Reuters, 7 Nov 2008
SINGAPORE (Reuters) - If you're confident about keeping your job, now might be the time to take up golf. Prices for exclusive golf club memberships in Singapore have been whacked as the global financial crisis seeps into the real economy. A recession, falling profits at Singapore firms and job losses are leading golfers to sell transferable memberships and putting off would-be players from forking out the fees.
Memberships for locals at the prestigious Sentosa Golf Club, which will host the Singapore Open competition next week, have slid to S$180,000 ($120,400), after changing hands on an open market last year at S$300,000, golf club agents said.
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