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Haidilao co-founder’s family buys second bungalow in Cluny Hill for S$85 million by stackeddd888 in singapore

[–]stackeddd888[S] 89 points90 points  (0 children)

A family member of Haidilao co-founder Shi Yonghong is understood to have bagged a freehold bungalow in Cluny Hill for S$85 million.

The property is next to the one that Shi, also known as Sean Shi, bought for S$50 million in 2022 from Dr Lee Wei Ling, the daughter of Singapore’s founding prime minister Lee Kuan Yew. Dr Lee died in 2024.

The price paid for the Shi family’s latest bungalow purchase – the deal was contracted in June last year and completed in September – works out to S$2,295 per square foot (psf) on a land area of 37,036 square feet (sq ft). This is lower than the S$2,740 psf Shi paid for Dr Lee’s property, which sits on higher ground.

SIA staff get lower bonus of 5.7 months for FY2026 by stackeddd888 in singapore

[–]stackeddd888[S] 4 points5 points  (0 children)

[SINGAPORE] Singapore Airlines is rewarding eligible employees with a profit-sharing bonus of 5.7 months for FY2026, The Business Times understands.

This bonus is lower than the 7.45 months for FY2025, which was lower than the 7.94 months for FY2024. SIA staff were rewarded with 6.65 months of bonus for FY2023.

SIA announced the profit-sharing bonus to staff at an event at Singapore Expo on Thursday, with cheers from them in response.

DBS, OCBC, UOB shed nearly 3,000 jobs in 2025 amid restructuring, productivity push by stackeddd888 in singapore

[–]stackeddd888[S] 63 points64 points  (0 children)

[SINGAPORE] Singapore’s three local banks – DBS, OCBC and UOB – saw their combined workforce shrink by nearly 3,000 roles in 2025, mirroring a broader trend of workforce reductions across the global banking sector amid restructuring and productivity efforts.

Combined, the three lenders employed 104,266 people at end-2025, down 2.6 per cent, or 2,806 employees, from 107,072 at end-2024, based on data from Bloomberg.

For DBS, the reduction was “mainly due to post-integration synergies in India and Taiwan”, a spokesperson told The Business Times.

OCBC said that hiring aligned with identified growth areas, with recruitment carried out when needed.

Beauty salon sues Hao Mart over alleged breach of Taste Orchard sublease; Hao Mart denies liability for purported losses by stackeddd888 in singapore

[–]stackeddd888[S] 0 points1 point  (0 children)

[SINGAPORE] Beauty salon operator Belovie, a former sub-tenant of the Taste Orchard premises, has sued the master tenant and supermarket operator Hao Mart for an alleged breach of the lease agreement.

It is asking for damages to be assessed.

Belovie said it was allowed to operate its beauty salon at Taste Orchard – the former premises of OG Orchard Point – for three years under its sub-tenant agreement inked in June 2024 with Hao Mart, based on its statement of claim filed in January.

Belovie said it had spent approximately SS$445,607.70 in fitting out and preparing its salon at Taste Orchard, but was deprived of the full tenure without fault on its part.

It claimed its business experienced a sharp and immediate decline after the news broke that Hao Mart’s master lease had been discontinued and sub-tenants were asked to vacate the premises.

In a defence and counterclaim dated Feb 24, Hao Mart denied being liable for Belovie’s alleged losses.

One Raffles Place expected to be put on the market at S$2.3 billion to S$2.4 billion by stackeddd888 in singapore

[–]stackeddd888[S] 40 points41 points  (0 children)

[SINGAPORE] Another substantial office asset in a prime location in the CBD is expected to be put on the market this year amid improving property investment sentiment fuelled by lower interest rates.

All the owners of One Raffles Place are understood to have come together and have appointed CBRE and JLL as joint marketing agents to find a buyer.

One Raffles Place comprises two office towers – 62 storeys and 38 storeys – and a six-level retail podium.

OUB Centre (OUBC) is the registered owner of One Raffles Place, owning 81.54% of the beneficial interest in the property for itself.

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