Singapore warns on COVID-19 vaccine supplies as it expands immunization drive
May 11, 2021, 8:55 am

Singapore warns on COVID-19 vaccine supplies as it expands immunization drive

Empty Pfizer-BioNTech COVID-19 vaccine vials and syringes are seen in a disposal container at Austria Center, which has been set up as a coronavirus disease mass vaccination centre, in Vienna, Austria April 22, 2021. (File photo: Reuters)

Singapore still expects to complete its COVID-19 inoculation program by the end of the year, the health minister said on Tuesday, though the city-state is also looking to secure more sources of vaccines as global supplies become more stretched.

As of Sunday, 1.8 million people in Singapore had received at least one dose of the vaccine, or nearly a third of the population. About 1.2 million people have completed the full two-dose vaccination regimen, Gan Kim Yong told parliament.

Singapore has one of the fastest vaccinations drives in Asia, but it lags some Western countries such as the United States and the United Kingdom, according to a Reuters tracker.

“Global supplies of vaccines are limited, and not just the quantity but also logistics are challenging, and therefore we need to do what we can to expand and diversify our sources,” Gan

said.

Singapore has been using the Pfizer-BioNTech and Moderna vaccines, and has taken delivery of 200,000 doses of the vaccine developed by China’s Sinovac Biotech, which has yet to be granted approval by Singapore authorities.

Singapore has been looking at alternatives and had “entered into advance purchasing agreements”, said Gan, who said he was unable to give details due to confidentiality clauses.

Singapore’s health authority has previously said it was holding talks with AstraZeneca.

Still, if supplies arrived as scheduled, Singapore would complete its inoculation program by the end of the year, he said.

Singapore was also making plans for booster shots later this year or early next year, if necessary.

Singapore has been vaccinating those aged 45 years and older, but will invite younger people to receive shots from the second half of May.

The country has seen a rise in infections in recent weeks, along with locally acquired cases of coronavirus variants, prompting tightened curbs on social gatherings and stricter border measures.

Though only a fraction of the cases being reported among Singapore’s Southeast Asian neighbors, a jump in infections would be a setback for the Asian business hub, which has successfully contained its earlier outbreaks.

source: Reuters

Image source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.