The timing couldn’t be worse as the second-largest economy kicked off the year with a deadly coronavirus outbreak that has locally infected over 72,000 individuals and claimed the lives of 1,868.
Lee presides over a team of 45 in Singapore and Hong Kong which covers the family office offering, wealth planning, insurance solutions and the in-house trust business for DBS’ private bank operations.
The structural trends that are driving the region’s economic growth and markets remain intact, and will overcome current fears, according to Axa Investment Managers.
All areas of the country, which likely differed in terms of number of reported cases, suffered a negative impact during the SARS outbreak. Some recovered quicker than others, but all bounced back swiftly after containment.
The country, which saw its economy grow by 6.1% in the first quarter of 2019, could now only register 4.6% growth.