Telegraph.co.uk, 25 Feb 2009, Ben Bland
Singapore's CapitaLand, which is the biggest shopping centre owner in Southeast Asia, is paying out S$1m (£450,000) worth of staff bonuses in shopping vouchers redeemable at its malls.
The move is designed to give a boost to CapitaLand's retail tenants, many of whom have seen sales fall sharply, as well as helping the wider economy.
Singapore is a corporatist state, with Temasek, the sovereign wealth fund, owning significant stakes in many of the nation's leading public companies, including CapitaLand. So it is not surprising to see CapitaLand do something that is partly designed to serve the greater (Singaporean) good.
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