TSMP Law Corporation joint managing partner Stefanie Yuen Thio commented in an article published by the Business Times on 23 December 2020 on the transitioning of the economy as government support tapers off.

As government aid and moratoriums on enforcement litigation both come to an end, “rental defaults and retrenchments are the first and most obvious areas of economic fallout”, said TSMP Law Corporation joint managing partner Stefanie Yuen Thio.

As for actual cessations, however, she said that depends on how reopening goes. “If Singapore is unable to open up more fully soon, we will see businesses begin to default more generally and go into liquidation,” she said.