Capitaland Vouchers

I couldn’t believe my eyes when I saw the following article:

CapitaLand to pay staff bonuses with shopping vouchers

According to the news, Capitaland will be paying part of the bonuses for managers using their Capitaland mall vouchers. The size of the vouchers range from $750 to $10,000 and the total amount adds up to about a million dollars.

I am just wondering how long it will take those people receiving the $10,000 vouchers to utilize all their vouchers.

Nevertheless, this innovative approach will be beneficial for Capitaland and their retailers. The poor staff who had other plans for the money (other than shopping at Capitaland malls) would probably be very unhappy about this arrangement.



Comments

  1. CC Lim says

    Hi Martin

    Agree with your comments that the receiver of those vouchers esp if it is 1K and above would not be too happy. However, credit must be given to the company for coming up with such innovative idea. It kills 2 birds with a stone – providing their tenants with some business, thus promoting the malls and at the same time stimulate the economy. Another way the receiver could “sell” his share of the vouchers to his friends/relatives, maybe at a small discount on the quiet side. In that way, he can recover some cash to save/buy something that is not availabe at any of the Capitaland malls. I think the management should”hands-off” if their employees choose to sell the surplus vouchers.

    • says

      I read that the vouchers can be used at NTUC in those Capitaland malls, so it might not be so bad for the recipients after all. There could be a secondary market for these vouchers, eg ebay.

      And yes, this is a good scheme for both Capitaland and their tenants. Better cashflow for Capitaland (and possibly a small savings if they redeem the vouchers from the tenants at a discount), and more business for the malls.

  2. Intheknow says

    Hi All,

    That’s crap right?

    Capitaland vouchers given out will be taxable as per normal income!

    Cheers,
    Intheknow

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