Singapore malls turn quiet with retailers hit on multiple fronts
Weakness in local economy, drop in tourist spending, space oversupply, strong S$ among factors cited
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Singapore
AFTER serving only a handful of customers in five hours on a recent weekday, Sam Goh said he was worried the sportswear shop he manages, LIV ACTIV, will eventually join other brands in leaving Singapore's Orchard Road shopping boulevard.
Singapore's reputation as a shoppers' paradise, which saw investors pour S$10 billion into retail developments here in the past five years, is taking a pummelling because of weakness in the local economy and a drop in spending by tourists.
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