Five tenants have signed on with Sheng Siong despite the 30 percent increase in rent at its wet markets from April, which saw 14 tenants leaving.
Two stalls at Yew Tee wet market were quickly snapped up after three tenants left.
Serangoon wet market saw two new tenants after the rental increase, while Fajar saw one.
Hawkers MediaCorp spoke to said their business can cover the increased rent, and they did not intent to adjust the price of goods just yet.
Sheng Siong said their prices are comparable with other wet markets.
Sheng Siong will continue to scout for new tenants to replace those who have left to keep the current rental fees stable.
Source : Channel NewsAsia – 17 May 2010