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Coronavirus Hits Singapore CBD

By Minjun ParkSingapore
2 min read
Singapore City
Singapore City
In this article (5)

Staff of major firms are being told to work from home and temperature screening and sanitation are being stepped up at many towers in the central business district as two cases emerge.

The novel coronavirus outbreak in Singapore has spread to its financial district, with two employees at buildings in the area found to have been infected, «The Business Times» reported, citing circulars seen by the publication.

The first, who contracted the virus on February 8, works at Marina Bay Financial Centre (MBFC) Tower 1, where Standard Chartered is a key tenant. DBS has offices in Tower 3. The building’s management said that affected office space, lifts and ground floor common area have been deep cleaned and disinfected in accordance with Ministry of Health guidelines, according to the report.

The other, an employee of United Industrial Corporation (UIC), works at Clifford Centre. No other UIC employee has displayed any signs of the virus as of February 7, a circular said, noting the building has since been disinfected.

The Monetary Authority of Singapore (MAS) issued an advisory urging financial institutions to adopt additional measures and precautions on Friday, the same day the city-state raised its response level to Orange, the same level as during the Sars epidemic in 2003.

They include maintaining effective internal controls across operations should split team arrangements be implemented, anticipating and preparing for an increase in demand for services such as cash withdrawal or online financial services, informing customers of the availability of services and operating hours, and supporting staff morale.

It also warned of the heightened risk of cyber threats as actors take advantage of the situation to conduct email scams, phishing and ransomware attacks.

As a precaution against the novel coronavirus, UOB has closed two banking outlets in Shanghai and Beijing, the bank said in a media statement on Monday.

UOB’s Commercial Banking Centre in Kwun Tong, Hong Kong remains closed until 14 February. Corporate customers are encouraged to use the Tsim Sha Tsui and Causeway Bay branches during this time.

Questions & Answers

Q.

Which specific buildings in Singapore's financial district have confirmed coronavirus cases?

A.

One employee works at Marina Bay Financial Centre Tower 1, where Standard Chartered is a key tenant. The other infected employee works at Clifford Centre for United Industrial Corporation (UIC).

Q.

What measures has the Monetary Authority of Singapore recommended to financial institutions?

A.

MAS advised institutions to adopt additional measures, including maintaining internal controls with split teams, preparing for increased demand for services like cash withdrawal, informing customers of service availability, and supporting staff morale.

Q.

What precautions have banks like UOB taken in response to the coronavirus outbreak?

A.

UOB closed two banking outlets in Shanghai and Beijing, and its Commercial Banking Centre in Kwun Tong, Hong Kong, remains closed until 14 February. Corporate customers are directed to other branches there.

Q.

What specific cyber risks has the Monetary Authority of Singapore warned financial institutions about?

A.

MAS warned of a heightened risk of cyber threats. Actors may take advantage of the situation to conduct email scams, phishing, and ransomware attacks against financial institutions.

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