If you redeem all your Cash Plus holdings after the cut-off time on the trading day (9:00/12:00 depending on the fund), the assets of the currency fund will become 0. Since this redemption belongs to the next trading day, the income on that day will be distributed as usual. If the NAV drops on the day, a negative income will be distributed, which will cause your fund assets to be negative. At this time, the system will deduct the corresponding amount from the amount you have redeemed to compensate the corresponding monetary fund assets.
Suppose you have S$100 Cash Plus holdings, and redeemed S$100 at 1:00 pm, and holding assets after the redemption will become S$0. The NAV decline generates a loss of -S$0.01. After the income distribution, the fund asset becomes -S$0.01, and the system will deduct S$0.01 from the redeemed funds to compensate the loss.