I don't see a problem here as long as upfront payment of rental up to the amount sufficient to cover the furniture, because these type of india business man has no ethic and will run road anytime.
Singaporean is not business wise due to we brain wash by our Singapore school education and good social practice, we can't compete with China, Indian, Israelis...look at how much GIC/temasek lose in their investment. I am surprised our CPF can provide such good interest rate....not sure for how long....
