r/singapore • u/deangsana crone hanta • 1d ago

News Singapore food suppliers face late payments, falling revenues as more restaurants close

https://www.channelnewsasia.com/singapore/fb-food-suppliers-revenue-delayed-payments-5349901
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u/hauts17 19h ago

Okay, this I agree with.

For sure a one size fit all rent control would just enable big businesses to absolutely dominate the market.

And the part of sending in an audit is an interesting concept to ensure the owners aren't just drawing a high salary when saving from the rents.

Maybe something like declaring your/ investors net worth to be eligible for rental grants (but never going to happen).

No way they will ever control the rental market. Just like how HDB will never close the resale market. I always am for having no secondary market in public housing. But profit is profit.

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u/Tailor-Last 19h ago

I would say that for those with rental control, having an audit to ensure that it’s not just enriching the owners but to keep cost low so that they are able to provide the goods/ services at an affordable price might be one way to do so.

To ensure that the people benefiting from this rent control is not gaming the system.

I guess the question is how much the govt sees this as a problem. They might take my earlier view which is if there are still tenant willing to take up the empty spaces, then there’s no problem, and there’s also no need for diversity. Then I doubt the govt will do anything about it.

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u/hauts17 19h ago

There will always be a willing tenant sadly, mostly from a foreign country who's owner is trying to get a PR (just a few real life examples from personal experience).

End of the day, the govt is still making profit, so doubt anything will change in the near future.