Ministry of Finance Extend leases of SMEs hit by pandemic
Recent government budgets have helped small and medium-sized enterprises (SMEs) to weather the challenges faced during the circuit breaker period.

However, the two months have had financial consequences for SMEs, some of which have suffered losses.

Most SMEs signed shorter-term leases, and the loss of business opportunities during the two months, coupled with preventive measures taken by the authorities against Covid-19 going forward, will make it more difficult for business owners to recoup their investment.

One way to help is for landlords to extend tenants' leases, especially in the case of government-owned properties where renewal requires a new tender.

Government-owned properties should lead the way by extending the leases of tenants whose leases are due to expire during the ongoing pandemic.

This would give business owners a fair opportunity to recoup their investment and retain their workforce.

Leong Wai Lun

Source: https://www.straitstimes.com/forum/forum-extend-leases-of-smes-hit-by-pandemic

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