Sheng Siong rises rent at 5 wet markets by 30%
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Sheng Siong rises rent at 5 wet markets by 30%
By Sharon See | Posted: 23 March 2010 2000 hrsSINGAPORE: Stallholders at five wet markets will have to pay 30 per cent more in rent from next month.
They have been informed of the increase by supermarket chain Sheng Siong, which bought the markets over from a private property developer late last year.
The five wet markets are in Choa Chu Kang, Bukit Batok and Serangoon.
Currently, they pay about S$2,000 to S$3,000 in rent.
Many stallholders feel that the 30-per-cent increase is too high, and a few said they may even give up their businesses.
Some are thinking of passing the costs to customers but are also worried that this would hurt businesses, especially in the face of competition from other wet markets and supermarkets.
Sheng Siong said it had no choice but to increase rental rates, as it had to pay bank interest fees, property tax and maintenance fees after buying over the five wet markets for about S$25 million.
- CNA/yb -
There is alway reasons to increase the rent.
But, who ask SS to over bid the markets in the 1st place ?
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it is normal.
30% is so low
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That's "My Gold Digging Singapore"
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no surprise.
They offer 100x or 60x price money in their saturday variety shows, money must come from somewhere.
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all part of the plan............make the hawkers give up so Sheng Xiong image not tarnished.............if hawkers stay, the rent go to finance more buys from govt...............
who suffer? us consumers and hawkers.........
blame who? PAP mudder-farkers
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To kill off the small business. There will be no more wet markets for the hawkers.
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To kill off the small business. There will be no more wet markets for the hawkers.
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They are just following what the government is doing recently.
Hiking the prices of everything.
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