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Coffeeshop Chit Chat - Sheng Siong rejects stallholder appeals</TD><TD id=msgunetc noWrap align=right></TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt_89 <NOBR></NOBR></TD><TD class=msgDate width="30%" noWrap align=right>8:39 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right>(1 of 8) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"></TD><TD class=wintiny noWrap align=right>30953.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Sheng Siong rejects appeals from stallholders to scrap rental hike and seeks their “understanding”
April 1, 2010 by Our Correspondent
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http://www.temasekreview.com/2010/04/01/sheng-siong-rejects-appeals-from-stallholders-to-scrap-rental-hike-and-seeks-their-understanding/
Written by Our Correspondent
Malaysian supermarket chain Sheng Siong has rejected an appeal from Singapore stallholders not to increase the rentals by an astonishing 30 percent at the 5 wet markets it bought last year from HDB in a controversial sale.
The Straits Times reported Sheng Siong as saying that “the rental hike was ‘a decision made by our board of directors, after considering all factors, such as long-term and short-term costs and sustainability of the business model’.”
It claimed that the outcome is “inevitable” and sought the “understanding” of stallholders.
The increase means that they will have to pay about $2,000 to $4,000 in rent. The duration of their contracts was also reduced from two to one year.
As expected, it will be ordinary Singaporeans who will have to bear the brunt of the price increase and not big corporations like Sheng Siong.
Marine Marade GRC MP Seah Kian Peng told the Straits Times that he had written a letter to Sheng Siong to “reconsider” the rental hike and the shortened duration of the contracts.
It is unlikely that Mr Seah will get a favouravle response from Sheng Siong. Another MP Dr Teo Ho Pin who had earlier promised to help the affected stallholders at Fajar wet market “resolve” the matter has yet to comment on the issue.
The Singapore Democratic Party has taken Dr Teo to task for not doing enough to fight for the interests of the stallholders.
There are unverified rumors circulating in some internet forums that the son of one of Sheng Siong’s founder had just tied the knot with a daughter of a senior government leader.
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April 1, 2010 by Our Correspondent
Filed under Headlines
Leave a comment
http://www.temasekreview.com/2010/04/01/sheng-siong-rejects-appeals-from-stallholders-to-scrap-rental-hike-and-seeks-their-understanding/
Written by Our Correspondent
Malaysian supermarket chain Sheng Siong has rejected an appeal from Singapore stallholders not to increase the rentals by an astonishing 30 percent at the 5 wet markets it bought last year from HDB in a controversial sale.
The Straits Times reported Sheng Siong as saying that “the rental hike was ‘a decision made by our board of directors, after considering all factors, such as long-term and short-term costs and sustainability of the business model’.”
It claimed that the outcome is “inevitable” and sought the “understanding” of stallholders.
The increase means that they will have to pay about $2,000 to $4,000 in rent. The duration of their contracts was also reduced from two to one year.
As expected, it will be ordinary Singaporeans who will have to bear the brunt of the price increase and not big corporations like Sheng Siong.
Marine Marade GRC MP Seah Kian Peng told the Straits Times that he had written a letter to Sheng Siong to “reconsider” the rental hike and the shortened duration of the contracts.
It is unlikely that Mr Seah will get a favouravle response from Sheng Siong. Another MP Dr Teo Ho Pin who had earlier promised to help the affected stallholders at Fajar wet market “resolve” the matter has yet to comment on the issue.
The Singapore Democratic Party has taken Dr Teo to task for not doing enough to fight for the interests of the stallholders.
There are unverified rumors circulating in some internet forums that the son of one of Sheng Siong’s founder had just tied the knot with a daughter of a senior government leader.
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