18 Jul '12, 1am

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I had lunch a few occasions in the canteen of the SIA Training Center and the Defense Science Organization. The prices were half of those charged in the privatized canteens. I was told that the stall holders had to pay a rental, but it was a modest rent and not the highest that the market could bear. Due to competition from a few stall holders, the prices had to be kept low, to cover the cost of rental, the ingredients and the labor. The stall holders could make a living, and the prices were kept low. This was the business model adopted in the market and food courts that were leased out by the HDB and the Ministry of Environment two decades ago. It was a good model. It did not follow the maxim of tendering to get the highest market price, i.e. to maximize the returns. The controlled rentals still reflect the cost of cost of building these facilities. It was a good model to...

Full article: http://tankinlian.blogspot.com/2012/07/some-lessons-from-...

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