S’pore is very much behind the internet shopping curve – at least 5 years or more behind countries like the US, Australia, etc. S’pore govt itself is a property developer (brick ‘n mortar type) disguised as a country.
The 6.9 million population white paper is itself an unabashedly property development guide. They may try to obstruct internet shopping for as long as possible in order to keep their development activities going & the associated activities like REITs listings/private equity/privatizations to palm off physical assets.
But watch, the decay continues UNABATED. Internet shopping will kill big brick-and-mortar shopping mall. Life pace is getting faster with smart phone digital technology so big brick-and-mortar shopping mall decimation will accelerate.
Unlike US or Australia, most major businesses linked back to the govt. So you would see both explicit & subtle govt assistance to keep these dying companies going for as long as possible.
S’pore govt likes to isolate the economy so that it can extract the maximum from the masses. Likewise, civil developments are lagging due to the intellectual vacuum environment that the people are subject to. The educational system & print media are responsible for this indoctrination process.
Example:
The decline of the print media in SG . The only niche that print media has sustaining “advantage” is foreign news which most local either not interested of search on their own or knows where to get free read (print media abroad now often requires subscription).
They are struggling too – just look at print media stocks in Australia, most stocks are in the dying throes in share prices compared to a decade ago. Big retail shares are also under-performing in Australia.
SPH, I now regards, as an “old man stock” – without its property based earnings, its share price would have long collapsed with dwindling dividend return. It is the baby boomer generation and older still read print news – they are all heading to extinction as seen in demographic.
It is a slow but sure death of print media.
Newsdesk