Serious SGX LATEST - Sakae Sushi Collapsing!

[johnny333]

Putting the Govt aside, we ourselves have also failed. As others have pointed out, our dependency on maids is mind boggling. Maids are not part of the equation for 95% of the people in 1st world countries.

How can you put aside the PAP gov't since they are the ones controlling everything in Spore? Sporeans are like mice in a maze & the PAP is the one controlling the maze.

The only way things will really change is if the PAP is kicked out. As long as a Lee or their surrogates are in power don't expect any real change.

I predict that Sporeans will be more open to the opposition in the next GE because even the very dense can see the unemployment & increasing costs . However I don't see it happening en mass. So Spore as a country is in trouble because the PAP will still be around causing damage.

 

[krafty]

ya man, my chinese friend who has been in s'pore for a while made an observation that the governance of the cuntry is based on 50% western and 50% communism. i find it true from the way they try to control how sinkies think and react after.:o

 

[nayr69sg]

How can you put aside the PAP gov't since they are the ones controlling everything in Spore? Sporeans are like mice in a maze & the PAP is the one controlling the maze.

The only way things will really change is if the PAP is kicked out. As long as a Lee or their surrogates are in power don't expect any real change.

I predict that Sporeans will be more open to the opposition in the next GE because even the very dense can see the unemployment & increasing costs . However I don't see it happening en mass. So Spore as a country is in trouble because the PAP will still be around causing damage.

Err johnny I remember you saying that in 2006 too.

Anyway I personally have been talking about this maid reliance and don't just blame PAP but blame Singaporeans for the last 7 years already.

Nothing is going to change because life in Singapore is not that bad yet. And by the time things are really very very bad it will be too little too late. Change government will not change things overnight. What is biggest problem is no longer the government but the people of Singapore.

I keep telling you guys. Go and do some grassroots volunteer work. Go attend those meet the MP sessions and see and hear for yourself what your average Singaporean is like.

I found out early on cos I was lucky. I meet them everyday in my work the average person. Singapore and Singaporeans are not worth fighting for. Absolutely.

Those of you who continue to stay there will forever regret not migrating. Your children and grandchildren will kpkb to you when you are old and comprain and comprain like the good Singaporeans they were brought up to be.

 

[halsey02]

How can you put aside the PAP gov't since they are the ones controlling everything in Spore? Sporeans are like mice in a maze & the PAP is the one controlling the maze.

The only way things will really change is if the PAP is kicked out. As long as a Lee or their surrogates are in power don't expect any real change.

I predict that Sporeans will be more open to the opposition in the next GE because even the very dense can see the unemployment & increasing costs . However I don't see it happening en mass. So Spore as a country is in trouble because the PAP will still be around causing damage.

The people are already "brain damaged"....you will still see an increase in PAP voters in the next election...we will see a natural or a great economic disaster created by the people whom the voters for, to make them come out of their stupor & that will be too late. If you can & many who can, prepare to leave here...ASAP, for the voting trend won't change...we will never see Singapore Great Again...we are slowly but sure, loosing our shine. We could count on the late LKY, like him or not....

 

[scroobal]

Take my mum for example. Lucid and clear of mind. Yet despite numerous attempts to tell her to vote in any opposition member I have failed for the last 4 GEs. Like her there is an entire generation that will vote for the PAP. The pioneer generation has convinced that PAP will looks after them. The Malays as community will vote the PAP because their is a quid pro quo arrangement. That leaves the Chinese and the Indians. The smart ones in this category will go into regulated professions where they can price themselves independently or enter business and chart their own destiny. The rest wait for Straits Times to tell them what to do.

Talk to the average Singaporean, their key priorites are as follows
- apply for flat and grant
- renovate with loan
- get maid even if no kids
- start building passive income - 90% will actually suceed without even discovering their full potential or know how to steer and develop in their vocation. By the way the many of those on passive income have rented their own homes out and live a frugal live as They have convinced themslevs it is desired virtue.
- go for annual holiday , first to Bangkok and then to Oz
- end of story

And the PAP knows it and has fully capitalised on it.

How can you put aside the PAP gov't since they are the ones controlling everything in Spore? Sporeans are like mice in a maze & the PAP is the one controlling the maze.

The only way things will really change is if the PAP is kicked out. As long as a Lee or their surrogates are in power don't expect any real change.

I predict that Sporeans will be more open to the opposition in the next GE because even the very dense can see the unemployment & increasing costs . However I don't see it happening en mass. So Spore as a country is in trouble because the PAP will still be around causing damage.

 

[scroobal]

Do agree with you bro.

The people are already "brain damaged"....you will still see an increase in PAP voters in the next election...we will see a natural or a great economic disaster created by the people whom the voters for, to make them come out of their stupor & that will be too late. If you can & many who can, prepare to leave here...ASAP, for the voting trend won't change...we will never saee Singapore Great Again...we are slowly but sure, loosing our shine. We could count on the late LKY, like him or not....

 

[halsey02]

Do agree with you bro.

No need to make a song & dance over, how good our PCF is in the eyes of the world...it is an illusion, how we are going to develop a cybersecurity etc....we can have our military equipments seize by a communist power without firing a shot, National Data base hacked, add to the MAS breach, SMRT accident, little india incident....just prove, how proficient we are...efficient...nah!..& it sends shivers, down your spine...think, how much of our blood, sweat & tears money is our CPF..in which, we can't touch...one day, it gets hacked!..scary.

I would like to repeat, I may not, do not & could not like the late LKY...but I could trust him.

 

[Pinkieslut]

Talk to the average Singaporean, their key priorites are as follows
- apply for flat and grant
- renovate with loan
- get maid even if no kids
- start building passive income - 90% will actually suceed without even discovering their full potential or know how to steer and develop in their vocation. By the way the many of those on passive income have rented their own homes out and live a frugal live as They have convinced themslevs it is desired virtue.
- go for annual holiday , first to Bangkok and then to Oz
- end of story
.

This business model works in the 90s because many MNCs opened here and mass hire Singaporeans (and prehaps Malaysian Chinese). Plus many GLCs and SMEs were growing on the back on supporting these MNCs (buildings,O&G, electronics, plastics). When US go into uncontrolled QEs (under Alan Greenspan), hot money were flooding in and Singapore a offshore banking (money launder and tax evasion) centre. Again many locals have it good finding jobs in numerous functions in banking (front to back offices).

Unfortunately that business model is becoming more and more difficult (ad nausem to explain what is going on in the world). Japanese MNCs have more or less collapsed and dwindled. The Western MNCs are at their last leg, becoming uncompetitive against Indian and Chinese companies. With their own economies collapsing, the MNCs try to save their own blood by parachuting angmos in the offices here (still with expensive expat packages allowing them to live high life but contribute not much except "managing" by spread-sheet), while hiring Indian and Pinoy "talents" who are young, easy to mould, and cheap.

The GLCs and local firms' traditional business model are losing competitiveness due to small Singapore market and unfriendly Asian markets. They are also undercut in home ground (Singapore) by offshore Asian competitors (especially from India) as a service provider to the MNCs here (where decision makes are now mostly Caucasians or Indians). Thus you see the continuing losses on all fronts, from hotels, retail, O&G engineering to commercial properties.

The asset enhancement strategy is also at its last leg with too many empty properties (not just in Singapore but around the world) sitting around, contributing zero value except to push rentals beyond the reach of small businesses and individuals. With communication and productivity technologies getting ever user friendly as well as advanced (cloud based software, consumer VOIP apps, etc), the need for huge centralized offices in Singapore are going down. For example, the huge Marina Bay Financial Centre was designed and built with the expectation of nternational banks expanding their back and middle offices. That is no longer happening with every bank downsizing, consolidating or selling off their overseas operations (for eg ANZ bank).

One very good indication is:
1. My old housing estate's hawker centre these days have extremely good business on both weekdays and weekends versus around mid 2000.
2. Crazy amount of discounts (email or online marketing) on both hotels and flights for the past half year.
3. Orchard Road empty of spenders (Singaporeans or Indons). Even the F&B are generally quiet on weekends.
4. No longer hear much about any large discos doing roaring business (like Zouk in 90s and early 2000).

It meant the locals are cutting expenses to bare minimum, the Indian and Pinoy FTs are saving as much as possible. Even Western expats complain about the drink prices and prefer to save for monthly trips to Bali or Phuket.

 

[aurvandil]

On the contrary, it was a huge success. It created a huge renewable PAP vote bank that can reliably keep PAP in power for the next 20 years. The HDB integration policy allows for deployment of this vote bank to areas of PAP weakness.Add in generous Pioneer Generation Packages to cement support among the pre-65 and you have an invincible electoral machine.

The population white paper debacle is clear that this Government has no idea what it is doing. The population policy is a key policy failure as it covers foreigners right across the work spectrum. It has failed to address issues such as qualifications, accreditation, CV validation etc.

 

[gingerlyn]

Sakae Holdings to close 6 more restaurants


Rising business costs have taken their toll on Sakae Holdings, operator of the Sakae Sushi chain, which has shuttered 10 of its 46 restaurants in the past few months.

The firm also has plans to cut six more by the first half of the year.

The listed company has been in loss-making mode over the last two years due to a sluggish economy and fierce competition in the food-and-beverage sector.

Its fourth-quarter net loss widened to $5.2 million from $4.7 million, while revenue fell 4.2 per cent.

The firm on Thursday said it made a provision of $3.4 million in its fourth-quarter results for the early termination of leases as it closes its non-performing restaurants.

But its founder, Mr Douglas Foo, remains "confidently optimistic" as the company is focused on growing the Sakae brand overseas.

While the number of its restaurants in Singapore will drop to about 30 this year, Sakae has 60-plus more in the region, including 40 in Malaysia.

This year, it will launch up to three restaurants in Myanmar. Sakae has another 80 associate restaurants in the region, in which it has a small stake.

"The Singapore market is very challenging because the general cost of operations, rentals and labour costs have gone up. But the other markets are much more stable," Mr Foo, who is also Singapore Manufacturing Federation president, told The Straits Times yesterday.

"We are also competing with a lot more F&B establishments, which have sprung up in malls as more retail shops close. But all global brands, be it McDonald's or Starbucks, go through the same rationalisation at some time."

 

[scroobal]

Right you are. What Was I thinking. That was the intention the whole time.

On the contrary, it was a huge success. It created a huge renewable PAP vote bank that can reliably keep PAP in power for the next 20 years. The HDB integration policy allows for deployment of this vote bank to areas of PAP weakness.Add in generous Pioneer Generation Packages to cement support among the pre-65 and you have an invincible electoral machine.

 

[scroobal]

The Sushi business models for chains outside Japan is very small outlets along high traffic areas with nodal area ktichens. The majority of th customers are takeaway variety as it is good stuff that can be eaten anywhere.

This guy got the model wrong and the food is not up to standard. Nothing to do with fierce competition. Being a grassroot leaders also means that feedback is always wrong because porlumpars give whT you want to hear.

Sakae Holdings to close 6 more restaurants


Rising business costs have taken their toll on Sakae Holdings, operator of the Sakae Sushi chain, which has shuttered 10 of its 46 restaurants in the past few months.

The firm also has plans to cut six more by the first half of the year.

The listed company has been in loss-making mode over the last two years due to a sluggish economy and fierce competition in the food-and-beverage sector.

Its fourth-quarter net loss widened to $5.2 million from $4.7 million, while revenue fell 4.2 per cent.

The firm on Thursday said it made a provision of $3.4 million in its fourth-quarter results for the early termination of leases as it closes its non-performing restaurants.

But its founder, Mr Douglas Foo, remains "confidently optimistic" as the company is focused on growing the Sakae brand overseas.

While the number of its restaurants in Singapore will drop to about 30 this year, Sakae has 60-plus more in the region, including 40 in Malaysia.

This year, it will launch up to three restaurants in Myanmar. Sakae has another 80 associate restaurants in the region, in which it has a small stake.

"The Singapore market is very challenging because the general cost of operations, rentals and labour costs have gone up. But the other markets are much more stable," Mr Foo, who is also Singapore Manufacturing Federation president, told The Straits Times yesterday.

"We are also competing with a lot more F&B establishments, which have sprung up in malls as more retail shops close. But all global brands, be it McDonald's or Starbucks, go through the same rationalisation at some time."

 

[Pinkieslut]

The Sushi business models for chains outside Japan is very small outlets along high traffic areas with nodal area ktichens. The majority of th customers are takeaway variety as it is good stuff that can be eaten anywhere.

This guy got the model wrong and the food is not up to standard. Nothing to do with fierce competition. Being a grassroot leaders also means that feedback is always wrong because porlumpars give whT you want to hear.

Douglas Fo think this Sinkie sushi brand has appeal overseas. Hahaha.

Have you been to Bangkok, Hong Kong and Taipei? Many of the sushi chains there anytime beat Sakae in terms of quality, service and price.

Now Japanese brands and restaurant chains are expanding aggrsssively overseas due to their shrinking population. You see their investments popping up in Vietnam, Indonesia, Cambodia and Burma. Do you seriously think 9th grade rubbish can hope to compete against the masters of sushi?

Malaysia consumer economy is stagnant with living costs going up Andy their currency collapsing. Doubt Malaysians will now splurge on some 9th grade Japanese food.

 

[bodycells]

Err johnny I remember you saying that in 2006 too.

Anyway I personally have been talking about this maid reliance and don't just blame PAP but blame Singaporeans for the last 7 years already.

Nothing is going to change because life in Singapore is not that bad yet. And by the time things are really very very bad it will be too little too late. Change government will not change things overnight. What is biggest problem is no longer the government but the people of Singapore.

I keep telling you guys. Go and do some grassroots volunteer work. Go attend those meet the MP sessions and see and hear for yourself what your average Singaporean is like.

I found out early on cos I was lucky. I meet them everyday in my work the average person. Singapore and Singaporeans are not worth fighting for. Absolutely.

Those of you who continue to stay there will forever regret not migrating. Your children and grandchildren will kpkb to you when you are old and comprain and comprain like the good Singaporeans they were brought up to be.

There is no need to do any PAP grassroot work and attend any MP session. Why do free work for a bunch of PAP cronies and losers. If you want to know what avg sinkies are like, just go to any coffeeshop and have a chat with the heartlanders there.

 

[Pinkieslut]

There is no need to do any PAP grassroot work and attend any MP session. Why do free work for a bunch of PAP cronies and losers. If you want to know what avg sinkies are like, just go to any coffeeshop and have a chat with the heartlanders there.

Correct. Just sit around coffee shop, open ones ears enough Liao. No need to go grassroots to understand their psyche.

 

[johnny333]

Correct. Just sit around coffee shop, open ones ears enough Liao. No need to go grassroots to understand their psyche.

I don't spend my time hanging around coffee shops. Been luckier than most Sporeans & had decent education & jobs. Most of my family & school mates have emigrated. When I was woprking many of my colleagues were talking about leaving. This was during a time before the recession.

I may not understand the attitudes of all of the HDB heartlanders but my impression is that things are really bad. Businesses are also suffering. They are closing or move out of Spore. This is not a short term thing but something that will probably continue until the next GE & even longer.

Sporeans like to complain but if this continues for years they are going to want to blame someone. This is human nature. Even LHL must know this as he has access to all the economic data that caused him to call for an early elections. I doubt that he has any ideas on how to improve things because he is even talking about retiring.

I am amazed at the stupidity of some Sporeans for supporting only one political party. Now all Sporeans & their children are going to suffer.

 

[chootchiew]

2016 Lost $13MILLION

$50MLLION MATURED DEBT!

ASSET LESS THAN $20MILLION

Morale of the story is know your limit and do not be greedy !

 

[Narong Wongwan]

Douglas Fo think this Sinkie sushi brand has appeal overseas. Hahaha.

Have you been to Bangkok, Hong Kong and Taipei? Many of the sushi chains there anytime beat Sakae in terms of quality, service and price.

Now Japanese brands and restaurant chains are expanding aggrsssively overseas due to their shrinking population. You see their investments popping up in Vietnam, Indonesia, Cambodia and Burma. Do you seriously think 9th grade rubbish can hope to compete against the masters of sushi?

Malaysia consumer economy is stagnant with living costs going up Andy their currency collapsing. Doubt Malaysians will now splurge on some 9th grade Japanese food.

Yes correct. The food is crap and to it's expensive (for that standard).
To be fair the guy got first mover advantage being one of the first due to his lucky association with ex jap partner. And his somewhat innovative conveyor belt did gave him some competitive edge. Likely his pap connections got him some preferential treatment too.
But all that is mostly gone as competitors move in with better biz models and most important better food.
Sakae is just like pap. Gone are the glory days but still clueless to change.

 

[Pinkieslut]

Yes correct. The food is crap and to it's expensive (for that standard).
To be fair the guy got first mover advantage being one of the first due to his lucky association with ex jap partner. And his somewhat innovative conveyor belt did gave him some competitive edge. Likely his pap connections got him some preferential treatment too.
But all that is mostly gone as competitors move in with better biz models and most important better food.
Sakae is just like pap. Gone are the glory days but still clueless to change.

I predict Sakae will collapsed by next year if they continue the desperate attempt to expand overseas to cover the losses in SG. They are already highly leveraged. If I am CFO would have recommend quick restructuring and rethinking the biz model. Otherwise what I see is a desperate attempt to package Sakae as a 'growth' company to look for potential buyers.

 

[halsey02]

I don't spend my time hanging around coffee shops. Been luckier than most Sporeans & had decent education & jobs. Most of my family & school mates have emigrated. When I was woprking many of my colleagues were talking about leaving. This was during a time before the recession.

I may not understand the attitudes of all of the HDB heartlanders but my impression is that things are really bad. Businesses are also suffering. They are closing or move out of Spore. This is not a short term thing but something that will probably continue until the next GE & even longer.

Sporeans like to complain but if this continues for years they are going to want to blame someone. This is human nature. Even LHL must know this as he has access to all the economic data that caused him to call for an early elections. I doubt that he has any ideas on how to improve things because he is even talking about retiring.

I am amazed at the stupidity of some Sporeans for supporting only one political party. Now all Sporeans & their children are going to suffer.

You don't worry...they are "loving it"!....most of my mates have migrated. I do eat with the "cream", as well as the "lesser mortals"...& do have a decent education & jobs & can say, I do have privileges when coming to jobs. I come from the generation, that, in order to earn their spurs, the forefathers make their offsprings , "rough it out" in the working world, before claiming that privilege...so, I have rough it out & know how the bottom feels & behaves...

My point is exactly I do not understand the stinkerporeans mentality...grumble, complain, gripr , %$#@@# & swear...& YET, TIME AFTER TIME, VOTE IN THE PAP & then, get screwed, shafted, blamed & kicked around...it is back to "grumble.....". In the next general election, it will be the same results..the PAP will win , with another "IMPROVED MAJORITY"....unless there is an earth shattering event that they have a reduced majority & that, we won't want to be around to witness it...for it will be either a natural or economic disaster...