Singapore, Feb. 23 -- Investing for the long term has always stood hotpot business owner Oscar Zhang in good stead, especially when it comes to weathering crises.
This is why he can keep Tong Xin Ru Yi Traditional Hotpot afloat despite the downturn caused by the coronavirus outbreak.
The restaurant at 6 Lorong Telok serves slow-cooked soup bases with ingredients on order.
"The virus did have a huge impact. Business dropped by 80 per cent," said Mr Zhang, 32.
"We were affected immediately when the Government announced the first case was found in Singapore before Chinese New Year Eve. Many customers called to cancel their bookings for Chinese New Year's Eve dinner. We had more than 45 reservations cancelled on the first day."
But he...