City-state risks losing gastro cred

But while costs of energy, ingredients and rents have risen worldwide, Singapore’s restaurateurs also face a sustained cost increase that has been exacerbated by government policy: wages.

“It’s a bit like ‘Survivor’,” said Woo Wai Leong, who opened 16-seat Restaurant Ibid on bar-studded Boat Quay shortly after he won MasterChef Asia in 2015. Still, the agencies stress that companies will have to “redesign jobs to create greater value for the business and career progression for their employees”, including flexible work arrangements for those preferring other schedules.

The island can’t compete with other destinations in South-East Asia for natural tourism, such as scenery or beach resorts.“We are a tourism and financial hub so if our tourism service standards are sub-par and new investments divert away from us, we will be in a very tough spot over the next five to 10 years,” said Nasen.

The food and beverage sector “reflects the growing up, the wealth creation of Singapore”, said Song Seng Wun, an economist at CIMB Private Banking who’s charted the sector as a barometer of the economy for more than three decades. Insubordination, tardiness and lack of output are rife in the industry and owners are being “held hostage”, he said.Still, he’s trying to persuade fellow owners to resist raising prices.

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