Posts
The rapid influx of foreign workers up till the last General Election caused strains in our society in many ways and the PAP government learned the hard way that Singaporeans were unhappy.
Singaporeans "dealing with the strain on infrastructure resulting from the influx of foreign workers, had signalled that they were prepared to trade off a bit of growth in return for a reduction in immigration.
"Any elected government has to, at the end of the day, take into account and work according to the wishes of the people," Mr Shanmugam, Minister for Foreign Affairs and Law, said.
"... some of the service sectors, like restaurants, are feeling the pinch... "
(Source: The Business Times Weekend, July 6-7, 2013)
There could be pockets of relative strength in the F&B industry in Singapore and I believe Old Chang Kee is one such company.
Companies which run restaurants requiring big floor areas for diners, teams of waiters and waitresses, cooks and washing staff will face stronger headwinds over time.
Related posts:
1. Old Chang Kee: Almost 70c a share.
2. Soup Restaurant: Almost fully divested.
"In the financial year ended March 31, 2013, Tung Lok sunk deeper into the red with a net loss of $3.17 million... "
(Source: Tung Lok plans 2 for 5 rights issue, The Business Times Weekend, July 6-7, 2013)
Bloggy Award