Mustafa boss' luxury home is 10 storeys tall

[Jah_rastafar_I]

He ventured into online selling and got burnt bad.
Internet scanners cleaned him out of tens of millions.

Damn good news to hear a cheapo shit skin Kenna this

 

[scroobal]

There has to be a story behind this as he normally gets his way. UOB are his main banker with substantial exposure and he treats them like Ah Long. He must have sort of stake in the building or the landlords company. He does not even trust his staff unless they are family.

I am pretty sure that Mustafa is still renting the premises at Syed Alwi Road - I know that he tried to buy the premises during the late 80s and 90s but the owners refused to sell - if I am not wrong the owners are the same ones who own the building across the road as well. He tried to move his operations to another mall, The Verge but it did not work out so he stayed put in Syed Alwi Road because when he threatened to move the landlords stayed firm and asked when we wanted to move out so they could find another tenant- the Verge is probably surviving from the rent Seng siong is paying now. Remember the big hullabaloo when Mustafa announced 24hrs shopping - stroke of business genius as it helped slot of hardworking singkies still get their household shopping done at flexible hours.

 

[GoldenDragon]

He is the sinkie version of Sam Walton.
Love or loathe mustafa as shopping place but Kudos to him a sinkie for making it.
No similar praise for Sheng Siong the homegrown crony business.

Is he in the Top 50 richest in S'pore?

 

[zeddy]

Yes, lots of PRCs employed to handle their countrymen and women. Wonder if any marriages between the PRCs and Indian staff there.

Uncle GD, if there are lots of Ah Neh males in a work place, I guess there are also a lot of unreported sexual harrasments going on inside their store rooms..

 

[GoldenDragon]

Uncle GD, if there are lots of Ah Neh males in a work place, I guess there are also a lot of unreported sexual harrasments going on inside their store rooms..

Very likely. May include unreported rape cases too.

 

[Narong Wongwan]

Is he in the Top 50 richest in S'pore?

Which one?
Incidentally both are.....lim hock chee at #35 spot and mustafa at #37....net worth around 200 million each

 

[Primus]

who cares about this pundek.

 

[GoldenDragon]

Which one?
Incidentally both are.....lim hock chee at #35 spot and mustafa at #37....net worth around 200 million each

I think they should be worth more than that. Maybe 500 million each.

 

[zeddy]

Very likely. May include unreported rape cases too.

Used to know these 2 PRCs Meis Meis working there manning the cosmetic sections... Both quit because they can't tahan their male Mama colleagues from India giving them the menacing glances during their break times.. One of them even received a dinner date request from her supervisor... She cleverly turned down the offer..

 

[gatehousethetinkertailor]

With his wealth etc,,he can easily buy a plot of land and and build a new mall,,,than if he moves the current landlord will be Fucked,,,,I bet the landlord will be forced to sell than...that area for the building besides the mall what else can the building be used for?

Landlords have been trying to sell for a while now - mixed use development - if you look across the road the new hospital is going to open soon - the building in front of Mustafa is also earmarked for sale - once Serangoon Plaza is sold the whole area will be changed quite dramatically - ayah you been in Singapore long enough to know that nothing stays the same - just because the ah nehs are there now does not mean they will be congregating there in 10 years time - everything changes what - the whole serangoon/jalan besar area will be changed eventually.

 

[gatehousethetinkertailor]

There has to be a story behind this as he normally gets his way. UOB are his main banker with substantial exposure and he treats them like Ah Long. He must have sort of stake in the building or the landlords company. He does not even trust his staff unless they are family.

I will ask those in the know - he has always been a very humble chap despite his monopoly - however his "hypermarket" approach is not novel or unique to South Asians - in the Middle East there are similar stores owned by Keralites - Lulu Hypermarket and Mega Mart are but two common household names - they have branches all over the Gulf and are billionaires:

http://uae.luluhypermarket.com


- the small Singapore market probably tempered Mustafa's ambition - the familiarity of hypermarkets also contributes to why many South Asian shoppers flock there on their holidays. He is a "national tourist institution" in that regard. He catered to a segment of the market that was probably undervalued and under appreciated in terms of spending power - forget the smells looks etc - they spend money and are repeats because of brand loyalty - look at the number of Chinese vendors flogging their wares nowadays on Sundays in Serangoon Road.

 

[PoliticalDialogue]

I am pretty sure that Mustafa is still renting the premises at Syed Alwi Road - I know that he tried to buy the premises during the late 80s and 90s but the owners refused to sell - if I am not wrong the owners are the same ones who own the building across the road as well. He tried to move his operations to another mall, The Verge but it did not work out so he stayed put in Syed Alwi Road because when he threatened to move the landlords stayed firm and asked when he wanted to move out so they could find another tenant- they called his bluff - the Verge is probably surviving from the rent Seng siong is paying now. Remember the big hullabaloo when Mustafa announced 24hrs shopping - stroke of business genius as it helped lots of hardworking singkies still get their household shopping done at flexible hours.

All the online references suggest otherwise, including this one:

"Halfway through the 1980’s, Mustafa’s moved to a larger rented space in Serangoon Plaza after the government said that the current building was to be conserved. After the rent at this location shot up by 70 percent, Mustaq made the decision that it was time Mustafa Centre did away with paying rent. He bought 20 shophouses on Syed Alwi Road and converted it into a 75,000 square feet department store with a 130 room hotel. Though this location was opened in April 1995, it only became a 24 hour store in 2003. Today, Mustafa Centre, which has expanded to the building across Verdun Road, houses a supermarket, a jewel mart, a pharmacy, postal services, money-changing services, travel services, and carries over 150,000 products ranging from electronics to Iranian dates. Mustafa has also reopened a branch at Serangoon Plaza after its renovation in 2004. Collectively, the stores bring in an annual turnover of $302 million."

 

[Jah_rastafar_I]

Used to know these 2 PRCs Meis Meis working there manning the cosmetic sections... Both quit because they can't tahan their male Mama colleagues from India giving them the menacing glances during their break times.. One of them even received a dinner date request from her supervisor... She cleverly turned down the offer..

I have noticed something about such retail stores is why is the female staff a non Indian say a Chinese or malay, Pinoy but mostly Chinese and the male has to be a shit skin.

 

[Jah_rastafar_I]

I will ask those in the know - he has always been a very humble chap despite his monopoly - however his "hypermarket" approach is not novel or unique to South Asians - in the Middle East there are similar stores owned by Keralites - Lulu Hypermarket and Mega Mart are but two common household names - they have branches all over the Gulf and are billionaires:

http://uae.luluhypermarket.com


- the small Singapore market probably tempered Mustafa's ambition - the familiarity of hypermarkets also contributes to why many South Asian shoppers flock there on their holidays. He is a "national tourist institution" in that regard. He catered to a segment of the market that was probably undervalued and under appreciated in terms of spending power - forget the smells looks etc - they spend money and are repeats because of brand loyalty - look at the number of Chinese vendors flogging their wares nowadays on Sundays in Serangoon Road.

One important factor doing business to them you need to be one of them.

 

[zeddy]

I have noticed something about such retail stores is why is the female or non Indian say a Chinese or malay, Pinoy but mostly Chinese and the male has to be a shit skin.

Jah, they are very clever in hiring these PRC Mei Meis as their sales assistants.. No sane local Minah or Ah Lian would want to work at Mustafa Ctr.. Even a Pinay promoter from GNC that I once shagged requested a change of location from her manager after she was sent to Mustafa to promote GNC products..

 

[gatehousethetinkertailor]

All the online references suggest otherwise, including this one:

"Halfway through the 1980’s, Mustafa’s moved to a larger rented space in Serangoon Plaza after the government said that the current building was to be conserved. After the rent at this location shot up by 70 percent, Mustaq made the decision that it was time Mustafa Centre did away with paying rent. He bought 20 shophouses on Syed Alwi Road and converted it into a 75,000 square feet department store with a 130 room hotel. Though this location was opened in April 1995, it only became a 24 hour store in 2003. Today, Mustafa Centre, which has expanded to the building across Verdun Road, houses a supermarket, a jewel mart, a pharmacy, postal services, money-changing services, travel services, and carries over 150,000 products ranging from electronics to Iranian dates. Mustafa has also reopened a branch at Serangoon Plaza after its renovation in 2004. Collectively, the stores bring in an annual turnover of $302 million."

I am pretty sure that the landlords have a hook in Mustafa because The Verge was initially meant to house the new Location for him - I will have to check as I have not followed this for a while but only coincidentally heard about plans for the area last week because of the upcoming hospital across the road. I can't remember whether he bought those shophouses because of his fallout from The Verge.

Has this government been known to stay firm for conservation reasons? Wah Singapore in 1995 and Singapore in 2014 are not the same leh...

 

[zeddy]

I am pretty sure that the landlords have a hook in Mustafa because The Verge was initially meant to house the new Location for him - I will have to check as I have not followed this for a while but only coincidentally heard about plans for the area last week because of the upcoming hospital across the road. I can't remember whether he bought those shophouses because of his fallout from The Verge.

Has this government been known to stay firm for conservation reasons? Wah Singapore in 1995 and Singapore in 2014 are not the same leh...

More money coming his way when the new hospital across the road is officially open..

 

[virus]

Jah, they are very clever in hiring these PRC Mei Meis as their sales assistants.. No sane local Minah or Ah Lian would want to work at Mustafa Ctr.. Even a Pinay promoter from GNC that I once shagged requested a change of location from her manager after she was sent to Mustafa to promote GNC products..

there's one chinese pharmacist there but she's one farktard

 

[Narong Wongwan]

Jah, they are very clever in hiring these PRC Mei Meis as their sales assistants.. No sane local Minah or Ah Lian would want to work at Mustafa Ctr.. Even a Pinay promoter from GNC that I once shagged requested a change of location from her manager after she was sent to Mustafa to promote GNC products..

I concur....a Thai babe I know working for western union also requested to change location after she was posted to little India opposite mustafa

 

[gatehousethetinkertailor]

One important factor doing business to them you need to be one of them.

Indeed - not sure whether people realised that in Queensway Shopping Centre in the 80s, Royal Sporting House owned 3 stores - one under the RSH name and two others under different names but staffed differently - one had exclusively Chinese staff, the other had more Malay staff and RSH had all including the owners at the till....catered to all prejudices but all went into the same pocket - they had bought all three units quite cheaply so rentals were not an issue - not sure if they still own the other two after selling out RSH