Ravi Menon said on Thursday.

Data this week showed that the trade-reliant economy plunged into recession in the second quarter after contracting by a record 41.2 per cent.

There was substantial uncertainty over the global economic outlook, the Monetary Authority of Singapore’s (MAS) managing director told a news conference after the central bank’s annual report was released.

“The economic situation remains dire. The recovery is likely to be slow and uneven, weighed down by renewed outbreaks of infection here or abroad,” he said.

The MAS maintained its official GDP forecast in the range of -4 per cent to -7 per cent for 2020, keeping Singapore on track for its biggest-ever slump.

The central bank eased its monetary policy in March, while the government has pumped in nearly $100 billion worth of stimulus and emergency relief measures to blunt the impact of the pandemic and lockdown measures.

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Retail sales assistant Joyce Loh and her husband were supposed to get the keys to their new Build-To-Order (BTO) flat in Bukit Batok last month but will now have to wait till the start of next year.

Their block in West Plains @ Bukit Batok is one of several in BTO projects facing a longer delay of up to nine months, in a revision of an earlier estimation of six months, the Housing Board (HDB) told The Straits Times on Wednesday (July 15).

“Just a few months ago, my husband and I were quite excited and discussing when we can move in this year.

“We have already shopped for furniture and put down a deposit at an interior design company, but now our hopes are crushed,” said Ms Loh of the extended delay.

The 29-year-old and her husband have been living apart in their respective family homes since their wedding in October 2018.

In May, HDB had said that the completion of some BTO projects is expected to be delayed by up to six months due to the halt in construction works during the two-month circuit breaker period which started on April 7.

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A former general manager of Ang Mo Kio Town Council (AMKTC), who was originally sentenced to 27 months’ jail for corruption, will have to spend a longer time in prison after his jail term was upped to three years and three months on Thursday (July 16).

Chief Justice Sundaresh Menon allowed an appeal by the prosecution to increase the sentence meted out to Wong Chee Meng, 59, who received more than $86,000 in a stream of bribes from Chia Sin Lan, 64, between 2014 and 2016.

Chia is the director of two companies – 19-ANC Enterprise and 19-NS2 Enterprise – which carried out works for town councils.

His original jail term of 21 months’ jail was also increased on Thursday, to two years and nine months.

In his decision, the Chief Justice also set out a sentencing framework for certain corruption offences.

Both sides had appealed against the original jail terms meted out to both men.

In May, prosecutors argued for four years’ jail for Wong, and three years and eight months in jail for Chia.

The lawyers for Wong sought between 11 and 14 months’ jail, while Chia’s sought 17 months’ jail.

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His works of art that are pieced together from twigs and leaves may be fleeting, but the joy that one 77-year-old brings to his neighbours in Pek Kio remains, even after the last fragments are cleared from the pavement.

The retiree, known only as Uncle Thien, unwittingly achieved internet fame last week when netizens began sharing posts of him assembling his unconventional portraits.

so my friend posted this on her ig story, this freaking cute uncle does this with BRANCHES everyday. omg it’s too precious 🥺 HE DESERVES MORE ATTENTION!!! 🥺🥺🥺 pic.twitter.com/zeakunH77v

— HALZY (@arethalsy) July 5, 2020

Thien, who retired from being a hawker four years ago, told Lianhe Wanbao that his hobby had come about by chance.

“One day I passed by the carpark and saw some branches on the ground. I had the sudden inspiration to see what I could create from arranging them,” he said. “In the past, I loved buying magazines and books to study their drawing techniques, so I decided to create some portraits.”

His daily displays at the open air carpark near Block 44 Owen Road have won him more than a few fans, as well as some friendly competition.

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As of July 13, Singapore has tested over one million swabs from around 520,000 people for Covid-19.

Based on data on the Ministry of Health’s (MOH) website, about 143,000 swabs were tested between July 6 and 13.

Testing is one of Singapore’s key strategies to contain the spread of the coronavirus here, as it allows for the early detection and ring-fencing of cases before they infect others.

Last month, Health Minister Gan Kim Yong said that the Republic was ramping up its testing capacity and aiming to be able to conduct 40,000 tests a day in the later part of the year.

In order to reach this target, four regional screening centres were opened at the Old Police Academy, The Float @ Marina Bay, Bukit Gombak Sports Hall and Bishan Sports Hall that month.

Plans were also announced for a fifth centre to be opened at 7 Bedok North Street 2, the former Sepak Takraw Sports Hall.

While the Republic is not adopting the strategy of mass-testing its entire population at one go, the authorities have repeatedly said that proactive screening of target groups, including the elderly and healthcare workers, will be carried out.

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The first signs that young voters might have been crucial in the outcome of last Friday’s general election came early on Saturday morning as the results were still sinking in.

Asked at the People’s Action Party’s (PAP) press conference if the ruling party had lost the youth vote, Prime Minister Lee Hsien Loong said young people have “very significantly different life aspirations and priorities”. He had just seen a nearly nine-point vote swing against his party, with a record 10 opposition candidates winning seats in Parliament.

From analysts to politicians, many have since portrayed the swing against the PAP – almost every win came with a reduced share of the vote – as an indication of the need to better incorporate younger perspectives.

Former MP Inderjit Singh, in a Facebook post on Sunday, said millennials were the group who most likely voted against the PAP. He estimated that more than half of young voters had cast their ballot for the opposition.

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