About 3,800 companies closed down in April; expect uptick in coming months: Chee Hong Tat

SINGAPORE: About 3,800 companies closed down in April, comparable to the average of 3,700 recorded in the same month over the past five years, said Senior Minister of State for Trade and Industry Mr Chee Hong Tat on Thursday .

About 3,800 business entities were set up in April, nearly a third lower than the average of 5,500 seen in the same period between 2015 and 2019. The fall was across most sectors.

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Business formation to stay subdued, cessation may pick up: MTINEW business formation is expected to remain subdued, while cessation numbers may pick up in the coming months as the Covid-19 pandemic continues to take a toll, said Senior Minister of State for Trade and Industry Chee Hong Tat in Parliament on Friday. Read more at The Business Times.
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