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Why the PWM when high rents are killing businesses?

The PAP is considering introducing the Progressive Wage Model (aka minimum wage) in the food sector for cooks, servers, kitchen help, etc.

But Senior Minister of State for Manpower Zaqy Mohamad is already warning that diners may have to pay more when eating out.

This is nonsense. Such increase in costs to operators can be offset by reducing rent which forms a huge chunk of a business’ operating expenses.

With the Covid pandemic hitting the F&B sector hard as well as the impending GST hike, implementing the PWM policy in the food sector will kill off even more eateries. And as if things are not expensive enough for S’poreans already.

But, as always, it is the big chains (mainly foreign-owned) that can survive such added costs. It is our local mom-and-pop outlets including many hawkers that will suffer. (And we wonder why we can’t produce more local entrepreneurs.)

As I said before, high rent is killing businesses in S’pore. And the government is the biggest landlord on the island (think CapitaLand, Surbana, JTC, Mapletree, HDB). It’s like this: The PAP grabs 99 of the 100 peanuts on the table and makes us (small business owners, workers and consumers) fight for that one remaining peanut.

Let’s raise wages for our workers, food sector and otherwise. But let’s not penalise small business owners. Instead, let’s call for lower rent in S’pore. Let’s get smart.

 

*Facebook post by Dr. Chee Soon Juan.

 

 

 

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17 Responses to “Why the PWM when high rents are killing businesses?”

  • oxygen:

    ACCOMMODATION COSTS in bubblicious real estate economy transfer costs to all sector of the economy.

    These are not sustainable in competitive economies everywhere.

    SGX-listed properties shares are not performing last year – mostly falling in market valuation and unlikely to recover unless and until global air travel and tourism resume – which is unlikely for a few years at least.

    In the interim, small foot-traffic dependent business like food and retail will collapse one after another like swatted flies.

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  • Tremendous:

    CSJ’s plan can only work when the chiefs go. The landlords are the chiefs’ merrymen.

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  • Harder Truths:

    People think this will help. Wrong. It just means more people competing for less jobs to keep the overall coast the same for the employer.
    And these jobs will be longer hours to compensate for the higher salary.
    And the only applicants who can fill this role is FT.

    The replacement of citizens in the job market that started with too many FT’s just got worse with this new law. Unless FT’s are restricted there will bo no way to improve the situation for locals.

    Remmeber that ‘work from home’ can mean ‘work from Timbuktu’ as well. Minimum wage means nothing when anyone around the world can apply.

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  • Right, and a lot worse:

    “As I said before, high rent is killing businesses in S’pore. And the government is the biggest landlord on the island (think CapitaLand, Surbana, JTC, Mapletree, HDB). It’s like this: The PAP grabs 99 of the 100 peanuts on the table and makes us (small business owners, workers and consumers) fight for that one remaining peanut.”

    Dr Chee is very right on this point. The situation is a lot worse.

    PAP grabs 99 of the 100 peanuts on the table.

    The country fight for that one remaining peanut. Of course, that one peanut will be very expensive with everyone rushing for it, a manufactured scarcity.

    Then, PAP use that one peanut price to price the 99 peanuts. PAP is the cause of rising prices.

    Example. Land price. PAP releases tiny bits, i.e., the one peanut, for private bidding. Then the bid prices are used to price HDB land, the 99 peanuts. Citizens are all conned into paying high prices for HDB which will drop to 0 after 99 years.

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  • No Cure:

    The actual stupid ones are Singaporeans who voted for pap. They are the cause in price increase across the board.

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  • xoxo .,:

    Yes,RENTAL IS THE kILLER.
    The govt,via Capitaland , is a price leader.
    No businessman want to *kompraint* about rent cost and why?

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  • circular chain reaction:

    //the one peanut, for private bidding. Then the bid prices are used to price HDB land, the 99 peanuts. Citizens are all conned into paying high prices for HDB which will drop to 0 after 99 years.//

    clap clap. this is how it works hor ?? circular chain reaction which keeps on feeding on itself and the white monkey gang will say ‘market price lor’ where open-leg policy (does 6.9m or 10m or 6.8m ring any bell ??) will “ensure” demand (market force ??) and the release of land / min reserve land price (market force ??) will ensure “min sell price level” – all thanks to the hard work of the monkey monkey gang ???

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  • Soccerbetting2:

    Reported on mothership :Quote -”…

    Julia Yeo | February 09, 2021,…

    Ho Ching will be retiring as the chief executive officer of Temasek Holdings and step down from the company’s board on Oct. 1, according to the company’s statement on Tuesday (Feb. 9).

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    Ho Ching to retire
    Dilhan Pillay Sandrasegara will succeed her as Executive Director and Chief Executive Officer of Temasek Holdings with effect from Oct. 1.

    He will concurrently hold his current appointment as Chief Executive Officer of Temasek International (TI).

    Ho, who first joined Temasek Holdings in 2002, will step down as CEO and the company’s board from Oct. 1.

    Announcing the change today, Lim Boon Heng, Chairman of Temasek Holdings, noted: “Leadership succession is a strategic responsibility of the Board. We have had in place an annual review since the early 2000s. This is to enable the Board to be prepared for all eventualities, with various succession options over different time horizons.”

    Dilhan Pillay Sandrasegara to take over
    Dilhan first joined Temasek in September 2010, and has held various leadership roles, including as the Head of Investment, Portfolio Management, and Enterprise Development Groups. He has also led various market teams including Singapore, the US and Americas.

    Prior to Temasek, Dilhan was the Managing Partner of Wong Partnership LLP, one of the largest law firms in Singapore. He practised law for over 20 years in the areas of mergers and acquisitions, corporate governance and general corporate law.

    “As CEO of Temasek Holdings, Dilhan will have the responsibility for the Stewardship role of Temasek, particularly in respect of Temasek’s Constitutional responsibilities to safeguard its own past reserves, as a Fifth Schedule entity. The Board looks forward to working with him, as the owner of those responsibilities, and will support him and his team in whatever ways needed,” Lim said in the company’s press statement.

    Lim also paid tribute to Ho Ching in the statement:

    “It is hard to call out Ho Ching’s many achievements, and there will be more time to do so before she retires later in the year. Perhaps above all else, Ho Ching will be recognised for her unwavering commitment to build Temasek as a trusted steward, committed to the highest standards of integrity and governance.

    She has laid out and consistently applied the standards we expect of companies, and of ourselves as an owner.”..”Unquote.

    Response : If time is good ,where got retire ?Better check out her salary per annum which is not $100 million but may be $$99 million or above $200 million ,who knows ? Something is not very right ! Another e*** b**$* woman HC retire ,is this another joke ? Wait till time is good ,and she may re-emerge again ? What is her retirement benefits ? Billions ????

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  • Peanuts way below mediocre....:

    The coffee shop owner walks into the pappy’s office. A cashew nut stuck in one of his ears, a peanut in the other ear, and a little carrot stuck in one nostril.
    The man asks, “Sir, this is terrible; what’s wrong with me?”
    The shocked MP replies “Well, first of all, you need to dress up more sensibly in formal meetings. Has your profession turned you into a vegetable or what?”
    “No sir, it’s your sky-high rentals – I’m gone nuts day and night worrying how to pay at month end. So a voice in my head says make a statement.”

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  • Talkcock king:

    “Highest standards of integrity and governance” with total secrecy on remunerations.

    Money in, garbage out.

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  • #06-195 Low Guai + old fool:

    High rents and Covid measures together make lots of vacant shop lots.

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  • #06-195 Low Guai + old fool:

    What I read about these shopping centers is that their cash box is wired to the lanlord’s office. So they are able to track how much the merchants are making.

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  • Next Gen:

    REIT are commercial companies, not state companies. REIT exist to make profit for shareholders, not for food operators. Food operators exist to make profit for themselves, any cost increase forced on them will pass to customers. Simple economic but sadly a phd in SDP don’t understand. Minimum wage policy is a inflation factor. When government forced on business, the inflation of country will burn like fire! Don’t play with fire! PAP will remain indispensable to Singapore for long long time because our opposition parties are far far from competence to rule Singapore.

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  • Shhh! Dont tell sgreans this:

    Dont tell singaporeans. Many of them because someone never tell them they dont know how to discern it themselves this:

    1. Financial crisis for so long, retail suffered for so long RENTALS still so High!.

    2. JOBLESS RATE reported so low its only a tad increased since covid started.
    Yet, the big focus and concerns on jobs reported in the media.

    If there is no big issue why the focus?

    So, guys and girls, please do not tell singaporeans these.
    Dont let them wake up.

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  • To Dr Chee:

    Just a shoutout to Dr Chee for contributing and helping those disagreeing with PAP policies.

    Also, my condolence to the passing of his mom which i only get to know yesterday while surfing the net.

    Its not the result like exam results but what is your effort made to help us that is a measure of your success.
    We appreciate it.
    Thank You!

    Your recent GE results is very respectable too! You should be proud!

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  • To the ordinary people:

    For so long, it has never changed as the people are all make to squeeze every drop of blood and sweat we have, there is the hard slogged education system, male Sinkie having to take on NS to defend this tiny dot, make to pay for life the “leasing” everything from having a flat, car, etc, contributing a huge chunk of our hard earned money to a pension fund that we do not know if we are going to get it back within our lifetime, etc…… People, pls remember.

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  • End Up, Public Pay More:

    Petrol prices increase by 20 cents yesterday. The prices of every items in Singapore will increase because these items will have to be moved from
    Point A to Point B and the movers have to pay more for petrol. So they will charge more for moving the items.

    PAP mentioned that Road Tax will be reduced accordingly. Who will benefit ? The private Car Rental Companies and the Taxi companies will benefit from this Road Tax reduction. Meanwhile the Private Hire Car drivers and the Taxi drivers will have to pay at least 5 dollars more per day for the petrol. It is unlikely the companies will reduce the car or taxi rental. So these drivers will have to work longer hours.

    PAP wants to increase Electric Vehicles. Good. But how many charging points do we have in Singapore ? How long dies it take to charge a vehicle (cars or buses) ? Its OK if it takes only 5 minutes.

    Now Indranee says we need to increase GST to cover cost of health. What about the 100 Billions that we take out from our Reserve ? Use it for the govt owned GLCs is it ?

    Now the PAP wants to implement Progressive Wage Model for the Food Industry. Good but everybody will have to pay more for food in future.

    How come they never think of other alternatives such as reducing the Rents or reducing the Ministers salaries by 50 per cent. Do the Ministers need so much to survive ? They are indeed very very greedy.

    Whatever plans they come out with, the public will end up paying more. Do you still want these PAP greedy people to screw your a$$e everyday ?

    If not then its time to kick them out in the nest GE. Diu Nia Seng.

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