Winners and losers from Singapore's budget as election looms

SINGAPORE (Feb 19): Singapore Finance Minister Heng Swee Keat boosted health-care and military spending, gave tax rebates to citizens and tightened rules on foreign workers ahead of an election that could come as early as this year.

Heng announced a new $8 billion support package for seniors in his budget speech on Monday, as well as measures to help local businesses adopt new technologies. The expansionary fiscal plan will push the overall budget deficit to 0.7% of gross domestic product in the year ending March 2020, from a revised surplus of 0.4% this year.

Koufu in expansion mode to diversify revenue streams

SINGAPORE (Sept 10): Koufu, the manager of food courts and coffeeshops, is building a larger central kitchen and planning to expand selectively in Singapore and overseas.

Currently, Koufu operates 48 food courts and 80 food and beverage (F&B) stalls across Singapore and Macau. It also runs 14 coffeeshops, F&B kiosks, 11 quick-service restaurants (QSR), three full-service restaurants, a hawker centre and a commercial mall in Singapore.

Be informed of the stories that matter


Be informed of the stories that matter