Circuit Breaker Day 45

A slew of announcement was released on Tuesday night confirming that Singapore will exit this circuit breaker starting Jun 2 in 3 phases. Phase 1 will last at least 4 weeks, Phase 2 will last several months, and if everything has stabilized, then we will move to Phase 3, the new normal. A detailed plan on the 3 phase re-opening of economy can be found below:

DPM Heng will also be delivering ministerial statement on Covid-19 support measures on May 26, promising more support for business and individuals. Perhaps more ang baos or U-save rebate is on the way? We will find out next week.

EHT yesterday announced that Mr Howard Wu and Mr Taylor Woods (the Non-Independent and Non-Executive Chairman and Deputy Chairman respectively) will resign from the Boards of EHT Directors on 26-May after their recent mess-up by not disclosing information regarding the signing of "Further Non-Disturbance Agreement" which was later identified that certain clauses in the agreement is prejudicial to the interests of EHT and its minority Stapled Securityholders. Point to note is that both Howard Wu and Taylor Woods are also the Co-founder/Principal  of  Urban  Commons, which is EHT sponsor. I feel the resignation is a step in the correct direction, at least going forward, there will not be anymore conflict of interest, if both of them are acting in the interest of Urban Commons or EHT. Hopefully, this can speed up the restructuring negotiation and resumption of trading in EHT shares. USA is starting to open up their economy, gearing as of now is still below 40%, which in my opinion, should not be a concern that EHT may go underwater.