What fascinated me about Straits Times executive editor Sumiko Tan's interview with Finance Minister Heng Swee Keat was the price list of the meal they had at I Am...@HomeTeamNS Tampines, Our Tampines Hub (Steely resolve behind genial manner; May 13). For a restaurant that is out of town, the bill of $61.90 for two was a little more than what I would expect.
Broadly speaking, the main costs of restaurants are made up of rental, staff wages and ingredients. Of the three, rent would be a restaurant's most substantial cost, and one that is least within the owner's control.
It would be interesting to find out what the percentage of rental cost is in proportion to the bill that people pay when eating out, and whether it is the major contributing factor to high bills at eateries.
Thomas Lee Hock Seng (Dr)