Daily Analytical Report Summary

MTI

25 Sep 2014

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Tourism

Total comments: 11 (Small)

TODAYOnline Facebook Page (10 comments) - High costs could undo night race
https://www.facebook.com/permalink.php?story_fbid=10152424617137572&id=147858757571

TODAYOnline News (1 comment) - High costs could undo night race

https://www.facebook.com/permalink.php?story_fbid=10152424617137572&id=147858757571
http://www.todayonline.com/sports/motor-racing/high-costs-could-undo-night-race

On TODAYOnline News, it was reported that the recently concluded Singapore Grand Prix had
attracted world’s top industry leaders and became an opportunity for to global companies to negotiate
multiple deals in one setting. Paul Hemprey, motorsports director of Formula 1 tyre provider Pirelli,
reportedly mentioned that French company networked with institutional investors and partners from as
far away as New York during the Singapore Grand Prix. Jasper Donat of Brand Asia was noted to
have described the Singapore Grand Prix as “the biggest conference in Asia”, but warned against the
“high cost of hospitality” in Singapore which might prove to be counterproductive in the long term. He
reportedly mentioned that the country was making itself too expensive due to high prices of hotel and
food and beverage The story was shared on TODAYOnline Facebook Page.

<REVISED VERSION OF TRIGGER>

Most netizens agreed that Singapore had become very expensive city which affected the locals,
expatriates and recently, foreign investors. The Government was urged to bring the high cost of living
in the country. A netizen recommended removing the 20 per cent and 30 per cent levy for hotels in
order to decrease the rate. A few netizens expressed opposition towards the F1 race, stating that its
contract should not be renewed once it expired. A netizen mentioned that the countryun had already
achieved the intended outcomes of the F1 race in terms of enhancing the global popularity of
Singapore. A nother netizen, however, remarked that the F1 race could attract a wrong crown if the
Government reduced the price of commodities such as beer during the event.

<REVISED VERSION OF OPINIONS>

Economy

Total comments: 121 122(Small)

The Real Singapore Facebook Page (20 comments) - SG LIKELY TO SEE A 25% INCREASE IN
RENT FOR OFFICE SPACES BY 2019, HIGHEST IN ASIA
https://www.facebook.com/permalink.php?story_fbid=848493901862445&id=416856241692882

Petition to Remove Tin Pei Ling as a MP Facebook Page (3 comments) - SG LIKELY TO SEE A 25%
INCREASE IN RENT FOR OFFICE SPACES BY 2019, HIGHEST IN ASIA
https://www.facebook.com/RemoveTPL/posts/721272484606138

On The Real Singapore Blog, it was reported that office rental cost in Singapore would likely
increased by 25 per cent in 2019 and would be the highest in Asia according to a report by property
consultant firm Knight Frank. It was noted that due to limited land and rising demand, the current
percentage of office spaces in Singapore of about 10.3 per cent likely decrease to about 7.7 per cent
by 2019. It was mentioned that another factor which can increase office rental price according to
Knight Frank was the positive business sentiment and high confidence in the stability of Singapore
which would attract more companies to set up in the country. It was noted that the increase in rental
spaces would likely add to the business cost and contribute to higher cost of living in Singapore which
would be passed on to consumers. The story was shared on The Real Singapore Facebook Page and
Petition to Remove Tin Pei Ling as a MP Facebook Page.
<REVISED VERSION OF TRIGGER>.

Netizens expressed disapproval towards the Government for the high rental cost in the country which
affected both businesses and individuals. They mentioned that a many businesses had been closing
down or relocating from Singapore due to high office rent. A few netizens warned against possible
economic depression if businesses left and foreign labours were sent back to their countries of origin.
A netizen urged the Government to reduce the rental by 25 to 35 per cent. A few netizens also raised
dissatisfaction towards the Government for allegedly lowering the business cost by allowing the entry
of foreign labours, thus, suppressing the wages, instead of reducing rental cost by regulating the
commercial REITs.

Netizens expressed disapproval towards the Government for the high rental costs in the country,
which were seen to affect both businesses and individuals. Some mentioned that many businesses
had been closing down or relocating away from the country due to rental costs. Several mentioned
that further increases in rental could push wage rates to drop as business opt to hire more foreign
workers. A few also speculated about a possible economic depression if businesses left the country
and foreign workers were sent back to their countries of origin.
<REVISED VERSION OF OPINIONS>
Fabrications Led by Opposition Parties Facebook Page (9 comments) - TRS, it's 25% increase in rent
for OFFICE SPACES! How is it gonna contribute to the cost of living for young Singaporeans?
https://www.facebook.com/permalink.php?story_fbid=721818211188819&id=430232843680692

Referring to a report from The Real Singapore Blog that office rental space in Singapore would likely
increase by 25 per cent in 2019, pushing business cost and affecting consumers, the administrator of
the Fabrication Led by Opposition Parties Facebook Page asked how the purported 25 per cent
increase in office rental space could contribute to the cost of living of young Singaporeans.

REVISED VERSION OF TRIGGER

Netizens expressed mixed insight towards the purported impact of rising office rental space to the
cost of living. Some netizens believed that companies would respond to a rising business cost by
passing the cost to consumers, lowering operation cost by reducing the wages of workers. Some
netizens, however, remarked that an increase in office rental was different to an increase in labour or
shop rental cost to have direct impact to consumer products and cost of living. A netizen also
mentioned that workers’ salary was dependent on supply and demand, not on savings from lower
rent. Accordingly, a netizen noted that higher cost would force businesses to increase productivity,
invest less in land, and promote schemes such as working from home with higher salary.

REVISED VERSION OF OPINIONS

HardwareZone Forum (5759 comments) - Nowadays things getting more expensive sia...
http://forums.hardwarezone.com.sg/eat-drink-man-woman-16/nowadays-things-getting-more-
expensive-sia-4822792.html

On HardwareZone Forum, “tecnica” claimed that things were getting more expensive nowadays. He
cited the cost of a chicken set of Nasi Lemak at $3, and mentioned that a couple of years back he
could pick another 2 dishes for the same price. It was also noted that price of fish soup increased to
$4.50 from $4. The netizen wondered whether it was the cost of rental or ingredients which brought
the rising food prices.

REVISED VERSION OF TRIGGER

Netizens agreed that food prices had been increasing. A few also mentioned that together with food
price increase, food portion and quality had also been diminishing. A netizen remarked that a 3-dollar
meal was considered cheap nowadays. Another mentioned that fish soup now normally cost around
$4.50 to $5. He mentioned, however, that non air-conditioned hawkers in China Town would sell it
lower.

Most netizens believed that high rental cost was the primary reason of the increase in food prices. A
netizen remarked that rental was “sky high” die to coffeeshop owners using the “market rate” as the
basis of rental increase. Some netizens also looked at increases in COE price, toll fee and cost of
renovation as other factors behind rising inflation. A netizen shared that some logistic companies had
increased their prices by 3 folds amid the rumoured toll hike.

REVISED VERSION OF OPINIONS

HardwareZone Forum (32 31 comments) - WHY DOES MILK POWDER/ BABY ITEMS COST SO
EXPENSIVE IN SINGAPORE?
http://forums.hardwarezone.com.sg/eat-drink-man-woman-16/why-does-milk-powder-baby-items-cost-
so-expensive-singapore-4822551.html

On HardwareZone Forum, “MoyoCase” asked the reason behind the expensive price of milk power
and baby items in Singapore. He mentioned that the price of milk power had increased from $56 per
can in 2008 to $104 this year.
REVISED VERSION OF TRIGGER

Netizens agreed that the prices of milk powder particularly the imported ones were very expensive in
Sinagpore. A few attributed the rising cost of milk power to huge global demand but low supply in the
market brought by “poisoning milk powder” controversies in China. A few urged netizens to breastfeed
to avoid paying higher cost for milk powder. A netizen remarked that the high cost of milk powder as
well as other baby items and child care services in the country had dis-incentivised parents to raise a
child, negatively affecting the country’s population. Another netizen, however, mentioned that
Singapore’s low tax would offset the high price of imported milk powder. It was noted with disapproval
that prices of items in Singapore were not set by cost plus model, rather by maximum willing price
method.
REVISED VERSION OF OPINION
SME

Total comments: 32 (Small)

Channel NewsAsia Singapore Facebook Page (32 comments) - Majority of local SMEs have trouble
promoting productivity: Survey
https://www.facebook.com/ChannelNewsAsiaSingapore/posts/10152376032742934

On Channel NewsAsia News, it was reported that results of a survey of 3000 small and medium
enterprises (SME) conducted by Singapore Business Federation (SBF) in 2013 revealed that about
88 per cent of companies confronted challenges in promoting productivity. The SBF reportedly
attributed the findings to the lack of right manpower in these SMEs. The said survey also reportedly
found that 85 per cent of companies were concerned about labour costs. On tapping IT to raise
productivity, the survey also reportedly revealed that 86 per cent of companies had seen improvement
in productivity within the first year of utilizing IT. The story was shared on Channel NewsAsia
Singapore Facebook Page.
REVISED VERSION OF TRIGGER

Netizens shared various insights on the reasons behind SMEs’ low producitivty. Some mentioned that
SMEs’ continuous dependence on cheap foreign labour to lower business cost, and its reluctance to
invest in technology had made them unproductive. A few remarked that SMEs’ inability and
unwillingness to increase salaries and give work life balance to employees as well as its
discriminatory hiring practices had shunned away locals to work with them. A few also attributed the
low productivity of SMEs to the weakness of its bosses to lead and motivate employees, and lead
companies towards the path of productivity. The Government was urged to give managerial trainings
to SME bosses on how to improve productivity of its subordinates. It was also recommended
increasing the Government financial assistance to SMEs in order for them to attract skilled-talents,
streamline business process and train their employees. A netizen stressed that SME’s lack of
resources had caused them “to do things the old way”. Accordingly, another looked at academic
institutions, and asked whether they followed an industry-recognised curriculum in order to ensure
that their graduates were ready for employment.

REVISED VERSION OF OPINIONS

Buzz

Small = Below 200

Medium = 200 - 400
Large = Above 400

*Buzz refers to the number of posts captured by keyword matches

*Total comments is based on actual number of posts from significant conversations elaborated in the
report
*No. of netizens is based on posts captured by keyword matches only

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