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Worries over price hikes at coffee shops
Residents, stallholders fear new owners of multimillion-dollar outlets will raise rent
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Karen See, Anjali Raguraman, Varun Karthik
Until recently, civil servant Norman Lopez did not think much of what he pays when patronising the KPT Kopitiam at Block 848, Yishun Street 81 twice a day for his coffee fix.
But that changed when food and beverage giant Chang Cheng Group forked out $40 million last month for the coffee shop, a transaction that came after two other recent high-price coffee shop sales.
