Hmm really? Netizens unsure of claims that coffee and 'cai fan' prices will not increase at $40 million Yishun coffee shop

The coffee shop in Block 848 Yishun Street 81 that changed hands for $40 million.
PHOTO: Lianhe Zaobao

When news broke in June of a Yishun coffee shop changing hands for $40 million, the topic on everyone's lips was the potential rise in food prices.

In a July 2 interview with local publication Shin Min Daily News, Chang Cheng Group, which bought the coffee shop, made it clear that it would not be raising the prices of coffee and 'cai fan', or economy rice, but it seems that netizens have not been won over.  

Founder and managing director Ricky Kok told the Chinese daily that he was making this promise in hopes of alleviating concerns regarding inflation and rising food prices these days.

However, he also mentioned that the rental fees of stalls in the coffee shop at Block 848 Yishun Street 81 coffee shop would be adjusted after Chang Cheng Group officially takes over on Oct 1. He did not disclose any further details, Shin Min Daily News reported.

Well, it seems the online reaction to Ricky's pledge might not be what he expected.

A number of netizens were quick to point out Ricky's word choice during the interview, speculating that there's a chance that other stalls besides coffee and 'cai fan' would see an increase in price.

PHOTO: Screengrab from Reddit

The resentment against Kok on Reddit was palpable but one Reddit user felt others simply "hate people with money".

To which, another user responded that those who "make the average person poorer" are "fair game". 

PHOTO: Screengrab from Reddit

Over on HardwareZone, netizens shared similar sentiments, with one suggesting "no increased price but reduce quantity [sic]".

A user was feeling equally pessimistic about Ricky's promises, claiming that it might only last for half a year or so.

Malaysia-born Ricky started his own cai fan shop in Singapore in 1994. He eventually established Chang Cheng Group some seven years later.

Today, Chang Cheng Group owns over 220 food outlets and 30 coffee shops in Singapore. 

ALSO READ: Identity of buyer behind record $41.6m Tampines coffee shop sale revealed

amierul@asiaone.com