Daily Briefing: MAS to ensure ‘well-paced' exit of COVID-19 reliefs; Travelers to China to receive special testing

And Equis has sold two biomass projects to Tokyo Gas.

From ChannelNewsAsia:

The Monetary Authority of Singapore (MAS) is planning to gradually withdraw temporary COVID-19 relief measures for individuals and businesses, but will do so in a “well-paced” manner so as to minimise a “sharp cliff” effect on borrowers, said Senior Minister Tharman Shanmugaratnam.

Introduced earlier in the year, the relief measures have allowed companies and individuals hurt by the COVID-19 pandemic to defer repayments for various bank loans and insurance policy premiums.

Those relief measures, however, come with longer-term costs and “need to be gradually withdrawn”, said Tharman in the MAS’ addendum to President Halimah Yacob’s address at Monday’s opening of the 14th Parliament. Tharman is also Minister-in-charge of the MAS.

“MAS is working closely with the industry to ensure a well-paced exit that minimises sharp cliff effects for borrowers, whilst safeguarding financial stability,” said Tharman.

Read more here. 

From ChannelNewsAsia:

Special COVID-19 testing arrangements have been made for travellers who will be flying to China between Friday and next Monday, said Singapore authorities.

These passengers will be able to take their COVID-19 tests at the Regional Screening Centre (RSC) at 450 Jurong East Street 21 daily until 30 August, said the authorities. The COVID-19 test costs $186.

The information was provided by the ministries of trade and industry, health, manpower, transport, and the Civil Aviation Authority of Singapore in response to media queries following recent restrictions for passengers departing Singapore for China.

Beginning from Friday, travellers from Singapore to China will be required to take a COVID-19 test within five days before their flight to ensure they are free of the coronavirus.

The travellers taking the test will be informed of the results via email within 48 hours, said Singapore authorities.

Read more here. 

From DealStreetAsia:

Singapore-based Equis has announced that it has sold two biomass projects in Japan to natural gas provider Tokyo Gas.

The company said it has executed binding documentation for the sale of the 51.5 MW Fushiki Manyofuto Biomass Power Plant in Toyama and the 75 MW Ichihara Yawatafuto Biomass Power Plant in Chiba to Prominet Power, a wholly-owned subsidiary of Tokyo Gas.

The transaction is expected to close in September, Equis said in a statement.

The Toyama Project and Ichihara Project are 100%-owned by Equis Asia Fund 2 and the divestment to Tokyo Gas forms part of a planned exit of assets from various Equis’ funds, the company said.

In line with the business’ focus as Asia Pacific’s leading infrastructure asset developer, Equis said it has established Equis Development Pte Ltd, a Singapore headquartered company, through which all future equity investments will be made by Equis.

Read more here.