Going Back To Phase 2 (Heightened Alert) – SRA Appeals For Support
July 21, 2021The Retail industry has suffered tremendously in the past 16 months with sales plummeting to record lows – with sales down between 50% to 80% with each round of tightened restrictions. The ongoing pandemic and constant calls to stay home have eroded consumers confidence and gravely limited shopper traffic and sales, and yet retailers continue to have to pay full (and high!) rentals.
Going online as alternative means to generate sales has not been an easy ride and in fact, an expensive journey todate. Unlike other industry sectors, retail goods remain a discretionary buy which faces intense competition from online marketplaces globally and if passed on to consumers indiscriminately, it would only make us less competitive.
Business costs from all quarters have spiralled uncontrollably arising in the past year and continues to rise – rent, manpower, costs of goods and logistics – making it very challenging for almost all retail sub-sectors to sustain. Manpower shortage is dire both store front and backend (warehouse) and the competition for local employees has caused an artificial spiralling of salaries, further exacerbating the financial woes of retailers.
The return to Ph 2(HA) WEF 22 Jul especially the tightened restrictions on F&B operations (no dining-in for a almost a full month!) will have immediate and adverse impact on retail sales and as a discretionary purchase, the consequences are equally dire if not more.
We respectfully seek the Government to render the necessary assistance in the following areas with effect Thu 22 Jul 2021 as outlined below:-
• Mandate ALL Landlords to compulsorily extend a minimum 50% rental support for retailers throughout the duration of the Ph 2(HA)
• Extend to retailers the JSS at a minimum level of 50%
• Waive levies for foreign workers till 31 Dec 2021
• Extend the Moratorium on bank loans for a further period of at least 6 (six) months
SRA also appeal for the co-operation of all commercial and private landlords in Singapore to continue to extend your fullest support to your tenants in respect of proactive rental support and indulgence on late rental payments during this challenging period, and especially in their hour of need. We are in this together, and with your support, we will all survive and emerge stronger and better !
Signed by SRA Board of Council
1. Mr R Dhinakaran, SRA President (MD, Jay Gee Enterprises)
2. Mr Douglas Benjamin, SRA VP (COO, FJ Benjamin)
3. Ms Gan Siok Hoon, SRA VP (CEO, Telecom Equipment)
4. Mr Ng Whye Keong, SRA Treasurer (Group Director, Pet Lovers Centre)
5. Mrs Wong Sioe Hong, SRA EXCO (Executive Chairman, Metro)
6. Mrs Helen Khoo, SRA EXCO (Special Advisor, Wing Tai )
7. Mr Joshua Koh, SRA Secretary (CEO, Commune)
8. Mr Nelson Yap, SRA Councillor (Founder & CEO, Benjamin Barker)
9. Mr Udai Kunzru, SRA Councillor (MD, BHG)
10. Mr Lester Quah, SRA Councillor (Retail Director, Cold Storage)
11. Ms Serene Seow, SRA Councillor ( MD, Eu Yan Sang)
12. Mr Kenneth Aruldoss, SRA Councillor (MD, Harvey Norman)
13. Mr Alwyn Chong, SRA Councillor (MD, Luxasia)
14. Mr Pang Fu Wei, SRA Councillor (MD, Mothercare)
15. Ms Elaine Heng, SRA Councillor (CEO, NTUC Fairprice)
16. Mr Charlie Teo, SRA Councillor (CEO, OSIM)
17. Ms Pauline Ng, SRA Councillor (Founder & CEO, Porcelain)
18. Mr Jeremy Taylor, SRA Councillor (MD, SteveTay /Cash Converters)
19. Mr Ng Siak Yong, SRA Councillor (CAO, The Hour Glass)
20. Mr Jimmy Giam, SRA Council (ED, VisionLab Premium Eyewear)
#Ph 2(HA) #KTVCluster #retailsales #rentalsupport