H1N1 flu not likely to have major impact on Singapore&#39;s economy

By Mok Fei Fei, Channel NewsAsia | Posted: 27 May 2009 1626 hrs

SINGAPORE: Analysts say the discovery of Singapore's first case of the H1N1 flu is not likely to have a major impact on the economy or the stock market.

This is because the virus has so far not caused many fatalities and is not as deadly as SARS back in 2003.
Also, with the experience of SARS, analysts point out that Singapore is better prepared to handle outbreaks.

So far, other places that have reported outbreaks of the H1N1 flu are also coping well with the problem, lending support to the belief that businesses will not be adversely affected by the case.

CIMB GK's regional economist, Song Seng Wun, believes that any impact on the various sectors here will be minimal.

Senior dealing director at DMG Partner Securities, Gabriel Yap, adds that equity markets have been calmer since it has been known that H1N1 is not as deadly as initially feared.

Singapore on Wednesday confirmed its first Influenza A(H1N1) case - a 22-year-old Singaporean woman who was in New York earlier this month.

- CNA/yt

From ChannelNewsAsia.com; see the source article here.