Two new EC sites will bring total supply for 2025 to nearly 2,000 units, the highest since 2014
The Singapore government will put up 10 private residential sites under the Confirmed List for sale for the second half of the year. This includes two executive condominium sites — Woodlands Drive 17 and Miltonia Close — which can yield up to 990 units. This increases the total number of EC plots in 2025 to five. Altogether, the five EC sites can yield nearly 2,000 units — the highest since 2014. While ECs appeal to those wanting to upgrade from HDB units, it may actually be driving up the prices of mass-market condos. Nikhil Khattar reports.
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CNA
3 hours ago
- CNA
Commentary: Why Chinese F&B companies are expanding in Indonesia
SINGAPORE: In the past decade, China's food and beverage (F&B) firms have started large-scale investments outside China, driven by domestic market saturation and the Xi Jinping government's 'going out' policy. Southeast Asia has become a prime target for this expansion due to its rapidly growing consumer base, underdeveloped F&B industry, proximity to China, and generally open investment environments. Given the variety of F&B industry offerings, mainland Chinese multinational enterprises (MNEs) are targeting market niches like ice cream and milk tea. Prominent mainland Chinese F&B firms founded in cities like Xiamen and Shenzhen are now expanding in the region, such as Mixue Ice Cream and Tea (Mixue Bingcheng), Naixue (formerly Nayuki, also known as Naicow), Joyday (Yili Product), Chagee and Luckin Coffee. However, they face competitors including earlier entrants from the US, Europe, Japan, South Korea and Taiwan, which benefit from strong brand recognition and deep-rooted consumer trust. A DIFFERENT MODE OF ENTRY The mainland Chinese companies' mode of entry is quite different from American business franchise models, such as Starbucks and Coffee Bean & Tea Leaf, which are typically owned by large local conglomerates. Franchisees in local markets bid for franchise outlets from the master franchise holder: for instance, the franchisee is PT Mitra Adiperkasa (MAP) for Starbucks Indonesia. This model is more exclusive and arguably caters to middle and upper-income segments in urban markets. Meanwhile, mainland Chinese F&B firms offer a low-cost franchise model, extending their reach to non-urban areas. This model disrupts the traditional model, which requires high initial capital and can be highly exclusive. With an initial capital of less than US$40,000, a Mixue franchise business is accessible to many aspiring entrepreneurs in the region. Among the incoming mainland Chinese F&B brands, Mixue is arguably the fastest-growing in terms of the number of outlets in Southeast Asia. Founded by Chinese businessman Zhang Hongchao in the late 1990s, Mixue first entered Southeast Asia via Vietnam in 2018 and Indonesia in 2020. Expansion into other Southeast Asian markets has been more modest, but sharp growth has occurred in economies with relatively lower income per capita and a significant young population (Vietnam and Indonesia). Its growth in Indonesia has been striking – in the first two years, Mixue opened 317 stores; within four years, this exceeded 2,000. In Vietnam, Mixue opened approximately 1,000 stores in five years. SIGNIFICANT BARRIERS Initially, mainland Chinese F&B firms sought to enter developed countries' markets but encountered significant barriers. Regulatory complexity, stringent food safety standards, higher entry costs, and the presence of well-established local and multinational brands hindered the Chinese firms' penetration into developed markets, like Australia, South Korea and Japan. In Japan and South Korea, there is also strong "local brand nationalism" or loyalty, making it harder for foreign brands to penetrate their domestic market. In contrast, certain markets in Southeast Asia offer more receptive business environments. Their ice cream and F&B sectors have considerable room for growth. Mixue's rapid expansion in Indonesia can be attributed to three key factors: its efficient supply chain, affordable product pricing, and the ease of launching a franchise. Mixue's model enables rapid expansion by relying on a network of low-cost, standardised outlets that are attractive to local entrepreneurs. As Indonesia has the world's largest Muslim population, halal certification is a prerequisite for most F&B businesses operating there. In January 2023, Mixue faced protests from Islamic groups in Jakarta, who questioned the halal status of its products and asked for a boycott. In response, Mixue's management immediately clarified that their ingredients did not contain lard or alcohol and emphasised that the company had applied for halal certification in 2022. The Majelis Ulama Indonesia (the Indonesian Ulema Council, MUI), the authority in charge, did not initially respond. This prompted public criticism of bureaucratic delays, which can discourage foreign investment. Shortly after, MUI granted Mixue a halal certificate. MANY OTHER PLAYERS Before Mixue's rapid expansion, a few other players had made inroads into Indonesia. Aice Group, established in Singapore in 2014 by new Chinese migrant Wang Jiacheng, founder and CEO, entered Indonesia in 2015. Aice gained popularity by selling low-cost ice cream products tailored to Indonesian tastes. By 2022, Aice had become one of the largest F&B firms in Indonesia, operating with three large-scale factories in Cikarang, West Java; Mojokerto, East Java and North Sumatra. Meanwhile, Yili Group, a major Chinese player, entered the market through its Joyday Ice Cream brand, thus directly competing with Aice and Mixue. The regulatory climate in Indonesia has largely supported F&B investment, particularly for firms able to adapt to local requirements, such as halal compliance and pricing sensitivities. SHAPING PERCEPTIONS OF CHINA While competition is fierce, some of the Chinese firms have localised their supply chains and adapted branding and distribution models to align with Indonesian consumer preferences. As Chinese F&B brands gain popularity, they might be shaping perceptions of China. In July 2023, a piece in The Jakarta Post commended Mixue's contribution to Indonesia's economy, noting its job creation, affordability, and resilience during economic downturns. The article argued that while 'negative perceptions of China may not be entirely eliminated by popular cheap food', brands like Mixue demonstrate that local communities can view positively aspects of China's presence. This reflects the broader soft power potential of Chinese consumer brands, particularly in a culturally sensitive sector like F&B. The sustainability of the Chinese low-cost franchise model remains to be seen. It is effective for quick market penetration, as evidenced by the rapid growth of retail outlets. However, there is no openly available evidence that such growth is associated with profitability. The Chinese F&B business model will face serious tests related to quality control and market saturation as competition heightens.
Straits Times
4 hours ago
- Straits Times
Singapore start-up on a green mission to keep mobile phones in use for longer
Old mobile phones collected by waste management firm Alba Group, which are sent for sorting and recycling. PHOTO: ALBA GROUP Singapore start-up on a green mission to keep mobile phones in use for longer SINGAPORE – Singaporeans are replacing their phones every 2.7 years , contributing to some 2.9 million mobile phones being stowed away, a new study shows. But one Singapore start-up is hoping to change this and keep phones in circulation for five years here. This will be even longer than the global smartphone replacement cycle of 3.5 years on average. Cinch plans to meet this target by renting out instead of selling the devices to consumers, ensuring that the returned units at the end of the rental period are refurbished to get a new lease of life with another user. 'We're trying to extend the useful life of these devices beyond the average refresh rate,' said Mr Mahir Hamid, chief executive and co-founder of Cinch , which commissioned the study to better understand consumer behaviour. Its study, conducted between late 2024 and early 2025 , involved interviews with firms that handle e-waste and used devices, as well as a survey of 500 Singapore-based respondents. Fresh from raising US$28.8 million (S$37 million) in funding led by Monk's Hill Ventures, Cinch is now actively pursuing consumers, letting them pay a monthly fee to rent the latest premium models of phones, laptops and other devices. Cinch will also foot 90 per cent of the repair cost of devices damaged due to accidents. For instance, the latest Samsung Galaxy S25 Edge with 512GB storage is available from Cinch for a rental fee of $70 a month over two years . At the end of two years, consumers would have paid $1,680 . The same model can be bought from Samsung for $1,808 . An Apple iPhone 16 Pro Max with 512GB storage can be rented from Cinch for $120 a month over 12 months . This will amount to a total of $1,440 at the end of the year. The same model costs $2,199 upfront from the Apple store. Customers can also buy direct from Samsung and Apple with an interest-free instalment plan, but it would require them to have a credit card from specific banks such as DBS, OCBC or UOB. 'There is a massive segment of the population for which a $2,000 to $3,000 purchase can be a significant proportion of their monthly salary,' said Mr Hamid. 'A subscription model allows them to access the premium device.' Cinch, which has been operating here since 2023 , has been leasing mostly to businesses such as those in the retail, logistics, information technology and public relations sectors. Around 10,000 devices such as laptops, smartphones and tablets have been leased, most of which were returned and refurbished for a second or third customer. 'Every refurbished unit needs to be as good as new,' said Mr Hamid. 'If it doesn't meet our standards, it doesn't go back into circulation.' He said that all returned devices undergo a professional diagnostic sweep and complete data wipe so users do not have to worry about privacy leaks. Customers can buy their rented devices from Cinch if they wish, but it would likely cost more than buying from retailers such as Shopee or Lazada, said Mr Hamid, urging users to rent instead. Cinch has also partnered with waste management firm Alba Group since the start of 2025 to collect and recycle devices that can no longer be refurbished for new leases. During recycling, valuable materials such as precious metals and plastics are extracted from the e-waste. Singapore generates more than 60,000 tonnes of e-waste a year , according to a report by the National Environment Agency in 2018 . This is equivalent to 73 mobile phones disposed of per person in Singapore. Slowing down the device replacement cycle will reduce the overall volume of electronic waste that needs to be collected, sorted and processed, an Alba spokesperson told The Straits Times. 'Alba supports efforts like Cinch's to keep electronic devices in circulation for a longer period, as it aligns with our mission to reduce e-waste and promote a circular economy in Singapore,' said the spokesperson. The leadership team of Cinch, which has been operating in Singapore since 2023. PHOTO: CINCH The leasing of laptops, smartphones and tablets has become a standard practice among some businesses, as it allows them to access the latest technology without incurring huge upfront costs. Leasing is also a way of reducing depreciating assets. Leasing firms typically cover a device's configuration, maintenance, repair and eco-friendly disposal. Telcos Singtel and StarHub have been leasing devices to businesses since 2020 and 2021 respectively, while M1 does so only as part of a more comprehensive suite of tech services. Singtel started leasing devices to consumers in 2018 , but ceased the programme in 2022. Mr Keith Leong, Singtel's managing director of enterprise, said consumers find that they get better value from buying devices bundled with mobile plans. But businesses in sectors such as government, infocomm and aviation continue to lease from Singtel. While the device leasing meets the specific needs of some businesses, many consumers still choose to buy devices as it gives them full ownership and control, which can be cost-effective over the long run, said Mr Leong. 'Ultimately, both models provide valuable pathways to equip a mobile workforce effectively,' he said. Other rental firms such as Circular and have also been in the market since 2021 to wean consumers from device ownership. Apart from renting out phones, laptop, and gaming consoles, also rents out home appliances such as digital door locks and washing machines. Leasing an iPhone 16 Pro Max with 512GB storage space would cost between $69 and $82 a month for two years from Circular, depending on the phone's condition. The same model would cost between $92 and $99 a month for two years from Cinch's adviser Arvin Singh said that Netflix and Grab have proven that ownership of storage discs and cars, respectively, is not essential. 'Netflix for many years now has disrupted ownership of DVDs and hardware... So I think it's not a strange concept for consumers. When it comes to phones, maybe a bit more education is required , ' said Mr Singh. However, Ms Tracy Tsai, vice-president analyst of consulting firm Gartner , said that phones cannot be compared to DVDs, cars or bicycles as phones carry confidential personal data. The cost-effectiveness of renting also comes into question if users upgrade frequently, she added. 'But if users want to chase the latest phone every year, renting might be less of an issue.' Join ST's Telegram channel and get the latest breaking news delivered to you.
Independent Singapore
7 hours ago
- Independent Singapore
‘Is this considered normal in SG?' — Jobseeker says interviewer ghosted her after they collected her payslips, income letter, tax letter, and referee contact details
SINGAPORE: A jobseeker shared on Reddit that she was ghosted by a prospective employer after completing several rounds of interviews and submitting multiple personal documents. Posting anonymously on the r/askSingapore subreddit, she explained that she had applied for a position that was originally advertised as a full-time, permanent role. After several interviews, however, the company informed her that the job would now be offered as a 12-month contract instead. They cited her career break and previous history of short-term roles as factors behind the decision to switch her to a contract position. Despite the revised terms, she chose to proceed with the application. The company then asked for her 'payslips, an income letter, a tax letter, and the contact details of her referees,' stating that these were needed to prepare the job offer. Unfortunately, after providing the necessary documents, she heard nothing more from the company. 'They completely ghosted me for a month now,' she said. 'Is this considered normal or fair in Singapore? Or should I be concerned that my info was used? Would love to hear others' or HR professionals' thoughts on this. Thanks,' she added. 'Your best option is to move on…' In the discussion thread, a Singaporean working in human resources said the whole thing sounded super shady. They explained that when a company is preparing an employment contract, the only document typically required is the NRIC. They added that there is usually no valid reason for a legitimate company to request income letters or tax documents at the hiring stage. The person suggested that whoever was asking for all these documents might not be a real employer but could be trying to collect sensitive personal data. 'It sounds as if some scammer wants your data instead of a company. This seems so BS. Referral contact makes sense. But if they ghost you, sometimes it MIGHT also be because they said some stuff that doesn't align with what they want,' they added. Another Redditor commented, 'Red flag. You noticed it. If you don't move on, then any problem you face in the future is on you.' A third wrote, 'No, not normal at all. I would have pushed back on the income letter and tax letter, and even for pay slips, I would have redacted certain information. This company is sus as hell.' A fourth advised, 'There are many things that could have happened. Your references didn't work out, the company strategy changed, the hiring manager or HR left, there is a hiring pause because of tariffs/war, etc. It's not ideal, but nothing to be concerned about. I know it sucks when you were so close to landing a job, but your best option is to move on.' MOM: Only job-related info should be requested While the Ministry of Manpower (MOM) does not explicitly prohibit employers from requesting documents such as income letters or tax records, such requests are generally uncommon. For payslips, candidates have the right to decline if they are uncomfortable sharing them. Moreover, as per their guidelines, employers should only collect information that is directly relevant to assessing a candidate's suitability for the role. This includes qualifications, work experience, and job-related skills. See also Leisure marketplace SelenaGO raises seed funding from UMG Idealab Application forms should also avoid questions about personal details such as race, religion, marital status, pregnancy, or disability, unless there is a clear and valid reason related to the job. Read also: $1.5K a month and drowning': 27-year-old creative worker shares fears about the future Featured image by Depositphotos (for illustration purposes only)
