Car Trading Company Boss Pleads for MAS to Step in as Banks Are Not Helping Businesses Enough

Imagine this.

In one month you were at your job, working normally and only worrying whether you could beat the traffic jam.

The next, you’ve lost your job cause no thanks to the coronavirus outbreak. 

Just last month alone, a whopping over 8,500 businesses have been closed thanks to COVID-19, which was more than double of March’s number of 4,008.

If you didn’t think it sucked before then you definitely will think so now.

Car Trading Trouble

Some companies might still be around but even then, the struggle is serious.

Especially money-wise.

In fact, things have got so unbearable for Euro Performance, a car trading company, that its managing director Mr Anson Lee has spoken up.

In his Facebook video below, Lee expresses his concerns over the financial state of the company.

There is some strong language so do take note of it.

Here’s a rough break down of the video:

Lee first acknowledges that yes, the virus is very deadly and lives are in danger because of it. However, what’s also taking its toll is the effects of the economy on his business.

He proceeds to say that while the government is doing its best, the Monetary Authority of Singapore (MAS) needs to step in more to help.

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More specifically, to “stop all the f***ing banks from taking interest from us.”

The current option is for them to defer their payment, but that would eventually just lead to snowballing the problem, something he also states later in the video.

Lee feels that a “50% discount is also good” and would at least ease their burdens a bit.

Wants More Support

It definitely sounds like an upsetting phenomenon, one can only imagine the financial strain.

Lee goes onto say that as it stands, the banks would still be making money while companies like his continue to suffer damages.

“Shouldn’t we help each other?”

He even proposed a solution: to at least extend the time frame in which they have to pay their loans. That way they could at least have more time to recuperate from losses.

As mentioned above, Lee says that the eventual snowball of debs would be impossible to immediately pay after things go back to normal.

If things ever go back to normal.

He then does one last plea to MAS to step in to ask banks to just do something that could help ease the pain of the situation.

Lee also cites the numbers of businesses closing, and expresses that he does not want even more businesses to die out because of such a predicament.

“Please help us. We need help.”

As of now, Lee’s video has garnered 34 comments, 329 reactions and around 460 shares.

Others Who Are Affected

In fact, it is not just Lee who is suffering from such damages. Even those in the comments section share his sentiments.

Right now, you may know someone having financial troubles, or maybe are going through one yourself.

So for people who are not affected and kept on going online to say, “Extend Circuit Breaker to save lives!”, you might want to know that you can make those self-righteous comments to appear noble because you’re still having your job.

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