Far out: Singapore companies flee to the suburbs

Article Abstract:

Singapore companies eager to lower their soaring rent costs are moving operations to new financial parks and other suburb centers, though the pace of change is slow. Office space in the elite Raffles Place in downtown Singapore jumped from S$5.50 per sq ft in early 1994 to S$10 in late 1995, but outlying centers cost only S$6, and more amenities are arriving to help them compete in other ways. Inconvenience remains a problem despite advanced telecommunications, and a downtown address carries undoubted prestige.

Business parks

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Paradise lose: retailing

Article Abstract:

Singapore's retailers are suffering from a combination of forces that may cut sales per sq m by 10% in 1995 after a flat 1994, with conditions unlikely to improve soon. Rents in prime areas are four times as much as those seen in similar sections in Kuala Lumpur or Bangkok. A glut of stores makes it harder to attract shoppers, and 5.4 million sq ft of space are expected by 1997. Local shoppers seem bored, and they and visitors are spending less, perhaps in response to the Singapore dollar's strength.

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Their finest hour: Singapore watch store exploits a niche

Article Abstract:

Despite a weak retail market, some stores and chains in Singapore report strong increases in both sales and profits. The Hour Glass focuses on the niche of expensive watches, averaging S$5000 per sale, and on strong service with close attention to customers. The company also has 15 boutiques elsewhere in Southeast Asia and has diversified both vertically and into other businesses. Other successful Singapore retailers include the Robinson department store and stores selling home furnishings.

Management, The Hour Glass

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