-- CapitaLand Ltd. became the latest company in Singapore to implement a pay freeze, saying board members and senior management will take a reduction in their fees and base salaries ranging from 5% to 15% in light of the spreading coronavirus.
Singapore has 91 confirmed coronavirus cases, and virus recoveries -- currently at 58 -- are outpacing new cases. A medical research team on the island has managed to establish links between cases in the city-state using a new testing method. CapitaLand kept its final ordinary dividend for 2019 at S$0.12 per share, unchanged from 2018. This “prudent approach” will enable the group to remain resilient during this period of uncertainty, it said.
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