$500000 monthly rental for SENGKANG MARKET

last SG · 2009-04-05T14:15:23+00:00

Maybe part of their rental plans is similar to like at vivocity, part of their profits go to lease owner.

zenden9 SG

Show yr silence protest to this unncessary inflation.

I live in Jurong and I will boycott those expensive food. Some say they have no choice cos they have no transport and going to other place to eat will mean additonal transport fee and time.

That is why I take up cycling. First to show my displeasure of rising public transport fee. I curb down on taking feeder bus to MRT. With my own cheap transport, I am not limited just to nearby area for my selection of groceries and food.

I will only eat at places selling food at reasonable price and let those expensive food stall rot.

Now I start to notice many stalls in Jurong point selling cheap food(Nasi Lemak $2, Chikcen rice $2). My home is not very near to Jurong point but will only take a 10mins cycling to reach there.

Business for these cheap food stall are good. And hell to those food stall selling expensive food.

alwaysdisturbed SG

but then arh, those selling $2 stuff, the portions are really very microscopic.

caleb_chiang SG

Well, can chose not to eat there and go other place if you guys want...

zenden9 SG

but then arh, those selling $2 stuff, the portions are really very microscopic.

Not really. They are enough to fill yr stomach.

alwaysdisturbed SG

Not really. They are enough to fill yr stomach.

enough to fill my stomach to last for an hour.

the Bear SG

Contract is always offered to the highest tender, maybe is kopitiam overbid?

alwaysdisturbed SG

market leh. give it to the highest bidder. end up who pays the most?

Hello Kitty SG

Strange that SPEAKER CORNER does not accept this thread.

According to zaobao,

http://www.zaobao.com/sp/sp090331_520.shtml

Kopitiam was awarded the tender for rental of SENGKANG MARKET at a monthly rental of $500 000. SENGKANG MARKET is expected to have 40 wet market stall, 10 dry sundry stall, 50 cooked food stall.

So $500 000 a month, it means KOPITIAM must collect at least $5000 per month from each stalls! That's obscene.

Going to NEA website, even cooked food stall in Maxwell won't fetch $5000 a month. Moreover a dry and wet market stall would normally fetch $800....

Who should be blamed for the rising cost of living? KOPITIAM or HDB? For those who feel that Singapore tax little on our income, do think twice.

Or course your indirect tax will be higher if you stayed in SENGKANG.

Can we say no to KOPITIAM? What's wrong with current scheme of having HDB/NEA owning the Markets and Food Centres?

I am glad I stayed near 2 upgraded markets where the coffee stalls there still charged a cup of coffees at 60cents.

here's the recent tender results from NEA website..

-----------------------------------

BLK 724 ANG MO KIO AVE 6 01-97 PROCESSED RAW SEAFO0D LAU MOOI KIOU $ 428.00

BLK 511 BEDOK NORTH ST 3 01-49* PIECE & SUNDRY GOODS CHING HOON YIN $ 750.00

MAXWELL FOOD CENTRE K002** CUT FRUITS / FRUIT JUICES

CHANG CHEN MING (ZHANG

ZHENMING)

$ 1,601.00

MAXWELL FOOD CENTRE 063 COOKED FOOD ZAINUDDIN BIN SAJAT $ 2,258.00

-------------------

wow, me din knw stalls acherly so cheep de.

so whr u live huh?

the Bear SG

Originally postedy by alwaysdisturbed: market leh. give it to the highest bidder. end up who pays the most?

You are right... I'll write in and ask them to change their policy.

lianamaster SG

Show yr silence protest to this unncessary inflation.

I live in Jurong and I will boycott those expensive food. Some say they have no choice cos they have no transport and going to other place to eat will mean additonal transport fee and time.

I will only eat at places selling food at reasonable price and let those expensive food stall rot.

Now I start to notice many stalls in Jurong point selling cheap food(Nasi Lemak $2, Chikcen rice $2). My home is not very near to Jurong point but will only take a 10mins cycling to reach there.

Business for these cheap food stall are good. And hell to those food stall selling expensive food.

Yea..agree... must save....

Rock^Star SG

this highest bidder nonsense has to stop. The 2nd highest bidder only bid at near $300k. Now this highest bidder comes in with 500k and HDB laughs all the way to bank.

Have they no thought on how this would have an effect on inflation?

alwaysdisturbed SG

You are right... I'll write in and ask them to change their policy.

谢谢.

iamgoondu SG

wow, me din knw stalls acherly so cheep de.

so whr u live huh?

I stayed near HollandV. 60 cents refer to kopi-o not kopi.

iamgoondu SG

Is the rental base on people submitting how much they are willing to pay, and the highest bidder wins? Or is the rental based on a fixed amount?

So the money is based on free market? Or is it because of government control?

For this tender, it was awarded to the highest bidder. And Kopitiam has submitted the highest bid, monthly rental at $500000.

Unfortunately, Kopitiam refused to comment why they submit such outrageous bid (sunday times on 5 Apr).

iamgoondu SG

Show yr silence protest to this unncessary inflation.

I live in Jurong and I will boycott those expensive food. Some say they have no choice cos they have no transport and going to other place to eat will mean additonal transport fee and time.

I will only eat at places selling food at reasonable price and let those expensive food stall rot.

Now I start to notice many stalls in Jurong point selling cheap food(Nasi Lemak $2, Chikcen rice $2). My home is not very near to Jurong point but will only take a 10mins cycling to reach there.

Business for these cheap food stall are good. And hell to those food stall selling expensive food.

True we can choose not to patronize the stalls or Kopitiam, however are we being deprived of an essential amenity? And what will be the effect on this rental price, food prices have on other food stalls, coffee shops in Seng Kang?

If HDB use this as benchmark, next time HDB will claim that they had provided 'SUBSIDY' at $3000/month to all market stalls in SIngapore.

Seng Kang is a residential township, high bids which translate to high rentals and high food prices will indirectly affect many residents there.

laurence82 SG

even more than rental shops in orchard road?

wtf

alwaysdisturbed SG

just a matter of time.

eagle SG

1) Sengkang is a high density area, with MRT, LRT, Bus interchange, as well as SingHealth polyclinic and big shopping mall. So naturally, it will have a slight premium.

2) Carpark lots are going to be built. And depending on the number of lots, it can fetch quite an amount.

3) Kopitiam can sell premium advertising space. And this can further help offset the amount.

4) Kopitiam might go for lower profit margins in an attempt to increase market capitalisation.

5) We wouldn't know if kopitiam has any other creative ideas to earn other than charging high rental.

In short, everything is just speculation. So... why bother and complain so much when nothing much has been finalised?

skythewood SG

For this tender, it was awarded to the highest bidder. And Kopitiam has submitted the highest bid, monthly rental at $500000.

Unfortunately, Kopitiam refused to comment why they submit such outrageous bid (sunday times on 5 Apr).

I think they bid high because they are confident they can make the money back, and underestimate the competitor's bidding...

But they are an established company, not some random guy who anyhow bid, so i am sure they have a plan to make this work. If no plan, and they lose moeny, they are always welcome to give up and cut their losses....

iamgoondu SG

1) Sengkang is a high density area, with MRT, LRT, Bus interchange, as well as SingHealth polyclinic and big shopping mall. So naturally, it will have a slight premium.

2) Carpark lots are going to be built. And depending on the number of lots, it can fetch quite an amount.

3) Kopitiam can sell premium advertising space. And this can further help offset the amount.

4) Kopitiam might go for lower profit margins in an attempt to increase market capitalisation.

5) We wouldn't know if kopitiam has any other creative ideas to earn other than charging high rental.

In short, everything is just speculation. So... why bother and complain so much when nothing much has been finalised?

1. Maxwell market is just located in an high dense area. And their rentals defintitely do not fetch such highs.

2. So Kopitiam owns the Carpark lots? And Kopitiam collect the monies from Car Park as well? This is something new and not report in paper.

Shouldn't car park lots to be built only if there is a demand? If people shun that premises, perhaps HDB can forgo the plan of building that car park.

3. Wow, why won't HDB/NEA sell their advertising space in all MARKETS/FOOD CENTRES? There are many MARKETS located in much more premium locations such as Maxwell, Holland V, and I yet to see any advertising space being built up.

I believe advertising space are been governed by some advertising regulations, else the whole advertising industry will tank.

4. Yup lower profit margins? But how low a plate of chicken rice a stall can sell, if he has high overheads to cover? At present chicken rice selling at $2.5 in normal food centre stall whose monthly rental averages $2000. Extrapolate the data, in Seng Kang Kopitiam, a plate of chicken rice may be at $5. And for lower profit margin, perhaps $4.5.

5. Oh yes, charge for the toilet, maybe 20cents per entry. Charge the stall owners high in maintenance fees, in plate collecting service, in table cleaning service.., and all these may be $500 per stall. And with that perhaps Kopitiam charges the stall at $4.5k rental instead.

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