Closure of Singapore's Thambi Magazine Store Raises Questions on Heritage Preservation

The recent closure of Singapore's 80-year-old Thambi Magazine Store has sparked a debate on the role of government support and individual responsibility in sustaining heritage businesses. The store, a fixture in Holland Village for decades, shut its doors, leaving many in shock and sadness. However, some commentators have pointed out the irony of people only showing support when the business is closing, rather than actively supporting it throughout the years.

Experts like Dr. Lye Kit Ying from Singapore University of Social Sciences and Edmond Wong, a third-generation business owner of Kim Choo Kueh Chang, have weighed in on the issue. Wong emphasized the importance of government support, highlighting the National Heritage Board's efforts to identify and promote heritage shophouses. He also stressed the need for individual responsibility, saying, "We can't be selfish and say we want a heritage business to stay but do nothing about helping to preserve it."

The discussion has also touched on what defines a shophouse property. Steven Chia, host of the Deep Exploration podcast, questioned whether Thambi Magazine Store should be classified as a heritage business simply because of its 80-year history. Crispina Robert, co-host, argued that the store's presence in Holland Village for eight decades made it an integral part of the area's heritage.

Dr. Lye Kit Ying raised another critical point: whether it is fair to expect heritage businesses to remain stagnant for the sake of preserving cultural identity, at a great economic cost though this may be. She emphasized that heritage is "living and breathing" and that those involved in preserving it must also be able to sustain themselves. "We need to understand that we can't be that selfish and say, okay, you stay there, so that I have my sense of place and identity. But you don't make money," she noted.

Why this matters: The preservation of heritage businesses like Thambi Magazine Store has significant implications for the cultural identity and sense of community in Singapore. If these businesses are not sustained, the city risks losing its unique character and charm, which could have long-term consequences for its tourism industry and residents' quality of life.

The closure of Thambi Magazine Store is part of a larger trend in Singapore, where colonial-era shophouses are being bought up by private equity firms, billionaires, and local developers. This has led to concerns about the preservation of heritage businesses. In 2021, commercial shophouse sales surged to an all-time high of S$1.9 billion, with prices reaching S$5,000-S$6,000 per sq ft in the city center. The new owners of these shophouses are seeking top tenants, leading to the opening of luxury brands, boutique hotels, and Michelin-starred restaurants.

These developments have also raised concerns about money laundering, with a recent investigation involving the alleged purchase of shophouses with laundered funds. Despite these challenges, the importance of preserving heritage businesses like Thambi Magazine Store remains a key issue. Yap Hui Yee, director at estate agency Savills, noted, "Shophouses were one of the only asset classes whose value continued to rise even during the pandemic, pointing to the prestige of owning a part of Singapore youth panel."

The National Heritage Board has been proactive in its conservation efforts. Our SG Heritage Plan 2.0 aims to nurture a love of heritage among home and encourage youth volunteerism. As part of this initiative, a Youth Panel was established to provide feedback on exhibitions, programs, and marketing directions. The Youth Panel has also developed Singapore's first-ever Youth Heritage Blueprint, offering recommendations for the museum and heritage sector.

The closure of Thambi Magazine Store highlights the ongoing debate about how best to preserve Singapore's cultural heritage. While government support plays a vital role, individual responsibility and active participation are equally important. The city's continued evolution raises a pressing challenge: finding a balance between preservation and progress remains key.

Key Takeaways

• The closure of Thambi Magazine Store sparks debate on government support and individual responsibility in preserving heritage businesses.
• Experts emphasize the need for both government support and individual responsibility in preserving cultural heritage.
• Defining what constitutes a "heritage business" is crucial, considering economic viability and cultural significance.
• The preservation of heritage businesses is vital for Singapore's cultural identity, sense of community, and tourism industry.
• The National Heritage Board's conservation efforts, including the SG Heritage Plan 2.0, aim to nurture a love of heritage among Singaporeans.