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Aviation sector workers to receive 50% wage support

Posted on February 19, 2021 by admin

Companies in the aviation sector will receive up to 50% wage support paid to local employees from April to September this year to help them recover from the effects of the COVID-19 pandemic, according to the Ministry of Transport (MOT).
The wage support comes as part of the $870m OneAviation Support Package announced by Deputy Prime Minister Heng Swee Keat in his Budget 2021 speech.
As one of the two key components in the support package, an enhanced manpower support amounting to $330m will be given. The remaining $540m will go to cost relief, the MOT said.
Companies in the aviation sector which are currently eligible for Tier 1 of the Jobs Support Scheme support will receive an additional 20% support for wages paid to each local employee from April to June 2021, and an additional 40% support for wages paid from July to September 2021.
“The air hub is essential to connect us with the rest of the world and continues to be our lifeblood. This support will help Changi tide through the crisis, whilst we explore ways to reopen borders safely,” Transport minister Ong Ye Kung said.
Its DPU in FY2020 exceeds IPO forecasts by 3.6% to US6.94 cents. Real estate investment trust PRIME US REIT posted US3.42 cents distribution per unit (DPU) in 2H 2020 and US6.94 cents in FY 2020, outperforming IPO forecasts by 2.1% and 3.6%, respectively. The increase in PRIME’s distributional income and DPU 2H 2020 was linked to the higher net property income, lower interest costs and other trust expenses. This was driven by contributions from…
Covax, the global effort to fund vaccinations in lower-income countries, is getting a major boost as the U.S. plans to contribute as much as $4 billion while France will donate 5% of its secured supplies. The U.K. also will announce its commitment during a Group of Seven call on Friday.
Singapore has started taking applications for a program that will allow people to enter the island for business and official purposes without having to quarantine for 14 days. The catch? They’ll have to stay in a bubble-like facility near Changi Airport, and can’t leave.
The group recorded a net profit of $61.8m for 2020. ComfortDelGro (CDG) has recorded a net profit of $46.1m in Q4 2020, bringing the full-year net profit to $61.8m, with lower revenue and impairments offset by government reliefs in the full year. The research team at OCBC Investment Research (OIR) is optimistic of long-term recovery for CDG despite the impact of COVID-19 on taxi and rail businesses. According to them, CDG “benefitted from the…
The pandemic has affected the ability of tenants to pay rent and other fees. OUE Limited has informed it shareholders that it would likely post a loss for 2020, the company disclosed on 17 February. On its investment properties, OUE reported an approximate loss of $424.4m.
The Straits Times Index ended Wednesday trading at 2,920.43 shedding about 14.91 points or 0.51%. Major Asian stocks also ended in the red, with Mainland China still closed for the Chinese New Year break. Some 1.99-billion securities, worth S$1.06-million changed hands during the day’s trade, with the number of stocks advancing in price, uniquely tied up with the number of decliners, at 229 each. The worst performers for the day were Jardine…

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