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Stars of Singapore’s new food and beverage world

Dr Biz • Sep 18, 2020

The food and beverage sector, or F&B as those in the business refer to it, is a vital component of Singapore’s economy, contributing around 2.1% of the City-State’s total S$507 billion GDP in 2019 along with the accommodation industry. Known world-over for its delicious food, Singapore’s F&B scene boasts everything from cheap, mouth-watering street food to the most luxurious restaurants and boutique eateries.

The food and beverage sector is also, however, one of the hardest hit by the Covid-19 crisis, with the sector shedding close to 23,000 jobs between April and June 2020 as the impact of circuit-breaker measures hit hard. All is certainly not lost, though, with the sector in-fact adding 96 new businesses over the first half of the year according to data from the Accounting and Corporate Regulatory Authority.

Government support for F&B is also strong, with the sector attracting a larger chunk of support from its $48 billion Resilience Budget. This includes wage subsidies through the Jobs Support Scheme that will fund 30% of wages for local workers in food services until the end of March 2021. Meanwhile, those F&B businesses occupying commercial properties in areas hardest hit by the lockdown will not have to pay any property tax for all of 2020.

Supporting Singapore F&B

The food and beverage industry itself has also rallied to support its many businesses, with the creation of ‘Savefnbsg’, an informal coalition of over 500 restaurants ranging from independent operators to franchises that have banded together to support each other in this Covid-19 crisis. Facebook groups like Singapore Restaurant Rescue, which has more than 82,000 members, are also raising awareness of the huge commissions charged by online delivery platforms like Deliveroo, GrabFood and Foodpanda, and support independent delivery services.

In recognition of the above issue, in April this year Enterprise Singapore introduced a support package that would cover 5% of the commission charged by online delivery platforms, however with most charging somewhere in the region of 30%, many argue this simply isn’t enough to help struggling F&B firms. Some have also called for the government to move beyond cutting property tax, and mandate landlords to calculate rent as a fixed proportion of gross turnover in these straightened times.

Three Singapore food stars

But it’s not all doom and gloom. As food and beverage retailers re-emerge from the circuit breaker period, many will begin to look closer at their businesses models, perhaps seeing where they can strengthen their propositions to provide more unique offerings. With consumers now likely to be focussed on value in all of their post-Covid-19 purchases, it is essential that F&B businesses showcase what their product brings to the table - literally! Below we highlight three exciting independent Singaporean food retailers doing just that.

Farangse, 24 Greenwood Avenue, Singapore 289221

The brainchild of a classically trained chef and a Thai foodie, Farangse restaurant offers a unique ‘French-Issan’ dining experience that blends French and Thai cuisines. Malaysian born chef Eric Tan was trained in Switzerland and has worked in several well-known establishments including the Ritz Carlton and French restaurants L’Absinthe and Bar-a-Thym under the guidance of Chef Francois Mermilliod. Tan’s business partner, chef ‘Emma’ is a native of North-East Thailand (also known as ‘Issan’), a region known for its raw, spicy and sour salads, grilled fish and meat and its sweet desserts. Emma demonstrates her passion for Thailand through her cooking, and is skilled at balancing the delicate flavours of Thai dishes. Everything the team serves is freshly made in-house, according to traditional cooking techniques and using only the best available ingredients.

Sushi Koike, 36 Circular road Singapore 049392

Japanese restaurant Sushi Koike serves one of Tokyo’s most celebrated delicacies: Edomae-sushi, which uses a rich assortment of fresh seafood and which originated during the Edo period (1603-1868) in Tokyo. At Sushi Koike, the team uses only the finest seasonal ingredients sourced directly from trusted wholesalers at the Tuskiji Fish Market in Japan’s capital city. Master Chef Koji Koike was raised at this legendary market, learning the trade from the tender age of six from his father and grandfather, who were also both sushi masters. Following this tradition, Sushi Koike offers quality authentic sushi cuisine that it claims will “transport you back to the time and place of its birth.” With its minimal woodgrain interior and refined, intimate setting, the food and beverage star makes for a stylish place to enjoy a serene lunch, or celebrate a special occasion.

Olsen Bakehouse, 462A Crawford Lane #01-73 Singapore 191462

Formerly known as intheBrickyard Bakery, Olsen Bakehouse has been turning out some of Singapore’s most delicious Chiffon cakes for more than six years. The product of a husband and wife team, Olsen Bakery specialises in traditional Chiffon cakes made with local flavours, often with an innovative and exciting twist. These include offerings such as the ‘Milo’, which combines traditional Chiffon cake craft with one of Asia’s most beloved household staples: Milo chocolate flavoured drink powder. Others include the Orh Nee, a traditional wedding cake made using yams, as well as a range of vegan options such as the Sliced Chocolate Oreo Cake. Having grown up on the island, the couple says their stories and lives are baked into each cake, for which they use less sugar, all natural flavours and colours.

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