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Business Times
02-07-2025
- Business
- Business Times
Who's afraid of the F&B business? PS Cafe founder Peter Teo makes a comeback
[SINGAPORE] The restaurant scene may be tough, but that's not stopping Peter Teo of PS Cafe fame from returning to the industry with two new food and beverage (F&B) concepts. Teo, together with Philip Chin and Richard Chamberlain – the other co-founders of PS Cafe – and a fourth partner, Edward Lee, are opening a bistro with a bar-cum-tasting room for spirits and liqueurs later this month. Called Chip Bee Bistro, the two concepts will occupy a total of just under 3,000 square feet across a pair of units at Jalan Merah Saga in Holland Village. This follows recent news of planned closures by F&B establishments Wala Wala and Crystal Jade La Mian Xiao Long Bao in the area. 'When I read all these articles about Holland Village, I'm like, 'maybe they know something we don't',' Teo told The Business Times in an exclusive interview. 'But it felt right to open there.' PS Cafe's roots began in 1999, when Teo, Chin and Chamberlain added a cafe at the back of their Projectshop fashion boutique in Paragon. The trio grew PS Cafe into a chain of restaurants and added other brands including Anglo-Chinese concept Chopsuey Cafe and contemporary Japanese restaurant Jypsy. They sold the last of their stake in parent company PSGourmet to investment firm Sun Venture in 2022. 'We'd already done 20-plus years of business then and felt it needed new blood and energy to take it to the next chapter,' Teo explained of their exit. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Since then, he'd been spending time in New Zealand, while Chamberlain, a British citizen, had done likewise in London and Chin here with his foodie group. After a year of 'not doing anything', Teo started feeling bored and got involved in a pie business in New Zealand, which he later sold off. He then decided to try distillation – something he was introduced to back when PS Cafe and Tanglin Distillery collaborated to create a gin called Verandah. 'The process of distillation is like art and science, and creating a range of spirits seemed like a nice idea because taste is discovery,' he said. Last year, he partnered distiller, Philibert Gandy and Lee, PSGourmet's former group business director, to open Distillius, a distillery in Pandan Loop. Since the gin market is 'very saturated' and 'no one's really doing aperitifs or liqueurs in Singapore', they decided to create an amaro, a type of bittersweet liqueur. 'It's an equatorial aperitif, and it's got ginseng root, calamansi and torched ginger.' They called it Arveau, which is a play on the Australian slang for afternoon (arvo) and French word for water (eau) – given that Gandy is French, Lee is Australian and the trio imagined it to be an 'afternoon kind of drink'. The plan is to experiment with other spirits, liqueurs and syrups 'and see in the wild, how people respond'. That created a desire for a bar-cum-tasting room to showcase the products, which naturally led to the idea of doing it sustainably – that is, accompanied by food. And that's how Teo is again partnering Chin and Chamberlain, along with Lee, to open Chip Bee Bistro and the tasting room. The bistro will be a casual eatery serving Western food that 'works well with a drink' – such as shared plates – have outdoor seating and be pet-friendly. 'It's a sort of Singaporean take on Aussie-inspired, Euro-leaning ideas, which could be many things because I never want to pigeonhole myself,' he said, adding that such neighbourhood cafes are common in New Zealand and Australia, and 'doing it our way might be a bit different and appealing'. Given the state of the F&B industry and the fact that people are consuming less alcohol, would opening the two concepts now be the right move? 'Maybe I'm a bit crazy, but I've never really thought if this is a good time or location, but more like, 'does this feel right'?' said Teo. 'For me, if you can create something that's different, something that you like, hopefully you'll find like-minded people.' Besides, he says that just like PS Cafe, his latest ventures are not part of a plan, but organically grown from diverse interests. Similarly, PS Cafes' locations in then undiscovered, quiet corners of Dempsey, Ann Siang Hill, East Coast Park and Raffles City, were also in unlikely places. 'I had no intention of going back into hospitality,' Teo admitted. 'But just creating an environment where people have a good time is actually very satisfying. Chip Bee Bistro will also be a place where my friends and I can hang out, just like we used to at PS Cafe.'
Daily Mirror
19-06-2025
- Automotive
- Daily Mirror
'We tested 10 plug-in hybrid cars and there was a surprise winner'
A group of leading motoring experts have assessed what the best plug-in hybrid car on sale in the UK is, coming a a surprise result after much assessment A group of motoring experts tested a range of plug-in hybrid cars on sale in the UK and came to a surprise winner. The experts, from motoring publication What Car? tested cars from the likes of MG, Volkswagen, Jaguar Land Rover, and Mercedes to find out which plug-in hybrid was the best. A plug-in hybrid is a car that has both an electric motor and petrol engine. The petrol engine does most of the work, but the car can run on electricity alone for short period of time. The advantage of plug-in hybrids over either petrol-only or electric-only cars is that you can drive in town without using engine, and then turn it on when you get to bigger roads, removing range anxiety as that same engine can drive the wheels and charge the electric battery. After assessing several models, the motoring experts came to the verdict that the Anglo-Chinese MG HS SUV was the top model to go for. Part of the reasoning behind this was not just the car's equipment and practicality, but the fact it was far cheaper than most of its rivals, starting from around £29,000. Their car's list price was £31,095. They explained: 'Think all plug-in hybrids are expensive? Prepare to think again because in our preferred entry-level SE trim, the MG HS is one of the cheapest cars of its kind. 'Don't think that just because you're paying a bargain price means it'll feel cheaper inside, either. In fact, the GS is easily a match for the more expensive Citroen C5 Aircross in terms of plushness. It's well equipped too. 'Then there's its 75-mile official electric range, which isn't far off the longest in the plug-in hybrid category – despite the fact that the HS costs far less than most rivals. The HS is very practical.' In second was the Volkswagen Passat estate which was praised for its practicality and being better than versions from BMW and Citroen. The Volkswagen's list price was higher than the MG's, at £47,430. They said: 'Despite carrying around a hefty battery, you'll get more into the Passat's boot than you would in most estate rivals, while the interior mixes soft touch surfaces with high quality plastics in a way that puts the [Mercedes] C-Class to shame.' In third place was the Range Rover Sport. With a list price of £114,050, it's more expensive than the other cars on the podium. Remarking on the car, the experts said: 'This version of the Range Rover Sport is as on trend for the wealthy as shopping at Erewhon, combing luxury with efficiency. 'As with every Range Rover Sport, you get to enjoy the view from a driving position that places you high above the road, while your passengers relax in sumptuous comfort.'
Business Times
23-05-2025
- Business
- Business Times
The best is yet to be for Tengah property prices, say DBS analysts
[SINGAPORE] Property developers such as GuocoLand could benefit from a potential rise in home prices near popular primary schools, particularly in emerging areas like Tengah New Town. Still, DBS Group Research cautioned in a report, titled 'Primary school premium: Fact or Fiction?', that price appreciation also depends on factors such as transport access, tenure, and project attributes. DBS analysts Tabitha Foo and Derek Tan said in the report, published on Thursday (May 22), that some primary schools are more popular than others because of historical ties valued by parents who are alumni, or their specialised programmes, the school culture, or proximity to home. Under Singapore's school balloting system, children living nearer oversubscribed schools are given higher priority for admission, which has prompted some parents to buy homes nearby to boost their child's chances of a place, they added. 'This 'proximity advantage' could make nearby properties more attractive to parents seeking to maximise their admission priority,' they said. However, while properties within 1 or 2 km of such schools generally appreciate more in price than their district averages, the trend is not consistent across all locations, the analysts noted. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up For instance, the analysts said that a study of a sample of popular schools found that homes near Catholic High School and CHIJ St Nicholas Girls' School registered compound annual growth rates that were generally over 5 per cent – higher than their respective district averages. In contrast, properties near Singapore Chinese Girls' School and Rosyth School recorded more mixed results; some projects near these schools underperformed their surrounding districts. The analysts said that while moving closer to a popular school is 'one of the key factors driving potential price appreciation', it is also important to consider other factors. These include entry timing and price, proximity to MRT stations, lease tenure, the age of the project, the availability of multiple primary schools, and other development attributes. These considerations, they noted, may explain the variation in price trends across different school zones, despite similar proximity advantages. Looking ahead, the analysts said the upcoming Tengah New Town could be a development to watch, particularly with Anglo-Chinese School (Primary) School planning to relocate there by 2030. While the analysts said it is still early to quantify the impact the school's relocation will have on property prices in Tengah, they observed that the town is rapidly developing with numerous Build-To-Order launches, as well as the award of multiple Executive Condominium sites. DBS' report cited the awarding of a recent private condominium land parcel in Tengah to GuocoLand, Hong Leong Holdings and CSC Land Group in January under the Government Land Sales programme. The 25,458.4-square-metre site on Tengah Garden Avenue is zoned 'Residential with Commercial at 1st storey', and can potentially yield about 860 residential units. GuocoLand, which announced its results in February for its first half-year ended Dec 31, 2024, noted steady demand for its residential developments in Singapore. The property developer reported a net profit of S$74.6 million for H1, up 13 per cent from S$66.2 million in the year-ago period. The group attributed the improved performance to its main business engines: property investment and property development.
Business Times
23-05-2025
- Business
- Business Times
School proximity may boost home prices – but not everywhere: DBS report
[SINGAPORE] Property developers such as GuocoLand could benefit from a potential rise in home prices near popular primary schools, particularly in emerging areas like Tengah New Town. Still, DBS Group Research cautioned in a report, titled 'Primary school premium: Fact or Fiction?', that price appreciation also depends on factors such as transport access, tenure, and project attributes. DBS analysts Tabitha Foo and Derek Tan said in the report, published Thursday (May 22), that some primary schools are more popular than others because of historical ties valued by parents who are alumni, or their specialised programmes, the school culture, or proximity to home. Under Singapore's school balloting system, children living nearer oversubscribed schools are given higher priority for admission, which has prompted some parents to buy homes nearby to boost their child's chances of a place, they added. 'This 'proximity advantage' could make nearby properties more attractive to parents seeking to maximise their admission priority,' they said. However, while properties within 1 or 2 km of such schools generally appreciate more in price than their district averages, the trend is not consistent across all locations, the analysts noted. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up For instance, the analysts said that a study of a sample of popular schools found that homes near Catholic High School and CHIJ St Nicholas Girls' School registered compound annual growth rates that were generally over 5 per cent – higher than their respective district averages. In contrast, properties near Singapore Chinese Girls' School and Rosyth School recorded more mixed results; some projects near these schools underperformed their surrounding districts. The analysts said that while moving closer to a popular school is 'one of the key factors driving potential price appreciation', it is also important to consider other factors. These include entry timing and price, proximity to MRT stations, lease tenure, the age of the project, the availability of multiple primary schools, and other development attributes. These considerations, they noted, may explain the variation in price trends across different school zones, despite similar proximity advantages. Looking ahead, the analysts said the upcoming Tengah New Town could be a development to watch, particularly Anglo-Chinese School (Primary) School planning to relocate there by 2030. While the analysts said it is still early to quantify the impact the school's relocation will have on property prices in Tengah, they observed that the town is rapidly developing with numerous Build-To-Order launches, as well as the award of multiple Executive Condominium sites. DBS' report cited the awarding of a recent private condominium land parcel in Tengah to GuocoLand, Hong Leong Holdings and CSC Land Group in January under the Government Land Sales programme. The 25,458.4 sq m site on Tengah Garden Avenue is zoned 'Residential with Commercial at 1st storey', and can potentially yield about 860 residential units. GuocoLand, which announced its results in February for its first half-year ended Dec 31, 2024, noted steady demand for its residential developments in Singapore. The property developer reported a net profit of S$74.6 million for H1, up 13 per cent from S$66.2 million in the year-ago period. The group attributed the improved performance to its main business engines: property investment and property development.
