If you read between the lines and have a longer term perspective, this testing is a piece of good news. It is a form of insurance for both sides, really. Once the vaccines are out, perhaps, lesser testings would be required and less stringent measures for outbound travel.
Singapore has been one of the popular country where the Mainland Chinese loves to come, many migrated here, bought properties for investments and or let their children study and eventually work here. As one of the safest country in the world to live in, it offers lots of stabilities to the ultra rich who are finding ways and means to move their assets out of China.
From chart, we can see the share price has rebounded more than 50% from the March low and I believe it will continue higher. For those who wants additional margin of safety, you can wait for the breakout of the first.