Singapore Swimming Club to spend $25m on upgrade

A MAJOR upgrade is in store for the Singapore Swimming Club (SSC) after its members approved a nearly $25 million budget to renovate the Tanjong Rhu Road premises.

The bulk of the spending, $18.6 million, will go towards new spa facilities, commercial spaces and a jackpot room – double the size of the present one.

Members can also look forward to more seating at its cafe, known to be packed during weekends. There are also plans to add 100 parking spaces.

Its recreational pool – one of three pools currently – will also be replaced. To cater to younger couples and their families, a new children’s fun pool and playground are also planned, as well as a room for teens.

The rest of the money, $5.8 million, will go to repairing existing areas like the changing rooms, the grand ballroom and the restaurant’s kitchen.

Members at yesterday’s extraordinary general meeting were initially concerned that the club could not afford to undertake such a massive project. But management committee president Freddie Koh explained that the club had $42 million in its coffers last year and that is expected to hit $44 million by January next year.

‘All other clubs are moving forward and if we do not, it’s like standing on a slippery slope. This is our vision for you and your families,’ he said.

Mr Koh pointed out that the Chinese Swimming Club, for example, has a new $43 million pavilion and sports complex.

Instead of leaving the club’s reserves in a fixed deposit account, he said the money would be better spent improving facilities and the value of the club’s membership. Mr Koh hopes to sell its 300 memberships, currently on hold, to new sign-ups at a price higher than the current $28,000, once the redevelopment is complete.

The management committee is also counting on the rental revenue from the spa and commercial spaces as well as jackpot revenue to be the major contributors to recouping the outlay. Revenue should also come from higher patronage of the club’s food and beverage outlet. Mr Koh projects an $879,100 return on investment a year.

The upgrading works will begin once architectural plans are confirmed and the lease of additional land from the authorities is settled.

The meeting was not without some drama – members voted 102 to 43 in favour of censuring some members of the previous management committee for spending on pool repair works without approval from members. This motion had been carried in the last annual general meeting in May but was considered void by the courts for not adhering to proper club procedure.

Source : Straits Times – 16 Nov 2009