Insight 2025/2026 - Sri Lanka Tourism: Triumph or Trap?
Three years ago, Sri Lanka teetered on the edge of economic collapse. Now, it is one the road to recovery. Is tourism a sustainable pathway out of its economic doldrums?
Insight 2025/2026
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CNA
an hour ago
- CNA
As furniture buyers turn to Shopee and Taobao, local brands struggle to compete
SINGAPORE: When first-time home owners Nurasheila Abdul Razak and Syakir Sabirin were searching for furniture to match the Japanese wabi-sabi theme they had in mind for their new flat, time was in short supply. Working different shifts as technicians while caring for their toddler, the couple found it difficult to shop for furniture. That changed when they discovered Chinese e-commerce platform Taobao. 'On Taobao, we can just sit at the table, browse and everything will come at the same time,' said Mr Syakir, 33. Despite the language barrier – they relied on Google Translate to navigate the site – the couple ended up buying about 90 per cent of their furniture on Taobao. They are part of a growing group of younger home owners in Singapore who are buying most of their furniture from online platforms for their lower prices, greater convenience and wider selection. Taobao, owned by Chinese e-commerce giant Alibaba, has seen rising interest from Singaporeans for its home and furniture products, said Ms Miko Tse, the head of marketing at Taobao Singapore. While she did not disclose specific figures, she said the category has seen 'strong double-digit year-over-year growth', helped by the launch of the site's English version. Shopee Singapore has also seen rapid growth in the category. Its director, Mr Chua Kel Jin, said furniture and home living is now one of the platform's fast-growing segments. Over the past five years, buyer numbers have doubled and sales have tripled, he said, without revealing exact figures. TOUGH COMPETITION Prices on e-commerce platforms are often significantly lower – sometimes up to three times cheaper than local brands, home owners told CNA. Ms Nurasheila said a customisable electric sofa she bought on Taoabo cost about S$1,200 (US$940) before shipping. A similar item in a local store had a price tag of over S$3,000, the 29-year-old pharmacy technician said. Even after paying for shipping and hiring a handyman to assemble the pieces, the couple estimated they spent just S$6,000 to furnish their home. Local furniture brand Cellini said such pricing could lead to a 'race to the bottom' and put immense pressure on Singapore companies that struggle to meet these cost expectations. 'The pie of furniture sales is no longer exclusively divided among local brick-and-mortar stores but is now significantly shared with online powerhouses,' said its marketing manager Kerine Yong. Mr Joshua Koh, CEO of homegrown furniture brand Commune, said that the increased access to platforms like Taobao has changed the retail landscape. 'In the past, factories sold to retailers who would sell the furniture at a markup. But now, the factories have bypassed that middleman and gone online and started selling direct to consumers,' said Mr Koh, who is also the president of the Singapore Furniture Industries Council. Adding to the challenge, retailers in Johor Bahru are also aggressively courting Singapore consumers, with lower prices enabled by lower operating costs, he said. 'So we are being hit by many fronts, not only the Chinese e-commerce supply.' BIG SPACES, HIGH RENT Local furniture companies said they have to grapple with high rental costs for their warehouses and showrooms, even though most of them have offshored their manufacturing process to neighbouring Southeast Asian countries. Mr Ahmad Habshee, 36, the founder of woodworking brand Urban Salvation, runs a 4,000 sq ft studio and showroom in an industrial estate in Tampines. He recently downsized to one unit to cut costs. 'The location that I have is very secluded, because it's cheaper here. To survive longer, you cannot have high rent,' he said. Professor Lawrence Loh, who teaches policy and strategy at the National University of Singapore, said many local furniture brands are now in a 'precarious position'. 'Many might actually end up being free showrooms for people who want to go online,' he said. 'People can get a look and feel of what type of furniture they want. Then they check the dimension … and just go online and replicate,' he said. Account manager Lim Huiyi, 30, and her husband did exactly that when they were furnishing their new home a year ago, using local stores for inspiration before doing reverse image searches on Taobao. 'We will just snap a picture … and then put it on Taobao,' she said. 'Sometimes, it looks like basically the same thing for a fraction of the price.' Apart from a TV console that they purchased from Johor Bahru, all their movable furniture was purchased online. Affordability, variety and convenience are key draws for shopping online, home owners said. 'You can search for so many things, and you can see so many different options at once, versus in Singapore, when you go to a furniture store, you are pretty much bound to how much it can feature in that little space,' said Ms Lim. Getting to furniture showrooms, which are often in remote areas, can be expensive and inconvenient, she added. Another home owner who wanted to be known only as Ms Tan said she and her husband browsed local shops but couldn't find anything that caught their eye. 'Everything was very repetitive … We wanted to have something more unique,' the 32-year-old said. Buying online did not mean compromising on quality either, said Ms Tan, who works in sales. Having lived with mostly Taobao furniture for the past two years, she said the quality has exceeded her expectations. BUY AND THROW AWAY Ms Faezah Shaharuddin, co-director of family business Gamar Furniture, said younger buyers are more trend-focused, which platforms like Shopee and Taobao cater to. She added that slow furniture brands like hers have to 'straddle the line' between quality and trends. 'There's a sustainability aspect to it too. We don't want to become like fast furniture, because we do think it's a bit wasteful, and it's also very expensive and exhausting trying to keep up with the trend cycles,' she said. Mr Ahmad said brands like his that champion circularity are struggling to survive a "buy and throw" mindset. Still, he understands why people shop online. 'Renovation is expensive in Singapore. House is expensive in Singapore. Furniture is just pure aesthetics for some people. Can use can lah, right?' he said. Mr Morgan Yeo, director of family-owned furniture brand Roger&Sons, said many buyers see furniture as temporary – tied to the lifespan of a BTO flat. 'To them, they don't think that they will stay there for a long time,' he said. 'So why spend the amount of money?' Yet this mindset leads to significant waste, he added. 'We only worry about the straws and the paper cups and the plastic bags,' he said. 'But we don't think about the waste we generate when we move into a house.' A HUMAN TOUCH Dr Seshan Ramaswami, associate professor of marketing at Singapore Management University, said retailers need to be "extremely service-oriented" and offer customers a one-stop solution for all their furnishing needs. Assistant Professor Soo Kim from Nanyang Technological University (NTU) business school said homegrown furniture brands have to offer customers something they cannot get from online shopping. Physical showrooms should not just be a place to browse and buy, but a destination with a "human touch", she added. Gamar's Ms Faezah said her brand retains loyal clients who appreciate face-to-face service. 'There's a warmth to shopping in person, and we have a lot of long-time clients that we built personal relationships with. That kind of thing can't really be felt online,' she said. Some brands are also investing in their online presence. At Cellini, Ms Yong said enhancing the online experience while maintaining physical showrooms has become essential. 'It's about delivering meaningful value and an exceptional experience. It's never just about a product,' she said. Roger&Sons, however, has no intention to move to the e-commerce space. Making quality furniture takes time, Mr Yeo said. 'The only way you can digitalise carpentry is if you mass produce the same type of chairs … Every chair that we do is different.' Home owners Ms Nurasheila and Mr Syakir said they remain open to "all options" for their future furniture choices – depending on price and convenience. But they are not planning to replace what they have bought anytime soon. 'We bought this furniture hoping it would last,' said Ms Nurasheila. 'That's still the goal.'
Independent Singapore
11 hours ago
- Independent Singapore
Remote work for Singaporean elders: How a 58 y/o man in SG secured his financial lifeline and retirement needs with just a laptop and Wi-Fi
SINGAPORE: When Lim Wei Ming sat at his Tanjong Pagar office one March morning, staring at his CPF retirement projections, he didn't see it as his golden years. Instead, he saw it as a financial black hole. Wei Ming saw his decades of dutiful saving and climbing the corporate ladder led to one cold, hard truth: even with the maximum Central Provident Fund (CPF) contributions, retirement in Singapore might be more sobering than celebratory. His calculations resulted in a modest S$2,800 monthly payout from CPF, compared to a real-world expense of nearly S$8,000, Maxthon quoted him as saying. Mortgage, mum's medical bills, daughter's overseas uni fees —all of that wasn't fiction. This is Singapore's retirement reality. But Lim, like hundreds of Singaporean seniors, discovered a game-changer: remote work. The remote work revelation What started as a pandemic necessity has evolved into a permanent, powerful solution, especially for older professionals. Remote work isn't just a lifestyle shift; it's a financial lifeline. For Singapore's pre-retirees and seniors, it's becoming the difference between scaling back or soaring ahead. The traditional model—work till 62, retire on CPF—is buckling under pressure. Today's retirees are living longer, facing higher costs, and often supporting both parents and adult children. It's the 'sandwich generation' crunch, Singapore edition. With CPF's Enhanced Retirement Sum now at S$426,000 and contribution rates increasing slightly for those aged 55–65, some progress has been made. But for many, it's still not enough to fund a 20-30-year retirement. That's where remote work comes in, with a dazzling array of benefits. Why remote work makes dollars and sense 🏦 1. Boosting CPF while you Zoom A 60-year-old who brings in S$4,000 a month remotely for five more years could add over S$50,000 to their CPF account. That's not pocket change—it could mean hundreds more per month in CPF LIFE payouts down the road. Add in compound interest at 4% (Special Account) and 2.5% (Ordinary Account), and remote work becomes an interest-generating engine. 🏘 2. Escape the CBD, embrace the world No office, no problem. Retirees are ditching the daily commute and expensive city rents for cosier, cheaper locales—some even across the Causeway. Whether it's a beachfront flat in Penang or a mountain view in Chiang Mai, they're stretching their dollars without sacrificing productivity. Even staying local, the savings add up—S$200 to S$400 a month in transport alone. That's before you count hawker lunches swapped for home-cooked meals and a farewell to overpriced work attire. 🧾 3. Sweetening the tax deal Singapore's territorial tax system means income earned abroad but not brought into the country is not taxable. Couple that with no capital gains tax and the ability to time when income is declared, and it becomes a tax playground for the financially savvy silver fox. 🏥 4. Keeping healthcare costs in check Working remotely means fewer MRT rides and fewer chances to catch something in a crowded lift. Add to that continued employer healthcare contributions and less pressure to tap into Medisave, and you've got a healthier, wealthier retirement runway. Flexible work law: The wind in their sails Since December 2024, Singapore employers are now required to formally consider flexible work requests, including remote options. Already, 76% of companies have hybrid policies in place. For older workers, this isn't just about convenience—it's empowerment. What jobs can you do? More than you think Sectors ripe for remote elder-preneurship include: Finance: Advisory, consulting, compliance—Singapore's financial brain trust is still in hot demand Advisory, consulting, compliance—Singapore's financial brain trust is still in hot demand Tech: With fintech booming, part-time remote gigs abound With fintech booming, part-time remote gigs abound Education: Corporate training, language classes, mentoring roles Corporate training, language classes, mentoring roles Legal & Compliance: Regulation never sleeps Regulation never sleeps Marketing & Communications: Content creation doesn't care about your age—just your storytelling chops Singapore's English-speaking edge and reliable digital infrastructure make it a regional powerhouse for remote expertise. You've got the knowledge. You've got the tools. You've even got the timezone. Why stop now? The game plan for retirement 2.0 Phase 1 (Ages 50–55): Prep Mode Upskill in digital tools (Zoom, Canva, Google Workspace, etc.) Build your LinkedIn game Learn the ropes of freelancing, consultancy, or digital entrepreneurship Phase 2 (55–65): Transition Mode Negotiate hybrid work options Start building your client base Use remote work income to top up CPF and Medisave accounts Phase 3 (65+): Flex and Thrive Work part-time, stress-free Mix CPF LIFE payouts with flexible gigs Keep the brain engaged and the wallet happy What could you earn? In one conservative case study: A pre-retiree earns S$2,500/month remotely Lives 20% cheaper thanks to a remote lifestyle Adds S$60,000 to CPF over 8 years Saves S$96,000 on living costs Total benefit is a cool S$156,000 In an optimistic scenario? Earn S$4,000/month consulting from across the border Slash living costs by 40% Build up S$280,000 in eight years That's not retirement. That's reinvention. From survival to strategy This isn't just theory. Singaporeans like Wei Ming and his colleague Sarah—both in their 50s—have turned this model into reality. They've swapped stress for strategy, and their daily commutes for consulting gigs. By leveraging Singapore's global brand and regulatory know-how, they now earn more, save more, and live more. From Singapore to Kuala Lumpur or Penang, or even Bali or Krabi, a growing community of Singaporean 'remote retirees' is proving that you don't have to retire from work—you just need to rethink or reinvent how and where you work. The world is your office Let's be clear: remote work isn't a luxury anymore—it's a necessity. It's the CPF booster, the health preserver, the tax hack, and the lifestyle upgrade wrapped into one. And in the face of a demographic tsunami, rising costs, and longer lifespans, it might just be the only lifeboat that floats. So if you're staring at your CPF projections with dread—or just sick of the daily jam on the PIE—take a page from Wei Ming's playbook. The world is your office, and your legacy doesn't have to come with a retirement countdown clock. All you need is Wi-Fi, expertise, and the will to hit 'Join Meeting.' In other news, which may also be of interest to senior citizens to give it a shot for your financial lifeline and retirement needs planning, a Singaporean couple has transformed their home into a multi-stream income engine, generating over S$3,000 to S$5,000 a month through practical, proven side hustles that are perfect for 2025. In a video that has been making waves among aspiring entrepreneurs, Darien (the hubby) breaks down 10 legitimate side hustles that Singaporeans can start right now. Some require skills, others need hustle, but all are achievable. Photo: YT screengrab/@darienandjoanna You can read more about them and find out how you too could turn your home into a money-making machine while you bake sourdough, play with dogs, or teach a workshop — all without stepping out of your front door over here: 'We make S$5000/month!' — Singaporean couple turns their S$1M condo into a passive income machine with 10 side hustle recommendations, working from home
Business Times
11 hours ago
- Business Times
Thailand, Cambodia leaders to meet on Monday with Malaysia mediating
[BANGKOK/PHNOM PENH] Thailand's acting Prime Minister Phumtham Wechayachai will lead a delegation to Kuala Lumpur on Monday (Jul 28) for negotiations over a border dispute with Cambodia, the Thai government said in a statement on Sunday. Cambodia's Prime Minister Hun Manet will also attend the talks, with Malaysia, the Asean chair, mediating the conflict. Malaysian Foreign Minister Mohamad Hasan confirmed on Sunday that both countries had requested Malaysia to serve as mediator, adding that no other nation would be involved. The meeting comes after Malaysian Prime Minister Anwar Ibrahim proposed a ceasefire on Friday, while US President Donald Trump said on Saturday that both leaders had agreed to work towards one. Four days after the worst fighting in more than a decade broke out between the South-east Asian neighbours, the death toll stood above 30, including 13 civilians in Thailand and eight in Cambodia. More than 200,000 people have been evacuated from border areas in the two countries, authorities said. REUTERS
