Singapore Recreation Club plans S$16.6 million renovation, but some members baulk at S$3,000 fee
DeeperDive is a beta AI feature. Refer to full articles for the facts.
THE Singapore Recreation Club (SRC) is planning a S$16.6 million clubhouse refurbishment as part of plans to attract younger members – but some older members object to the cost.
Speaking to The Business Times, SRC president Chang Yeh Hong said: “For some of those senior members where the runway is short, obviously they are thinking about why they need to put more money behind this.”
The social club will seek S$3,000 from each of its 4,782 members – or some S$14.3 million in total – to fund the bulk of the two-year renovation project, with the rest coming from its cash reserves.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?