Supermarket group Sheng Siong intends to purchase a three-storey Housing and Development Board (HDB) commercial property in Tampines Central for S$65 million, it said in a statement on Monday (June 9). Sheng Siong said it has paid an option fee of S$650,000 for the 3,876 square metre leasehold property to the vendor, S-11 Wan Jin Investment. The property is near Tampines MRT station. The proposed...
Sheng Siong
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...
Some stallholders at the five wet markets hit by the rent hike from Sheng Siong have quit and are looking for cheaper premises. Two stallholders at a market in Choa Chu Kang are not carrying on due to the higher rent they have to pay from this month. It was a blessing in disguise for one of the stallholders. He found a cheaper place at a shop next to the market at 10 per cent less in rent. The contract...
SUPERMARKET chain Sheng Siong will not be allowed to convert the six wet markets it recently bought for other uses - even if all the stallholders move out. The Housing Board said in a statement yesterday that there is still demand for wet markets and it will ensure the needs of residents are met. The statement comes in the wake of a 30 per cent rental hike Sheng Siong imposed in five of the wet markets...
IN the light of concerns about the recent rent hike at five of Sheng Siong Properties' wet markets, the Housing & Development Board (HDB) has clarified its position on the issue. HDB says the five wet markets in question were purchased by Sheng Siong from Heeton Holdings on Jan 4. In approving the sale, HDB says it specified that the properties must continue to be operated as wet markets and made...
The Housing and Development Board (HDB) has assured residents that it will ensure that their marketing needs are met in the wake of the recent rent hike at five wet markets operated by Sheng Siong. The HDB said it has received feedback from local advisors and residents, expressing concerns over the rent hike. HDB said: "Besides these wet markets, there are also other markets and supermarkets...
AN APPEAL to supermarket chain Sheng Siong to reconsider raising rent from today has been rejected. In response to a letter from stallholders from the Serangoon Avenue 3 wet market last week, Sheng Siong's management said 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 added...
WORRIED by an impending 30 per cent rise in rents next month, stallholders at five wet markets owned by supermarket chain Sheng Siong are now figuring out their next moves. Several have said they will have no choice but to raise prices; others fear they may have to let helpers - usually family members - go; some say they have no choice but to pull out altogether. But contemplating their future is not the...
STALLHOLDERS at the five wet markets taken over by Sheng Siong last year will have to pay 30 per cent more in rent from next month. The stallholders at the five markets - in Serangoon, Bukit Batok, Fajar Road and two in Choa Chu Kang - were informed of the increase by the supermarket chain earlier this month. Stallholders The Straits Time spoke to said they were handed one-year contracts to sign....
Stallholders at five wet markets will have to pay 30 per cent more in rent from next month. They have been informed of the increase by supermarket chain Sheng Siong, which bought the markets over from a private property developer late last year. The five wet markets are in Choa Chu Kang, Bukit Batok and Serangoon. Currently, they pay about S$2,000 to S$3,000 in rent. Many stallholders feel that the...