CNBC: SG retailers margins being Squeeezed

[TheGreatWhite]

Soaring rents and electricity prices are squeezing Singapore retailers’ margins​

PUBLISHED WED, JUL 6 20228:59 PM EDT
Charmaine Jacob@CHARMAINEMJACOB
WATCH LIVE
KEY POINTS

• Retail businesses in Singapore are grappling with higher costs as rents rise and energy prices soar, the Singapore Retailers Association said.
• The surge in energy tariffs is mainly fueled by higher energy costs driven by “rising global gas and oil prices exacerbated by the conflict in Ukraine,” utilities company SP Group said.
• Song Seng Wun, economist at CIMB Private Banking, said rentals, labor costs and utility charges have all gone up, and it’s “hitting everyone” including retail businesses.
  
  Retail businesses in Singapore are grappling with higher costs as rents rise and energy prices soar, the Singapore Retailers Association said.
  Cost pressure is a big concern for many Singapore retailers which have not completely passed on price increases to consumers, and are currently feeling the “margin squeeze,” Ernie Koh, the association’s president told CNBC’s Street Signs Asia Tuesday.

 

[SBFNews]

Singapore is funny place..Hawker increase price, public and politicians kpkb. Landlord increase rental, it's justified.

 

[borom]

We all know who are the biggest landlords in Singapore-so why should their owners kpkb?
Sad that the first casualties are always the poor workers who are retrenched to cut costs while rentals keep going up -and what has NTUC been doing ?, opening up more business to challenge the SME's !

 

[TheGreatWhite]

We all know who are the biggest landlords in Singapore-so why should their owners kpkb?
Sad that the first casualties are always the poor workers who are retrenched to cut costs while rentals keep going up -and what has NTUC been doing ?, opening up more business to challenge the SME's !

Just increase price soon to make silly sinkies pay!

 

[laksaboy]

Don't forget the very famous water conservation tax: to help Sinkies conserve water.

If the PAP kleptocrats could implement an 'air conservation tax'. it would.

 

[syed putra]

Just reclaim more land to open up more spaces.

 

[gingerlyn]

I am not happy because cigarettes' price remains the same.
where is the logic

 

[Cottonmouth]

They can all close shop and sell online.