BY JUSTIN ONG
According to the central bank’s Financial Stability Review for First Half 2020, the most apparent loser of the movement curbs was the retail space sector, with consumers either shying away due to restrictions or perceived risks amid the Covid-19 pandemic. The estimated timeline for a recovery could be as long as 12 months, according to industry experts cited in the report.
The report suggested that some firms may make such arrangements permanent or at least incorporate more of these into their operations in the immediate term. More worryingly from the report was the conclusion that the property market risk could also extend to the residential market.
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Numerous properties had been foreclosed..